Category: Life Products

Why Advisors Need To Compare LTC Provisions

Understanding long term care insurance terminology is often the cause of great confusion and frustration for advisors as well as consumers.

Much of the benefits terminology was derived from the long term disability industry, where it also bewildered applicants. Today, many LTC policies use simpler and more understandable concepts, but assessing the terms carefully is still essential, because terms differ between contracts and they may involve tradeoffs from traditional comprehensive LTC insurance.
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Financial, Tax, Estate And LTC Planning Need To Be Integrated

Over the past 30 years, medical and pharmaceutical advancements have increased boomers’ longevity by decades–far beyond that of their parents. In addition, many boomers married and had families at much later ages than their parents, thus creating what is frequently referred to as the “sandwich generation.”

As a result, boomers now face the responsibility of not only taking care of their own growing children, but simultaneously also seeing to the extended needs of aging and frail parents. All of this is happening against the backdrop of a seriously compromised Medicare, Medicaid and Social Security system.
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