Without long-term care insurance to help meet the cost of needed long-term care services, you run the risk of depleting a lifetime of savings. With long-term care insurance, you’re in a better financial position to make the choice of what long-term care services you receive and where you receive them.
In addition qualified long-term care insurance receives favorable income tax treatment. The benefits from qualified long-term care insurance, for the most part, are not taxable income to the recipient, up to a daily limit ($330 for 2014).
OK, it’s time to stop putting off the inevitable: thinking about who will take care of you when you can no longer take care of yourself. It’s Long-Term Care Insurance Awareness Month, making it the perfect “excuse” to explore something no one wants to think about, but that we all need to. Keep in mind […]
It’s Long-Term Care Awareness Month. A lot (most?) people don’t really understand what long-term care insurance is, what it does and why people need it as a part of a sound financial plan. Click on this link for a free guide, aptly named, What You Need to Know About Long-Term Care Insurance. It answers a […]
Keep in mind that you are designing a plan, and long-term care insurance is one solution for funding the plan. Today there are more alternatives than there were as recently as five years ago.
As you catch up at your holiday gatherings, spend some time considering your family’s future as well. It may turn out to be the right time to take the first step toward long-term care planning.