Financial Power Blog — Long Term Care Planning

For your personal care requirements, long-term care includes a variety of services and assistance. The vast majority of long-term care is not medical. Instead, it's support with everyday activities of living, or ADLs (ADLs). Eating, bathing, getting dressed, using the restroom, transferring, and maintaining continence are the six fundamental ADLs. It's excellent that people are living longer. But the longer life expectancy of Americans is posing fresh problems. Additionally, until the year 2030, 10,000 Baby Boomers will reach the age of 65 every day, and 7 out of 10 individuals will need long-term care (LTC) at some point in their...

Life Insurance provides more than an income tax free death benefit. From time of policy purchase until retirement and beyond, there can be unique medical and financial challenges. Have you considered incorporating the options that can be available in a life insurance policy? A Long-Term Care Rider (LTC), often referred to as a Chronic Illness Rider, is a life insurance policy option that allows you to leverage your inforce policy should you develop an illness that leaves you unable to take care of yourself on a daily basis. The death benefit then can be used to pay for those unforeseen long-term care...