Whatever your decision it is important to understand the full physical, financial, and emotional impact on yourself and your loved ones. A long term care insurance broker can help you evaluate the options available to you such as: long term care insurance, life insurance with a long term care insurance rider, an annuity with a long term care rider, life insurance with a chronic illness rider, private pay, or a blended approach using some of these. Long-term care planning is an extremely personal decision and there is no one correct answer for how to go about preparing, it is just essential that you do so.
Have you been a caregiver for a loved one who did not have insurance to pay for long term care and they relied solely on you for help? Did it impact your health, your lifestyle, or income? Would you have preferred that you could supervise the care instead? Throughout their working years most people look forward to a long life, dream of what they want to do when they retire, and save with hopes that it will be a worry-free time for finances. However, while budgeting for retirement many people forget to account for one of the most important […]