Are you retiring anytime soon? Are you worried that you will have enough money? What happens to your money if you get sick, or need long term care during retirement?
The statistics are from 35% to as much as 70% may need some form of long term care before they pass away, and the costs could run in the tens of thousands of dollars. Many people don’t want to get long term care insurance because they may not use it, and like a lot of insurance programs, you end up paying a lot of money for something you may never use! It’s a roll of the dice, but there are alternative ways to get some long term care protection. In particular, a “hybrid” insurance approach could be a great way to have LTC protection, but still have significant benefits if you don’t need to use. Best of all, some of these policies can even include coverage for critical illnesses, like cancer, heart attack, or stroke, which can also be financially devastating. We wanted to share this article that was presented on NBC’s Today show, January 10th.
Read the Today Show Article (includes informative videos):
If you don’t have $250,000 to spare, how to pay for long-term medical bills?
If you want to have a healthy retirement, there’s a big wild card you need to be prepared for: health care expenses. Medical costs, especially unexpected ones, can add up. A 65-year-old couple will need an estimated $260,000 to pay for unreimbursed medical expenses through retirement — and that doesn’t include long-term care, according to Fidelity Investments… READ MORE >