Understanding the difference between Disability Insurance and Long-Term Care Insurance and how it impacts your financial plan is critical to your success. Disability insurance addresses lost wages that stem from an inability to work. Long-term care insurance, in contrast, addresses expenses associated with medical care provided to you in your home, a nursing home, a [...]
Martin Barraud | Getty Images As rate hikes increase, older Americans weigh dropping policies. Eileen Cheng, 70, is holding on to the long term care insurance policy she purchased 15 years ago, even with an expected rate increase. "If you're buying it at 60, you may need it when you're almost 80," she [...]
Long-term care insurance (photo from Shutterstock) Long-term care planning is really hard to talk about. It can be frightening to imagine ourselves with diminished capacity and needing help from others. And since we find it challenging to discuss it, we often don’t plan for it. Very wealthy people can pay cash for upscale [...]
Pay for long term care without paying taxes on an annuity withdrawal. A tax break with an additional benefit. Did you know that, since taking effect in 2010, you are allowed to withdraw money from a certain kind of annuity without paying taxes as long as you use it to pay for qualified long term [...]
Many states are assisting their residents to buy LTC insurance. Protect Your Assets A helping hand for a pressing need. With the baby boom generation maturing, numerous studies and articles have pointed out the rising need for long term care. Some state governments have directly responded to it. Now, many states have created [...]
Create a pool of healthcare dollars that will grow in any market. Protect Your Assets How will you pay for long term care? The sad fact is that many people don’t know the answer to that question. But a solution is available. As baby boomers leave their careers behind, long term care insurance [...]
