Episode 019 - Listener Question
Manage episode 439471959 series 3540814
Summary
In this conversation, Amy and Mike discuss long-term care insurance and how to plan for long-term care. They explain the different types of insurance available, including traditional long-term care insurance and hybrid long-term care insurance. They also discuss the option of self-insurance and the importance of having a plan in place. They highlight the uncertainty and cost associated with long-term care and emphasize the need for independent advice when making decisions about long-term care insurance.
Chapters
00:00 Planning for Long-Term Care in Retirement
06:05 Options for Dealing with Long-Term Care
10:30 The Challenges of Long-Term Care Insurance
12:52 The Importance of Having a Plan for Long-Term Care
12:55 Understanding the Types of Long-Term Care Insurance
16:19 Exploring the Federal Long-Term Care Insurance Policy
20:09 The Benefits of Hybrid Long-Term Care Insurance
22:10 Considering Annuities as an Insurance Product for Long-Term Care
Takeaways
There are different types of long-term care insurance available, including traditional long-term care insurance and hybrid long-term care insurance.
Self-insurance is an option, but it is important to consider the high cost and uncertainty associated with long-term care.
Having a plan in place for long-term care is crucial, and it is recommended to seek independent advice when making decisions about long-term care insurance.
Long-term care insurance can be expensive and complex, so it is important to understand the different policies and options available.
Operation Retirement Readiness: www.operationretirementreadiness.comSchedule a consultation with Mike: https://nextmissionfinancialplanning.com/contact/ Schedule a consultation with Amy: https://www.instarfp.com/contact Disclaimer: This podcast represents the views of the hosts and any guests. It is for informational purposes only and should not be considered tax, financial, or legal advice. All information is regarded to be from reliable sources. The hosts are not responsible for any losses, damages, or liabilities that may arise from the use of this podcast. This podcast is not intended to replace professional, individualized advice.
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