Why buy long term care insurance? It might be hard to imagine now, but chances are you’ll need some help taking care of yourself later in life…. READ MORE >>
How much should retirees expect to spend on health care throughout the rest of their lives? Estimates vary, ranging from about $250,000 a couple to $500,000, depending on longevity, health status and location. Some are even higher after including nursing home costs, but those costs will depend in part on a couple’s long-term care insurance — whether either or both members have it and exactly what their policies cover. READ MORE >>
The IRS can never get enough of our money, right?
But the rules that apply to LTCI provide some good and some great tax treatment. Benefits checks paid out are always tax free for Qualified Plans. What are “qualified plans?” READ MORE >>
So the familiar story goes, ‘I have enough money. I don’t need Long Term Care Insurance’.
If you have that kind of money, you got it by being smart with your assets, right? Congratulations.
Here is a little quiz: If you knew if there is a 70% chance that you are going to need help with bathing, dressing, meal preparation and other activities of daily living, you probably assume that you will pay those bills out of pocket, right? READ MORE >>
The perception that the cost of long term care is so outrageous that it is easy to dismiss it. Besides, the government has a safety net plan, right? Like any other big expense, you need to be educated and have a plan, much like you do with children’s education, saving for retirement and buying a house. Most everybody knows somebody who has had to deal with it for themselves or parents. Unprepared people experience sticker shock once they are in crises. READ MORE >>