Long Term Care

Medical and non-medical services for people who are unable to care for themselves as a result of disability or illness fall under the category of long term care services. Long term care providers may assist in meeting both medical and personal daily needs--such as feeding, bathing, using the toilet and dressing. In industry jargon, these basic tasks are referred to as ADLs or basic assisted daily living activities. Long term care services can be offered at a person’s residence, in a retirement home, in assisted living facilities and in nursing homes. Long term care services are expensive and depending on the intensity and level of care, can exceed several thousand dollars per month. Some people choose to purchase long-term care insurance to cover these potential costs.

Top Financial Planner Comments on Immediate Annuities, Longevity Insurance and Long Term Care

One of the nation's top financial planners is bearish on the recent upsurge in immediate annuity sales. An advocate of maintaining options and flexibility with retirement planning , this financial advisor sees immediate annuities as too restrictive for many financial plans. In contrast to the views on immediate annuities, longevity insurance or longevity annuities are discussed in light of the income and asset allocation options they create for retirees: "Of all the products that are out there...

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