It’s no secret that people tend to live longer than the generations before them. As medical research advances, so does life expectancy and the day to day tasks life involves. There comes a point in almost everyone’s life where their bodies become less and less capable of taking care of themselves on their own and [...]
This is an increasingly common scenario. Perhaps one or both of your parents are having health problems, suffering mental lapses, or just slowing down with age. The problem may not go away or get better, but there are several ways you can deal with it. First, talk with your parents and any siblings you may [...]
A new tax law with some very favorable tax treatment for long term care benefits from annuities and life insurance has been passed. As of January 2010, any withdrawals or early distributions from life insurance or annuity products to pay tax-qualified long-term care expenses will be tax free – yes, tax free!
There’s really no such thing as nursing home insurance. What you’re probably referring to is long-term care insurance (LTCI), which typically provides coverage for several different types of long-term care, including nursing home care. For example, home health care, adult day care, and assisted-living care will also be covered under a typical LTCI policy.
Although LTCI [...]
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