How Long Should I Breastfeed My 3 Day Old Baby Afraid of Going Broke in Your Golden Years? Plan for Long Term Care Today

You are searching about How Long Should I Breastfeed My 3 Day Old Baby, today we will share with you article about How Long Should I Breastfeed My 3 Day Old Baby was compiled and edited by our team from many sources on the internet. Hope this article on the topic How Long Should I Breastfeed My 3 Day Old Baby is useful to you.

Afraid of Going Broke in Your Golden Years? Plan for Long Term Care Today

The baby boom generation is headed into waters, uncharted waters when it comes to their long-term care needs. By 2020, nearly 55 million Americans will be 65 or older, and life expectancies continue to increase. In years past, analysts noted the impact of senior care on the so-called “sandwich generation”—adults who were responsible for their aging parents as well as their own children. With life expectancy increasing, the sandwich generation of the future may well relate to people in their 70s caring for their parents in their 90s, or adults in their working years helping two generations above them. With the looming prospect of serious long-term care needs, it is essential for individuals and families to get serious about their personal financial planning and have a plan to pay for a long-term care event.

For many families, long-term care insurance (LTCI) can make all the difference. LTCI coverage directly addresses the care expenses of aging or disabled individuals, in the setting that best suits their wants and needs. Whether the setting is your home, assisted living, or nursing home, LTCI benefits supplement other income and assets to minimize the impact of those expenses.

Customer Study: LTCI Protects Care for 97 Year Old Great-Grandmother

Ruth is a 97-year-old great-grandmother who bought an LTCI policy 18 years ago at the urging of her son. Three years ago, still living independently, she recognized that she needed help with her activities of daily living and moved into an assisted living facility using her LTCI benefits.

Last year, she was diagnosed with dementia. She was moved into the facility’s dementia unit, where she receives ongoing care and continues to receive LTCI benefits. The current cost of her care is $6,900 per month. Her LTCI benefit pays $150 per day, or $4,500 per month, about 65% of her LTC costs. The remaining $2,400 is drawn monthly from her social security benefits and savings.

Assuming she continues to collect benefits, she will have collected $216,000 by the time she finishes her four-year benefit period. Now on Waiver of Premium, Ruth has paid a total of $48,900 in premiums since the inception of the policy. Her LTCI policy allowed her to pay for her care without depleting her savings and continue Medicaid.

Is LTCI a good choice for you or your family?

Here are some considerations that should be part of your discussion:

Educate yourself about long-term care realities. Ready for sticker shock? The average cost of a private room in a nursing home now exceeds $90,000 per year, and the average stay in a nursing home lasts nearly three years. Government insurance programs other than Medicaid do not address long-term care issues.

Plan ahead – far ahead. LTCI premiums are most affordable when individuals join while still relatively young and healthy. LTCI buyers in their 40s or 50s can pay thousands less per year than older buyers, and few companies will write policies for individuals over 75. Health and family history will also affect the cost of premiums and availability of coverage.

Take care of Mom. Most of us are familiar with the fact that women tend to live longer than men. Industry statistics show that 71% of new claims are from women. As a result, women’s premiums for LTCI are usually higher than men’s (as opposed to life insurance, where women usually pay lower premiums). However, the investment is worth considering the greater potential expenses they face. As mentioned above, purchasing LTCI at a relatively young age can help lower premiums.

Customize a plan to suit your needs. LTCI products are available to suit very specific priorities. Choices abound in terms of amount of coverage, deductibles (often called waiting periods for eligibility), benefit increase options that take inflation into account, and specialized joint plans for couples. Insurance advisors often create combination plans with annuities or life insurance, taking advantage of tax laws for both traditional and asset-based plans. These tax benefits may include tax-free LTC benefits and/or a 1035 tax-free exchange for asset-based life/annuity plans with an LTC rider.

Obviously, expert guidance is imperative to consider these factors. Buyers should seek out insurance professionals with a strong background in LTCI who can fully describe the benefits and limitations of a plan. It makes sense to consult experts in your community; costs can vary widely by geography and these experts will have the best access to accurate, relevant information.

We all have to face the real changes that occur as we age and consider the best way to protect our assets and our families. For those with the foresight, ability and commitment to establish that protection, LTCI is a proven strategy that works.

Video about How Long Should I Breastfeed My 3 Day Old Baby

You can see more content about How Long Should I Breastfeed My 3 Day Old Baby on our youtube channel: Click Here

Question about How Long Should I Breastfeed My 3 Day Old Baby

If you have any questions about How Long Should I Breastfeed My 3 Day Old Baby, please let us know, all your questions or suggestions will help us improve in the following articles!

The article How Long Should I Breastfeed My 3 Day Old Baby was compiled by me and my team from many sources. If you find the article How Long Should I Breastfeed My 3 Day Old Baby helpful to you, please support the team Like or Share!

Rate Articles How Long Should I Breastfeed My 3 Day Old Baby

Rate: 4-5 stars
Ratings: 3173
Views: 99112517

Search keywords How Long Should I Breastfeed My 3 Day Old Baby

How Long Should I Breastfeed My 3 Day Old Baby
way How Long Should I Breastfeed My 3 Day Old Baby
tutorial How Long Should I Breastfeed My 3 Day Old Baby
How Long Should I Breastfeed My 3 Day Old Baby free
#Afraid #Broke #Golden #Years #Plan #Long #Term #Care #Today

Source: https://ezinearticles.com/?Afraid-of-Going-Broke-in-Your-Golden-Years?-Plan-for-Long-Term-Care-Today&id=9176333

Related Posts

default-image-feature

How Long Should I Breastfeed A 3 Week Old Baby Hercules Vs Heracles: Using The Movie To Test On The Myth

You are searching about How Long Should I Breastfeed A 3 Week Old Baby, today we will share with you article about How Long Should I Breastfeed…

default-image-feature

How Long Should Diarrhea Last In A 3 Year Old Bleeding Piles

You are searching about How Long Should Diarrhea Last In A 3 Year Old, today we will share with you article about How Long Should Diarrhea Last…

default-image-feature

How To Remove Old Number From Galaxy Note 3 Settings Dream World Science: We Will Need to Discard Materialism to Find a Theory of Everything

You are searching about How To Remove Old Number From Galaxy Note 3 Settings, today we will share with you article about How To Remove Old Number…

default-image-feature

How Long Should A Baby Sleep At 3 Weeks Old Memories of Firebase Illingsworth, Vietnam

You are searching about How Long Should A Baby Sleep At 3 Weeks Old, today we will share with you article about How Long Should A Baby…

default-image-feature

How To Remain Positive While Raising A 3 Month Old Gratitude: Principles and Strength

You are searching about How To Remain Positive While Raising A 3 Month Old, today we will share with you article about How To Remain Positive While…

default-image-feature

How To Relieve Constipation In A 3 Week Old Baby Taking Care of Nutrition in Pregnancy

You are searching about How To Relieve Constipation In A 3 Week Old Baby, today we will share with you article about How To Relieve Constipation In…