When I started my business in 2000, there were about 140 insurance companies marketing long-term care insurance products. Today, just a handful. About seven offering standalone products if you count the federal program for government employees. More if you include insurers offering hybrid designs that include a life insurance or annuity component. Collective premiums in
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Another attempt at long-term care funding. The WISH Act: Well-Being Insurance for Seniors to be at Home. Do we need it? Sure. Only 10% of Americans aged 50 and older have long-term care insurance. Yet most of us will experience a long-term care event once we reach age 65 and beyond. Average long-term care expense
It’s not a fun topic. We get that. But it just might be the most important thing you do to protect your financial security. Here are five key reasons: Most Americans aged 65 and older will need long-term care. Who Needs Care? | ACL Administration for Community Living It’s not covered by Medicare. Medicare | ACL Administration
Planning for long-term care (LTC) is about dealing with the reality of needing assistance as we age. We’ll be the first to acknowledge this is not a fun conversation. But ignoring information to avoid the reality of needing long-term care is not a solution.
Are you old enough to remember the Dragnet series that aired from 1951 to 1959? How about Detective Joe Friday’s classic phrase, “Just the facts, ma’am. Just the facts.” With interest rates so low, have you thought about buying a new home or refinancing your mortgage? Bet you thought it would only take two