LEVEL VS. NON-LEVEL PREMIUM INFLATION OPTION.
The inflation protection option you choose when purchasing a Long-Term Care Insurance (LTCI) policy is the most important component of your purchase.
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The lifestyle needs of the survivor should be the goal when designing an appropriate level of Long-Term Care Insurance coverage. The coverage should protect enough income-producing assets to support the survivor.
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Keep in mind that the risk of needing this policy increases with age. Therefore, when choosing, it is best to select the option that will create the greatest benefit at older ages.
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HOW DO I INTEGRATE MY LEGACY PLANNING GOALS INTO LTC PLANNING?
Clearly defining your own orientation towards leaving a legacy, as well as that of your partner, can greatly enhance the likelihood of a cohesive plan to accomplish your financial goals.
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LTCI Claims: 6 items you will need before placing an call.
1) The home care provider’s or care facility’s license;
2) The “Plan of Care”;
3) The care provider’s daily caregiving notes;
4) All invoices for care services;
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IS GETTING YOUR MONEY BACK WORTH THE COST IN A COMBO OR STAND-ALONE LTCI POLICY?
The second and most attractive feature of a Hybrid LTCI policy is that it has the potential to “give your money back if you don’t need it”.
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PREPARING FOR LONGEVITY CHECKLIST: LEGAL CONSIDERATIONS.
Planning for aging, frailty, and Long-Term Care includes many legal considerations, including end-of life-planning. Commit to developing an #AgingPlan today.
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The lifestyle needs of the survivor should be the goal when designing an appropriate level of Long-Term Care Insurance coverage. The coverage should protect enough income-producing assets to support the survivor.
https://t.co/zuo4XAtHYv
#AgingPlan#MyAgingPlan#WolfLTC
A Claims Advocate (usually a specially trained Geriatric Care Manager or RN) is the most valuable asset you can have on your side when filing a LTCI claim. A Claims Advocate can advocate for the needs of our loved one to an insurance company.
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CAN I DEDUCT LONG-TERM CARE INSURANCE AS A SELF-EMPLOYED MEDICAL EXPENSE?
Owners of Partnerships or S-Corps, Sole Proprietors, or LLCs (filing a tax return as any of the previous) can claim Self-Employed medical deductions for TQ LTCI.
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Planning for a long-term care event without leverage is referred to as “self-insuring.” By “self-insuring” the long-term care risk, an individual or couple chooses to use their own assets to fund a care-giving need.
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CAN I FUND LONG-TERM CARE INSURANCE THROUGH MY HEALTH SAVINGS ACCOUNT(HSA)?
HSA is a savings vehicle designed to allow tax-deductible funds to be set aside for payment of health care expenses, income tax-free.
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WHAT ARE THE STEPS TO FILING A CLAIM FOR LONG-TERM CARE INSURANCE?
Completely Do-It-Yourself, consult with an AGING CARE EXPERT along the way if you encounter questions or hurdles, or completely Hire-It-Away with an AGING CARE EXPERT.
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