The Complete Cardinal Guide




Long-Term Care.

Long-Term Care Insurance 

■  For information on your personal long-term care insurance options, fill out the form below.

■ Americans on average are living longer lives. In case this ends up being true for you, you could become frail, memory impaired, and end up needing care. The financial consequences of that care can be devastating to families paying out of pocket.

 Long-term care doesn’t mean you’ll end up in a nursing home. In fact, most of our clients prefer and opt into alternate options; this includes home health care, assisted living, and adult day care. Progressively more people are cared for at home with paid assistance coming in to help.

■ Financial strategies for financing long-term care include short-term care insurance, traditional long-term care insurance, hybrid long-term care insurance, and/or a financial plan for self-insurance. These solutions can be mixed and matched to come up with your personal plan.

Related Blogs.

Planning on self-insurance for long term care? What that means for you and your family

The Federal Interagency Task Force on Long-Term Care Insurance recently found that only 10% of people who could purchase some form of long term care insurance actually hold a policy.  That leaves 90% of people self-insured against long term care, meaning they are...

What does the U.S. Department of Treasury’s 2020 report mean for your long term care?

In August 2020, the U.S. Department of the Treasury released the report of the Federal Interagency Task Force on Long-Term Care Insurance.   This is a fancy way to say that the federal government gathered a bunch of different people to put out a report with...

Life Insurance, Lifetime Long Term Care coverage, and Guaranteed Premiums: An example of a Hybrid Long Term Care Policy

Many retirees come to us wanting to know how they can better use the money they have in retirement. They are also highly aware of the risk of outliving their money. Usually, the one event that is going to send their budget sideways is the cost of long term care. For...

When does Medicare cover Long term care?

Many Medicare beneficiaries only plan for paying for long term care is Medicare. They are shocked when they find out Medicare does not cover long term care.  Of course, Medicare does cover medical services in long term care settings, such as doctors visits and such,...

Using Life Insurance to pay for Long Term Care Insurance

No one wants to pay for something and possibly never use it. Hybrid long term care insurance gives consumers a way to insure themselves against long term care costs as well as leave their family a benefit if they don’t end up needing care.  Simply put, a hybrid policy...

What’s the best age to buy long term care insurance?

Too often, clients only seek long term care insurance once it is too late. The cost for the care they want, usually home health care, becomes prohibitive at this late stage. For most people, long term care insurance is an option worth considering earlier rather than...

Long-Term Care Insurance continued.

 Consider a Partnership long-term care policy, which allows you to go on Medicaid while protecting some of your assets.

 Medicaid is a last resort to pay for your care.

 Get professional help from an independent insurance agent and a financial professional who specializes in eldercare and long-term care.

 If you are relatively affluent, there can be tax advantages in planning for long-term care.

Cardinal Lessons with Hans.

Useful Documents.

A Shopper’s Guide to Long-Term Care Insurance, published by the NAIC, helps people understand LTC and the insurance policies available.

Read the Long-term care chapter from “The Complete Cardinal Guide to Planning for and Living in Retirement”!

Read the Long-Term Care chapter of “The Complete Cardinal Guide to Planning for and Living in Retirement” Workbook!

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