Life is different today. No one knows what normal will look like a year from now. Access and cost of healthcare is front and center for most Americans. And retirement financial security may seem uncertain for many or a vertical climb for others. For 20 years we have focused on long-term care expense planning and consulting with clients about prudent funding options.

In this News Brief we cover the three key questions to review, discuss and answer to put a long-term care plan in place. We also detail a number of facts that are important to understand about long-term care. Risk, cost, funding options, products and more.

Although 2020 has taught us to be flexible and adapt, it has not changed the need for long-term care. Having a plan for care is an integral component of a financial plan and financial security in retirement.
Think through these three questions and you will be well on your way to having a plan for long-term care.
By the time we reach age 65, about 70% of us will need some level of long-term care in our remaining years.
I wrote this article before becoming an elder orphan. Now more than ever, I must have a long-term care plan in place.
Do you buy insurance hoping you will use it? Or do you buy it to offset the risk that you might need to someday?
Did You Know?

What is long-term care? Simply stated it is custodial care. It provides assistance to help people remain as independent as possible. It assists with activities of daily living defined as bathing, dressing, eating, toileting, continence and transferring. It also provides supervision for those with cognitive impairment. This care may be received in your own home, an adult day care facility, assisted living community, nursing home or hospice facility. It is very different from medical care which is designed as curative or preventive care.
Nicole Gurley, CLTC
Gurley Long-Term Care Insurance