Financial Planners are failing big time to educate their age 65 or over clients about one of the most significant financial decisions they will make. Medicare applicants are confused about which health plan is right for them. Many seniors do not know enough about plan components, are bombarded by Medicare advertising, and lack the knowledge to choose a plan that meets their needs.… Read the rest
HGC, an Aging-In-Place research and product development company based in Connecticut partnered with non-profit Arctos Foundation to survey Americans’ preparedness for long term care.
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- 70% of respondents have no advance directive in place, and just one in ten have long-term care insurance.
Annuities were once simpler financial instruments than they are today. Issued by insurance companies, annuities offered savers a guaranteed interest that compounded tax free until the funds were needed at a later date. Now, they are highly complex financial instruments with a variety of features, interest options, charges, and penalties.… Read the rest
The emotional stress of dealing with one’s impending death due to a terminal illness like cancer, AIDS, etc., is further compounded by the customary increase in medical bills and a likely reduction in earning capacity.
A person owning life insurance policies may have several options for reducing some of his or her financial concerns.… Read the rest