Long-term care is a subject that is becoming more and more talked about in the world of finance. The odds of an individual needing any sort of long-term care are much greater than the odds of a person passing away early in life. For this reason, long-term care insurance policies are growing in popularity.
But what happens if you get to a stage in life that a traditional LTC insurance policy isn't an option anymore? Either due to your medical history, cost, or age. How can you make sure that any potential long-term care needs are taken care of?
In this video I break down 3 options pharmacists may want to consider as they begin their long-term care planning process.
These three options are outside of the traditional buy a long term care insurance policy scope.
1.) Use your home equity
2.) Ear mark a portion of your current retirement funds for future LTC use
3.) Use the death benefit of any current life insurance policies.