Both traditional and newer hybrid insurance policies carry a number of parameters and options to consider.
Attempts to combat concerns about traditional long-term care insurance have resulted in combination or hybrid products using an asset-based approach to fund long-term care.
The range of expenses covered by long-term care insurance varies, and it is important to understand what exactly is covered by a contract under consideration.
At some point, wealth may be sufficient to self-fund long-term care expenses, but reasonable individuals may still decide to include insurance in their plans as part of an overall risk management strategy.
I discuss two options for funding long-term care: self funding and Medicaid.
Many receive long-term care at their homes or at community centers or adult day care centers. Institutionalized living is not always required, and proper long-term care planning may allow one to remain at home longer than otherwise possible.
How likely is a person to experience a need for different types of long-term care? This is a challenging question and it is hard to find good answers.
Long-term care spending represents one of the most severe spending shocks that can impact retirees.
Delaying Social Security can potentially contribute to an overall tax strategy for retirement. Every case is different, but generally speaking, when you add taxes to the mix, the case for delaying Social Security becomes even stronger than usual.
A lot of things get lumped under the broad title of estate planning. Not only are you arranging the financial aspects of your estate, but you’re letting everyone know your intentions regarding healthcare and any other wishes you may have. This process is exactly the same before and after retirement; the only difference is that […]