MONEY: Long-term care insurance is fatal to retirement

http://www.ricedelman.com/cs/pressroom/pressroom_detail?pressrelease.id=1788

*** begin quote ***

Yes, this article is about long-term care insurance. As you know, the planners and I at Edelman Financial strongly encourage most of our clients to obtain long-term care insurance. AARP estimates that 70% of Americans who are age 65 today will require long-term care at some point; the average cost is currently $74,000 per year, and in many metropolitan areas the cost exceeds $125,000 annually, according to a 2010 nationwide survey of nursing homes by Genworth Financial.

*** end quote ***

We’ve seen estates drained as well. Hopefully, everyone can have the old folks protect their life’s work. Argh! At the very least, Medicaid Trust.

# # # # #

Please leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: