Episode 009: Learning about Long Term Care Insurance
Planning for the Aging Process & Long Term Care Insurance
In this episode of the Aging in America podcast, we discuss financial planning (specifically end of life care and long term care insurance) with Craig Sundberg, a financial advisor with Mass Mutual. Many people don’t think about long term care insurance until it’s too late – and it’s either too expensive or an individual’s health prevents them from being able to purchase coverage.
Long term care insurance helps protect your assets from being used for care and maximize your options for care if you become chronically ill or have a severe cognitive impairment. Putting a plan in place earlier in life may help you ensure that you will receive the quality of care you want in the setting of your choice, should you need it.
Craig works with individuals, families, and business owners to establish goals and develop a strategy designed to help his clients reach those goals. He takes a holistic approach when making recommendations to help ensure they fit his clients overall financial situation. With more than 25 years in the financial and insurance industry, Craig has helped hundreds of individuals in the Midwest region.
In this episode you will learn:
- Trigger points for long term care insurance to pay for care
- Why people hesitate or wait to purchase coverage and why this can limit their ability to utilize long term care insurance
- What people wish they had taken care of sooner
- What conversations one should have with an aging loved one
- Why the long term care insurance arena has grown over the last 2 decades
- What options are available to pay for care
Links and/or resources mentioned in this episode: