Health care or Medicare is very different from long-term care. Why? Health care and Medicare are designed as curative or rehabilitative programs. Not so for long-term care which is custodial care. Custodial care helps you live as you are now. It is not designed to improve or correct a medical condition. People often think long-term
Long-term care expense planning is complex. A lot of factors need to be considered to put in place the appropriate product, coverage and premium. Like what you ask. For starters, your health history, wealth, asset location and financial goals. When we get to the cost and coverage, we need to understand where you would reside
The COVID-19 pandemic has taught us a lot. One lesson is that financial discipline is possible. Life’s experiences can act as a stimulus for revising financial habits and cause us to rethink how we spend money. Understanding and managing risk may be the most important lesson learned from 2020. While risk is a constant in
When we work with clients on long-term care expense planning, the initial focus is cost and coverage. It doesn’t matter if the funding option is insurance or another product. Basically, clients just want to know how much expense they can afford to transfer to an insurance company or another funding resource. As a result, meaningful
