What is Long Term Care? Almost 70% of people turning 65 will need long term care at some point in their lives. Long term care is when we need help with two or more daily activities such as bathing, dressing, eating or using the bathroom. (i) Care can be provided in a nursing home, assisted care facility or at […]
Recently I was involved on a case where adult children, as part of their financial planning, explored the purchase of long term care protection on their parents. (Of course, the parents had to consent, and qualify medically.) The rationale was this: the adult children and spouses understand that 40% of women, and 37% of men, […]
Annuities, long-term care insurance or a hybrid life insurance / LTC rider are better options than trying to go-it-alone.
Did you know? New York State residents are entitled to a nonrefundable tax CREDIT if you or your business pay premiums for qualifying long-term care insurance policies. How much is the credit? “The allowable credit is 20% of the premiums paid during the tax year for the purchase of, or for continuing coverage under a […]
Your personalized Plan Design will reflect four important selections: Amount. The maximum daily or monthly benefit. (Choose monthly. ) Period. The number of days or months the benefit will apply. (Maximum ten years.) Inflation Protection. Elimination Period. The amount of time you will wait after eligibility and before benefits are paid. Listed below are the ten […]