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Shopping for Long Term Care Insurance Policies – Part 1

Posted on July 1, 2015 by Comments are off

Here Jack discusses some provisions to watch out for when shopping for long term care insurance policies.  These include comparing Indemnity vs. Reimbursement Forms of Coverage.  Also explained is the seemingly subtle but actually very important potential differences in Daily Benefit vs. Monthly Benefit Policies.

Self-Funding Long Term Care Expenses

Posted on June 25, 2015 by Comments are off

 

In this segment, we discuss whether it is feasible to consider self-funding expenses for if you or a loved one goes into a nursing home, or needs nursing care assistance at home.

There are opportunities for those with high net worth to self-fund costs of long term care; while at the same time there can be devastating and possibly catastrophic results for non-high net worth families to attempt to do the same.

Do you know where to pull the money from first if you are Self Insuring Nursing Home Costs

Posted on June 4, 2015 by Comments are off

 

Do you know where to pull the money from first if you are Self Insuring Nursing Home Costs

If you do decide self-funding long term care costs are the best option for you, deciding which assets to draw from, and in what order, require careful evaluation. Income Tax Ramifications, withdrawal costs and fees, penalties, loss of interest and earnings potential, etc. are only a few of the considerations that need addressed.

Can You Self Insure Your Own Expenses in a Nursing Home

Posted on June 4, 2015 by Comments are off

Self Insure

Can You Self Insure Your Own Expenses in a Nursing Home

The answer is of course you can! Well, maybe only if you actually have enough extra money sitting aside that you don’t need and will never need in the future, that is. And even if you did, would self-funding be the best option anyway?

How important is it to prepare now for a potential Nursing Home Stay 20 or 25 years away

Posted on June 4, 2015 by Comments are off

How important is it to prepare now for a potential Nursing Home Stay 20 or 25 years away

A question we all face in this area is – why should we concern ourselves now with something that may never happen.  Even if it did, might not happen for 20-25 years from now, and a lot can change between now and then.

 

Avoidance of Nursing Home Planning

Posted on June 4, 2015 by Comments are off

Avoidance of Nursing Home Planning

This segment is covering the reason for procrastination and avoidance of dealing with the difficult issue of nursing home planning. Why does no one want to discuss this most damaging area of financial planning? Because no one wants it to happen to them. But is it true that if we don’t talk about it, then it won’t happen to us?

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