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At Virtus Wealth Management, your Southlake independent financial advisors, we help our clients prepare for a financially-secure future by developing long-term strategies that focus on the “big picture” versus short-term gain, thereby managing risk.

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Today’s economic conditions and uncertain financial markets require the savvy investor to go beyond traditional boundaries.


Our mission is to provide innovative, sophisticated and highly customized wealth management solutions and financial advice that address all facets of your finances.

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We tailor everything to each of our clients’ specific needs so that each client can pursue his or her different goals.

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Virtus Wealth Management is the product of a 2016 merger between two well-established Texas wealth management firms.

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Wealth management is more than just investment advice – it includes all aspects of a client’s financial life.

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Wealth management is more than just investment advice – it includes all aspects of a client’s financial life.

Who We Help

At Virtus Wealth Management, we believe we can help you no matter what age you are, what life stage you are in, or how much money you are working with. We want you to feel educated, empowered, and involved in the planning of your financial future.

Do You Need Long Term Care Coverage?

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  • Do You Need Long Term Care Coverage?

by | Apr 28, 2017

Less than 8% of Americans actually have insurance for long term care.1 Moreover, only 10% of the elderly have a private long term care insurance plan, and because coverage under these plans is often limited, only 4% of long term care expenditures are paid by private insurance, while fully one-third of expenditures are paid out-of-pocket.2

Conversely, nearly 70%, almost three out of four, people age 65 and older may require long term care at some point.3

As of 2012, the average national cost for one year of care was around $76,000.4 And based on a 2014 study the average cost for both nursing home care and assisted living facilities had risen about 4% over the previous 5 years.5

Consequently, around 1.7 million American home-owners filed for bankruptcy in 2013 due to their inability to pay medical bills. Furthermore, nearly 10 million American adults, aged 19 to 64, were be unable to pay for basic necessities like rent, food and heat due to medical payments.6

What is Long Term Care?

Long term care includes a wide range of medical and support and services for people with a degenerative condition such as Parkinson’s, a prolonged illness such as cancer or a cognitive disorder such as Alzheimer’s.

Generally, a long-term care insurance policy pays benefits when it is determined by professionals that either you are unable to perform at least two of the activities of daily living, or you need continual supervision due to a cognitive impairment.

A person may qualify for long term care if:

  • For at least 90 days, the person needs substantial assistance due to a severe cognitive, physical, or chronic impairment.
  • The person is expected to require care for at least 90 days, and be unable to perform two or more of the following daily activities without assistance:
    • Eating
    • Dressing
    • Bathing
    • Moving around the home
    • Using the restroom
    • Controlling your bladder

The Sooner The Better

Making arrangements for this type of situation is going to be more expensive the longer you wait. Generally, at younger ages you are more likely to qualify for good health discounts and lower annual premiums.

This type of care can last for undetermined amounts of time, costing the victim and their family tens or even hundreds of thousands of dollars. Life-long savings and retirement funds can be threatened by the associated costs of care.







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