A person who is 65 years of age has a 70% chance of needing some type of long-term care in retirement1 and the associated costs can threaten a lifetime of savings. If you have ever been involved in providing extended care for a loved one, you understand the emotional and physical toll it can place on you. For many people in the early stages of chronic health conditions, care is initially provided at home and by family members. In 75% of the time2, it's women who are providing this informal care. There are many misconceptions when it comes to long-term care funding, costs, and insurance options. The good news is that these risks can be addressed through proper planning and Core Financial Partners can help you understand your options and make informed, proactive, decisions.
Where appropriate we offer the following strategies:
- Asset location
- Long-term care insurance
- Life insurance with long-term care rider
- Asset based long-term care insurance
1 U.S. Department of Health & Human Services, Administration of Aging (Oct 10, 2017).
2 Institute on Aging, 2016.
