Earlier this spring, our team hosted an event reviewing planning and strategy for long term care. Below are some take-aways to consider in the process:
Healthcare Costs Pose Risk -
As healthcare costs continue to rise—a recent study reports that a 65-year-old couple retiring in 2019 can expect to spend $285,000 in healthcare and medical expenses throughout retirement—it’s important to understand how you’ll pay for long-term care.
Creating a Safety Net -
For many retirees, long-term care insurance can offer a helpful safety net for protecting retirement income in the event of a serious illness or incapacitation. Clients often have concerns when it comes time to plan, like not qualifying for a traditional long-term care insurance policy due to age, chronic illness, or other factors. Some are reluctant to pay for covered custodial services that may never be used.
Reviewing Your Options -
For these reasons and more, options for long-term care planning have become more flexible in recent years. Contact our team to learn about alternatives and the options available to you.