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 these 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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Justin A. Goodbread, CFP®, CEPA,
CVGA, is a nationally recognized financial planner, business
educator, wealth manager, author, speaker, and entrepreneur. He has
20+ years of experience teaching small business owners how to
start, buy, grow, and sell businesses. He is a multi-year recipient
of the Investopedia Top 100 Advisor and 2018 Exit Planning
Institute’s Exit Planner Leader of the Year.
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