“According to Prudential Group Insurance, a business of Prudential Financial Inc., at least 60% of men and 80% of women will need to pay for long-term care at some point in their lifetime, and the related expense is likely to damage retirement savings and independence. “
This was taken from a story I read today about Long-Term Care, and the likelihood that someone you love, or yourself will need some type of care at some point in their lifetime.
There are plenty of options available to Americans today. Â There are the traditional policies that give you a daily/monthly benefit. Â There is also a new kind of policy that is based on the idea of self-funding your care.
If you don’t plan for Long-Term Care by purchasing a policy, the question is: Which one of your assets would you sell first when you need some type of home health care, or care from a facility?
Please reach out to us if you would like more information, including the tax favored treatment of long-term care insurance.
Here is a link to the article:
http://www.planadviser.com/Longer_Life_Means_More_Financial_Strain.aspx?p=2