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long-term care planning

LTCI – Who Benefits the Most? Policyholders or Loved Ones?

Do you have a plan to pay for long-term care (LTC) services? Long-term care insurance (LTCI) helps protect a policyholder’s income and assets against the financial risk of an LTC event. While people may think policyholders benefit the most, LTCI can protect the whole family. LTCI benefits policyholders in many ways, including the following: 1. LTCI Protects Your Hard-Earned Income & Assets It’s no surprise that LTC services are expensive. According to Genworth’s 2018 Cost of Care Survey, it currently costs $48,000 per year to live in an assisted living facility. In 20 years, the cost is estimated jump to…

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Bridging Long-Term Care with Estate Planning: The Basics

As senior loved ones age, many families face challenging decisions regarding care. Frequently, these decisions involve both estate planning and long-term care. This article is meant to provide a basic framework of knowledge to prepare for some of the more difficult estate planning challenges that occur in conjunction with a senior’s need for long-term care. Long-term care and estate planning are necessary for senior citizens who wish to age and pass as comfortably as possible, while minimizing the negative impact of their passing on their families. Well-planned long-term care removes the burden of caregiving from relatives and ensures seniors get…

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