Addressing the Myths of Long-Term Care

April 26, 2017

When it comes to LTC protection, it’s time to know the myths, master the facts, and have the conversation.

Retirement readiness risks come in all shapes and sizes, and few loom larger than the potential cost of long-term care (LTC). Most financial professionals understand the magnitude of this risk; however, preparing clients to address LTC costs often means overcoming a set of well-entrenched myths. Understanding some common myths in advance and becoming well-versed in the facts can change the course of the conversation. And most importantly, it can help create a stronger retirement strategy for clients at a range of income levels.

Myth: “My health insurance provides all the protection I need for long-term care.”

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Stretch Veterans’ Long-Term Care Savings With an A&A Pension

April 20, 2017

Advisors can help veteran clients supplement long-term care savings with aid and attendance benefits through the VA

Advisors who serve veterans with extended long-term care needs may want to consider an immediate annuity to help them qualify for an aid and attendance (A&A) or housebound pension through the Veterans Administration, according to Dale Krause, president and CEO of The Krause Agency and an elder law attorney.

Veterans may qualify for one of these types of supplemental pensions in addition to their base pension if they have long-term care needs. However, there are income restrictions to qualify for the benefit that may force veterans to reduce their monthly income and net worth.

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Armatures, Bricks and Firewalls

April 4, 2017

The Last Word On LTCI…  Ronald R. Hagelman Jr.

I am perpetually amazed at the degree of cognitive dissonance stirred up in my own mind every time I ask myself this most basic rhetorical question:  “How can anyone in their right mind ignore the probability of an expensive and extensive need for care?”

The absolute unvarnished truth is that no matter how well you have constructed your plans for retirement and the disposition of your estate, an extended need for custodial assistance can blow up all your carefully crafted expectations.

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