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Make long-term care part of financial plan

As a doctor, you understand the financial struggles many elderly individuals and their families go through to pay for medical care. That knowledge means you have few excuses when it comes to planning for your own late-in-life medical needs, especially if you're approaching retirement. Many fina...

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Bibliographic Details
Published in:Medical economics 2012-11, Vol.89 (22), p.68-68
Main Author: Sloan, Jim
Format: Magazinearticle
Language:English
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Summary:As a doctor, you understand the financial struggles many elderly individuals and their families go through to pay for medical care. That knowledge means you have few excuses when it comes to planning for your own late-in-life medical needs, especially if you're approaching retirement. Many financial advisers emphasize the need for a guaranteed income stream during the years following retirement so they recommend delaying the receipt of Social Security benefits if possible. Another component that is just as important to retirement planning -- one that many overlook -- is long-term care planning. A largely overlooked alternative to the traditional and self-insuring approaches is asset-based long-term care coverage. Asset-based long-term care plans are an effective, secure way to plan for the moment medical service is needed.
ISSN:0025-7206
2150-7155