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November 2018 LTC Newsletter

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6 Options (or not) for Funding Long-Term Care Costs

It is estimated that one year of home health care – which averages roughly $44,000 nationally per year today – will cost approximately $96,000 by year 2032 (assuming a 4% rate of inflation, 40 hours/week).

The unpredictability of a chronic illness or long-term care event requires consideration of all the options available. Read more

3 Risk Management Solutions: Going “Long” on Longevity

64% of retirees who file for bankruptcy do so because medical expenses have wiped out their savings.

Before retirement, market volatility and inflation are top of mind risks to manage. During retirement, in addition to managing these risks come the risk of:

– living too long,
– annually increasing healthcare costs depleting savings, and
– leaving inadequate income for a surviving spouse.

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Top News

Here’s What Americans Fear About Living Longer

Americans fear health and financial woes will have a negative impact on living a long life, as could becoming burdens to their families. A new study from BMO Wealth Management, The Aging Economy: Improving With Age, finds that Americans aren’t approaching retirement without some substantial fears for how that retirement will go. Read more

The Hidden Reasons Why Alzheimer’s Caregivers Are So Stressed

Research shows that Alzheimer’s caregivers face significant physical, financial and mental burdens. In an October survey by the Associated Press—NORC Center for Public Affairs Research, about a third of caregivers said they struggled to manage their own health and had skipped going to the doctor—even when they were sick or injured—because of their duties. That’s especially concerning since dementia caregivers are themselves an aging group: 34% are now 65 or older.
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Home Care on the Maine Ballot

This referendum would have created a new Universal Home Care Program to provide in-home care to disabled people and seniors by taxing high-income earners in the state of Maine. This referendum was voted down in this month’s election by 63% opposed to 37% for the creation of the Home Care program. Takeaways from this ballot question and the results are two-fold — Long-Term Care is on the minds of everyone and paying for care is a concern, and since it was voted down –- the need for LTC insurance coverage remains strong and all advisors need to be talking to their clients about their options.
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Long-Term Care Marketing Resources

What to Know Before Applying for Long-Term Care Insurance

Many factors go into evaluating long-term care insurance applications and whether people are eligible for coverage. View this prescreen flyer that allows you to prescreen your clients to help ensure they will be approved for coverage.

9 Myths About Aging and Long-Term Care

Navigating your Later Years for Dummies, by Carol Levine serves as a guide to pretty much everything you need to know about aging. With each passing day, we are all a bit older but we don’t have to fall for any retirement or aging myths that could damage our golden years.
Read more

Are your clients protected? [Video]

Everyone likes a back-up plan. And Long-Term Care (LTC) Awareness Month is a great opportunity to remind your clients why it’s important to have one.

Use Securian’s “Smart Planning for Future Care” consumer video to help your clients learn more about the world of caregiving, the potential risks of not being financially protected, and the possibilities having a long-term care strategy creates
Watch now

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