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February 2018 LTC Newsletter

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LTC in the News

The word is spreading. Major news outlets are letting the American people know the importance of long-term care planning. Are you? Here are a few recent third-party articles.

Top News

Why the WSJ is Wrong About Long-Term Care Planning

A recent Wall Street Journal article, “Millions Bought Insurance to Cover Retirement Health Costs. Now They Face an Awful Choice,” has been circulating on the internet but for all the wrong reasons. The WSJ piece essentially falls into the “bad news sells” category of reporting. While the article itself provides plenty of great statistics and touches on a very important topic, the article really misses the mark on two main points about long-term care insurance. Read more

Barron’s Guide to Retiring Well (Beverly Goodman, 11/11/17)

Some highlights/excerpts from this article which compiled responses from several of their top-ranked advisors in the retirement field.

  • Biggest misperception is around Medicare, and the notion that it will cover everything.
  • 4 out of 5 people have no idea what their health care costs will be in retirement, and over 60% indicate it is one of their greatest concerns.
  • An Employee Benefit Research Institute study found that a 65-year-old can expect to pay between $260K-$400K over a 20-year retirement period for health care expenses. This doesn’t include LTC costs which can average an additional $120K per year in the DC/New England area.
  • LTC insurance is recommended where it fits the client’s situation, and particularly for women since they live longer and use more care services.
  • The average premium is approximately $3,000 per year.
  • Newer options should be considered, i.e.  Hybrid and linked benefit plans with guarantees and death benefits.
  • The #1 concern for retirees is running out of money.
  • Reframe the conversation to be about maintaining good health.

Key take-away – Encourage LTC Planning with all your clients!

The Impossible Reality of Long-Term Care Planning

Unless you’re very rich or very poor, you should be looking into all of the long-term care possibilities out there. Because of the costs and complexity involved, the choice isn’t easy. But it is necessary.
Read more

Don’t Let Long-Term Care Costs Devastate Your Retirement

Can you afford $8,000 per month for care? Chances are, you’ll need to at some point. Some solutions to that pricey problem include long-term care insurance, “living benefits” and annuities. Read more

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Highland Capital Brokerage

Highland Capital Brokerage

Highland Capital Brokerage is committed to developing client-focused relationships with financial advisors using our core competencies of life insurance, annuities, and long-term care. We distinguish ourselves by providing point-of-sale support, advanced marketing, and creative estate and business planning techniques.
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