Long Term Care Planning in a Recessionary Environment

The current recession, market volatility and investment losses have many Americans questioning their ability to achieve financial security. In light of this unprecedented economic uncertainty, now is the time to revise risk management strategies and reevaluate your retirement planning. Until recently, many investors were planning on using their retirement assets to self-insure the cost of long-term care. With the deterioration of the market, these funding strategies have been severely compromised. Advances in medical treatment and technology are extending our lives longer than ever before. Unfortunately, living longer does not guarantee your quality of life. As we age, there is a greater likelihood that an individual will experience some type of acute or chronic ailment that requires medical or extended healthcare. This potential medical need, in turn, creates necessity for post-retirement healthcare planning.

Graham Fuller addresses this issue from a personal risk management perspective. He discusses the recession’s impact on long-term care, providing insights and tips for planning. Graham also discusses the alternative funding options, LTC Insurance, and the tax treatment of LTC Insurance. Additional topics include pending legislation, medical underwriting, pricing and best practices for business owners.