The specialists at Franklin & Associates will help you analyze, compare and customize solutions for long term care planning and financing.
- Policies that reimburse you for the expense of care at home or in a facility and include many “aging in place” features.
- Shared plans for couples including a survivorship option (premium is paid up when policy has not been used in the first ten years and one spouse dies).
- State Partnership programs – The State will disregard the policyholder’s personal assets equal to amounts paid out under a qualifying long term care insurance policy when determining Medicaid eligibility.
- Often referred to as “Hybrid” or “Combo” policies, these policies have the benefit of blending two forms of coverage into one. If you don’t use the long term care insurance, you can still benefit from the life insurance or annuity
- Private insurance that fills the “gaps” in Medicare Part A and B coverage.
WORK WITH AN EXPERT
- HEALTH – personal health and family medical history.
- FAMILY CIRCUMSTANCES – marital status and desirability of family support.
- DEPENDENCE ON PUBLIC FINANCING – eligibility for public programs.
- FINANCIAL RESOURCES – current and projected availability of income, savings and other assets.
- DESIRED LIFESTYLE – comparison of “aging in place” options.
- QUALITY OF CARE – desirability of home care and/or facility care.
- ESTATE PLANNING OBJECTIVES – asset protection/preservation for heirs
- TAXATION – implication of tax incentives and deductibility.