You wont need this, your family will. In most all cases, a family member has to put their life on hold to care for a loved one needing extended care. Would you prefer your family manage your care or do you expect them to put their lives on hold to take care of you?
Retirements plans are funded with various ASSETS. Contingent on who you are working with, ASSETS are classified into categories such as Current vs. Non-Current, or Growth vs. Defensive, or Tangible vs. Non-Tangible. Does your plan include an asset that will generate CASH FLOW to pay for extended care? Many plans do not. What if the stock market is down? Will you need to sell rental property or your home? Is their Tax liability?
Extended care funding options are much more diversified than in the past. Several options include Traditional Long Term Care Insurance, Life Insurance, and Annuities which can be structured to generate cash flow to pay for extended care.
To over simplify these policies, many middle-income families have too many assets or income to qualify for Medicaid and are unable to afford a long-term care insurance policy. In an effort to encourage more people to purchase long-term care insurance, the Deficit Reduction Act of 2005 (DRA) created the Qualified State Long Term Care Partnership program. The program offers special long-term care policies that allow buyers to protect assets and still qualify for Medicaid when the long-term care policy runs out.
There are many Long Term Care options available that will provide CASH FLOW to pay for an extended care need. These include:
Our workshop will review respective options and discuss features and benefits of each. Please contact us to schedule a workshop for your group or business. Leave your pocket book at home. Nothing will be sold at this event!
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