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Disclaimer: This eNewsletter and all links to other sources should not be construed as tax or legal advice because it is not either. Raymond Smith, The Long Term Care Specialist, does not give legal or tax advice. Consult your tax advisor or attorney for these matters.
Thank you for reading this eNewsletter. The world of long term care insurance is moving toward gender-based pricing. This means higher cost of NEW policies for women. At this writing, Genworth Life Insurance Company is introducing higher rates for single women in all states except Colorado & Montana. This could soon change, with Colorado being added. John Hancock Life Insurance Company will have higher rates for women everywhere except Montana effective by the end of this month. Other insurance companies are expected to follow. This is a rapidly-evolving subject. Expect an update in the May edition of the Planning for Long term Care eNewsletter.
The bottom line for women: Apply for long term care insurance now, before your rates go up.
We are now on:
$245/Day, $7,452/Month Current Median Cost of Care in Metro-Denver
Genworth Financial has conducted an annual survey of the cost of various long term care services for the past 10 years. The 2013 survey shows care cost in every state & many metropolitan areas...See actual survey. To see the survey on a mobile device, Click here. Care is expensive...you must have a plan.
for her permission to use this article.) When my Dad lived in assisted living, he bought a scooter to get around and about. It sounded nice, and was fun to drive. But he probably wouldn't have died in a nursing home if he had forced himself to continue the boring chore of walking. He began riding to... Read More
A plan to pay for Long Term Care services is not a financial plan. But a financial plan that does not address long term care can not be a complete financial plan.
Sincerely,
Ray Smith
Raymond Smith, CLU, CLTC, MBA The Long Term Care Specialist
Planning for Long Term Care
