Your Estate

Government programs for long-term care

Government programs for long-term care

If you have a low income, little to no savings, no valuable assets, or if you simply can’t afford traditional long-term care insurance, you may be eligible to receive long-term care benefits from the government. Federal Long-Term Care Insurance Program FLTCIP is...
Using a trust to pay for long-term care

Using a trust to pay for long-term care

According to the U.S. Department of Health and Human Services, individuals 65 and older have a 70 percent chance of needing long-term care at some point in their remaining years. The average cost of a semiprivate room in a nursing home is $6,844 per month, and the...
Using annuities to pay for long-term care

Using annuities to pay for long-term care

There are many ways to pay for long-term care, including long-term care insurance, health savings accounts, Medicaid, trusts, reverse mortgages, and personal savings accounts. You can also use annuities to pay for long-term care. What are annuities? Annuities are...
Use a reverse mortgage for long-term care

Use a reverse mortgage for long-term care

If you don’t have long-term care insurance (LTCI), there are other ways to pay for long-term care. Taking out a reverse mortgage is one of them. What is a reverse mortgage? If you’re 62 or older, you can take out a loan against your home equity to access funds through...
Pay for long-term care without insurance

Pay for long-term care without insurance

According to industry research, just a few years ago, long-term care insurance (LTCI) cost Americans over $2,700 each per year. It’s no wonder that more and more Americans are choosing not to buy LTCI. In 2017, a study conducted by the Harris Poll found that 75...
Long-term care insurance vs. term life

Long-term care insurance vs. term life

Most Americans will need long-term care. Unfortunately, it’s extremely expensive and can deplete your finances quickly if you aren’t prepared to pay for it. Many people get long-term care insurance (LTCI) to cover the costs. You may have also heard about term life...