I’m 60, Do I Really Need Long-Term Care Planning? [Video]

Long-Term Care Insurance: Are you approaching 60 and considering your long-term care options? and wondering, what are hybrid long-term care solutions, and how do they compare to traditional long-term care insurance? Join Casey Weade, as he dives deep into the world of long-term care solutions. In this comprehensive video, Casey breaks down the complexities of long-term care, comparing traditional insurance policies with newer hybrid solutions. From effective rates of return to lifetime pay options and benefit pools, Casey’s insights will help you make informed decisions tailored to your unique needs. Don’t miss out on this invaluable guide to navigating the complex world of long-term care.

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Dive straight in:
00:00 Introduction to Long-Term Care Planning for 60-Year-Olds
02:00 Exploring Long-Term Care Options: Home Health, Assisted Living, Nursing Homes
06:04 Importance of Considering Other Income Sources
08:08 Understanding Hybrid Policies for Long-Term Care Benefits
12:22 Benefits of Indemnity Plans: Flexibility and Cash Benefits
14:26 Traditional vs. Hybrid Long-Term Care Insurance: A Detailed Comparison
18:13 How Traditional LTC Insurance Differs from Performance-Based Policies
20:06 Side-by-Side: Traditional Long-Term Care Insurance vs. Hybrid Options
23:55 Evaluating the Types of Benefits and ROI of Long-Term Care Policies
25:43 Comparing different Long-Term Care Solutions for a 4-year care period
29:27 How Insurance Policies Provide Consistent Returns Over 30 Years
31:15 Comprehensive Comparison of Long-Term Care Options
34:45 Integrating Long-Term Care with Your Overall Retirement and Income Strategy

#retirementplanning #retirement #insurance #longtermcare

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DISCLOSURE:
The rates of return referenced for long-term care products in this video are estimates only. They are included to demonstrate how best to compare competing long-term care products. These rates do not reflect returns for any Howard Bailey client, nor the return you should expect as a client of Howard Bailey. Please consult with a registered insurance agent before purchasing a long-term care product.
The rate of return for securities used in this video matches the average annual rate of return for the S&P 500 index.* This rate of return does not represent the actual or expected rate of return for any portfolio offered or managed by Howard Bailey Securities, LLC, a registered investment adviser. Working with Howard Bailey Securities, LLC, cannot guarantee investment success or that specific financial goals will be achieved.

For more information on professional designations, visit www.finra.org/investors/professional-designations .

Sources:

* https://www.officialdata.org/us/stocks/s-p-500/1928?amount=100&endYear=2023
https://www.genworth.com/aging-and-you/finances/cost-of-care.html/​
https://content.naic.org/sites/default/files/long-term-care-insurance-rate-increases-and-reduced-benefit-options-insights-from-interviews-with-financial-planners.pdf (see p. 8)