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Medicare doesn’t cover long-term care. If you thought it did or haven’t purchased long-term care insurance for any other reason, Adam has 10 things for you to think about before you make your final decision.
In this episode, Adam Scott, CFP®, introduces a dear friend of his, Jennifer Burnham-Grubbs, Founder of Quantum Insurance Services and Women Of Wealth, to go over 10 things you should know about long-term care insurance.
Adam introduces the list with a personal story about his family’s experiences with needing long-term care before diving into the ins and outs of long-term care, unravelling the crucial factors determining whether it’s right for you. From understanding the amount of coverage you need, to discovering who can benefit from long-term care insurance.
Adam and Jennifer discuss:
- Adam’s personal experience about his mother and mother-in-law, one who had long-term care insurance and one who didn’t
- What long-term care insurance is and why you may or may not need it
- The different kinds of long-term care solutions
- Why long-term care insurance is pricey but worth the cost
- What the best age is to get long-term care insurance
- How much coverage you may need
- Who long-term care insurance works best for
- Why even the wealthy may need long-term care insurance
- And more
Related: How To Choose a Great CPA