Medicaid is a widely utilized government program to help with health costs, with over 90 million Americans enrolled in Medicaid or CHIP as of August 2022. Among benefits provided by the program, is assistance paying for long-term care that costs $1,625 per month on average throughout the United States. After retiring, seniors may find their finances stretched […]
What Is Medicaid’s Look Back Period and How To Avoid It Read More »
Acknowledging your elderly parent or loved one isn’t as self-sufficient as they used to be is difficult for many people to accept, but recognizing the signs and taking the proper steps is important for their long-term health. As your parent becomes older or their condition deteriorates, you may find yourself having to devote more time
Does Your Elderly Parent Need 24-Hour Care? Read More »
As inflation and the cost of living goes up, many people are looking for ways to save and stretch their dollars further. Luckily for seniors, many stores and restaurants offer discounts to people above a certain age. If you’re not sure which places offer discounts or which ones are worthwhile, we’ve compiled a list of
The Top of Senior Discounts of 2023 Read More »
In 2024, the median cost of a a private room in a nursing home is $9,872 per month or $8,641 for a semi-private room. Annually, this amounts to over $100,000 a year which is high enough that even seniors with a good monthly retirement income may struggle to pay expenses. So what happens if
How to Avoid A Nursing Home Taking Your House Read More »
Medicaid is a government program that provides healthcare benefits and financial assistance for low-income individuals including children, parents, seniors, and people with disabilities. The program is jointly funded between the states and federal government, and each state operates their own Medicaid program with unique benefits available for eligible individuals. While Medicaid benefits vary by state,
Medicaid Estate Recovery: Explanation, Process, & How to Avoid Read More »
Adverse selection is a concept with a widespread impact on the insurance industry. Learn everything you need to know about adverse selection in this helpful guide.
What is Adverse Selection and Why Does It Matter For Life Insurance? Read More »
Life insurance is a long-term asset. Over the decades a life insurance policy is in force, your client’s financial situation is likely to evolve. Sometimes, that evolution is so significant that the existing life coverage is no longer a good fit.
Financial Advisors: Should You Use a 1035 Exchange to Optimize Life Insurance? Read More »
An inforce illustration is an estimate of how a life insurance policy’s cash value balance will change over time. The illustration can be incredibly useful in your financial planning, because — unfortunately — life insurance policies can go sideways.
What Is An Inforce Illustration and Why You Should Request One? Read More »
Learn how a long-term care rider can help pay for care, plus alternatives like life settlements and Medicaid to maximize your financial options.
Long Term Care Riders, Insurance, And Alternatives Explained Read More »
A chronic illness rider is a feature available on life insurance that funds long-term care costs when you have a permanent or terminal illness. Some chronic illness riders specify the conditions or diseases that are eligible for benefits, but many do not.
Guide to Chronic Illness Riders and Options Beyond Insurance Read More »
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