Learn about the financial topic “Long-Term Care” on this week’s “Ask The Experts” episode on iHeart Radio. Josh W. Strittmatter CFP®, CRC®, Founder and CEO of Strittmatter Wealth Management Group answers your most pressing financial planning questions about long-term care insurance.
Traditional long-term care policies work much like policies for auto or home insurance: You pay premiums, usually for as long as the policy is in effect, and make claims if you ever need the covered services.
Long-term care benefits begin once you can no longer perform a set number of the so-called activities of daily living — such as bathing, dressing, eating, using the toilet, getting in and out of beds and chairs, and managing incontinence — or become cognitively impaired. At that point, premiums typically are waived while you receive benefits.
This week’s episode answers these questions:
- “Is disability insurance from an employer the same as long-term care insurance?”
- “What all goes into the underwriting process for long-term care?”
- “Are shared long-term care insurance policies available for spouses?”
- “How long does it take to obtain access to my long-term care insurance benefits once I get a policy?”
- “How can I get long-term care insurance with pre-existing health conditions?”
- “Who does and does not need long-term care insurance?”
- “What happens if I forget to pay my long-term care premium?”
- “What are riders in long-term care insurance, and how do they work?”
- “Since I am in good health, why would I need to be concerned with long-term care insurance?”
- “How can Strittmatter Wealth help me with long-term care insurance?”
To listen to next week’s episode live, dial to 1190AM at 10:00 am each Saturday for more answers to your questions on financial planning hot topics.
All information discussed is meant to be for educational purposes only. For more information and key disclosures, click HERE.