Jul 29, 2019
In episode 177 of Financially Simple, Justin discusses Long-Term Care policies and coverage with expert Jim Detar.
Long-Term Care policies have changed over time as insurers adjust to the trend of increasing the amount of care. Justin and Jim Detar go over the trends, what to look for in a policy, and alternative options to Long-Term Care policies.
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01:14 - How to Pay For Long-Term Care
01:43 - Speaking with Expert Jim Detar
02:59 - What is Long-Term Care?
04:14 - Pooled Risk
06:06 - Recent Trends
10:12 - What to Look For in a Long-Term Care Policy
10:59 - The Benefit Dollar Amount
12:22 - The Deductible Period
13:01 - The Benefit Period
15:29 - Home-Care Insurance Policies
17:49 - Is Long-Term Care a Medically Underwritten Policy?
19:52 - Can a Life Insurance Policy Cover Long-Term Care?
22:13 - Annuities
24:36 - Wrap Up
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Host Justin Goodbread, Certified Financial Planner, Certified Exit Planning Advisor, Certified Value Growth Advisor. He is a serial entrepreneur, author, speaker, educator, Investopedia Top 100 advisor, and business strategist with over 20 years of experience. Justin owns Heritage Investors LLC, a registered investment adviser with the State of Tennessee. Heritage Investors only transacts business in states where it is properly registered or is excluded or exempted from registration requirements. This material is for general information only and is not intended to provide specific advice or recommendations for individuals. To determine what is appropriate for you, please consult a qualified professional. The Financially Simple podcast provides information, guidance, and support to Small Businesses in the United States.