For the last five years, long term care providers have increased the rates of long term care insurance. This is the main reason behind the statistics that 80% of Americans have not prepared for their retirement. For some people, who are at risk of getting long term care in the future, especially those with limited resources, seek the help of their adult children. And now with the filial responsibility law, there is a provision that puts the responsibility into the shoulder of adult children if their parents can’t afford it. It is thus a necessity to discuss getting this kind of annuity among family members while they are young. With this, you have the chance to pay premiums at a lower rate and you can better manage your financial assets.
Are you prepared? Or are you at risk?……
- Senior Healthcare – What Are Your Options? (longtermhealth.wordpress.com)
- Finances and Your Aging Parents (creditrepair.com)
- Boomers Need to Talk About Long-Term Care (dailyfinance.com)