As the oldest baby boomers begin to wind through their 70s, one of the biggest concerns may not be outliving income, but outliving good health. The median cost of at-home care services is $23 an hour, and the median cost of an assisted living facility is $4,051 a month¹. Does your retirement income strategy account for this kind of possibility? Would you be prepared for twice that amount as a married couple?

Considering that you could have to reduce your financial means before Medicaid will pay for long-term care and neither your employer group health insurance nor major medical insurance will cover long-term care, you may want to consider planning ahead for these potential expenses.

We can help evaluate your situation and determine what kinds of products could fit into a comprehensive long-term care strategy, one that is suited to your needs and circumstances.

¹Genworth. March 30, 2020. “Cost of Care Survey.” https://www.genworth.com/aging-and-you/finances/cost-of-care.html. Accessed July 17, 2020.