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It’s Personal to Me
Apr 2 2014
Corey Reick
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It’s critical to know who surrounds you, particularly when you are contemplating conducting business.

Long Term Care is a deeply-personal topic that everyone should learn about, hopefully before it is too late. One of the reasons I feel so strongly about this matter is that we, as a family, did not take advantage of health qualifying for long term care insurance when we had the chance. My mother and father reviewed this issue over 30 years ago, and like many, did nothing at the time. Unfortunately, after considering the issue– my mother became uninsurable in the interim and also—like many—realized that although money pays for it, health buys it.

As a result of this personal experience, I have focused on Long Term Care Education and Planning since 2001. When I began to concentrate on Long Term Care, I first focused on helping others get to an understanding of what Long Term Care is and once this is accomplished—after learning more about them and their circumstances— could secondarily articulate what action or inaction could mean for themselves and their families while at the same time understanding that there really is no right or wrong answer on this issue. There is, however, your answer.

If my experience could help you and your family, I’d be more than happy to share it.

 

You call it “Insurance.” Your family calls it “Re-assurance.”
Sep 16 2014
Corey Reick
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Not having a Long Term Care plan can have many consequences. The most devastating could be the lack of financial security for your family in the future.

To avoid this, follow a simple 3-step process:

  1. Education – pick a product neutral advisor to educate you on your best options
  2. Underwriting – based on your advisor’s feedback, pick a carrier and strategy to be successfully underwritten
  3. Funding – allow them to help formalize a plan to reach your financial and insurance goals

Having a Long Term Care plan is the best gift you could ever give your family; the “re-assurance” that they are no longer responsible for your future care.

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Should you, as a “C Suite” Executive, consider Long Term Care?
Mar 31 2016
Corey Reick
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The obvious answer to this question is that there isn’t one answer. Long Term Care Planning isn’t for everyone, but Long Term Care EDUCATION is.

If you have had a personal experience with Long Term Care this may in part shape your thinking—and you are probably fully aware of the matters surrounding the Long Term Care issue—like the costs, the time it may require for you to deliver care and in many cases the stress and anxiety that can come with it—not to mention the pressure that it can put on an executive’s income, investments and financial plan.

If you have not had this experience, it may be a next logical consideration for your financial plan, or if you have executive benefits in your company, the next logical executive benefit that you consider.

Here are a few reasons why executives should consider Long Term Care for themselves and their organizations:

  • Tax favorability
  • Further protection of income
  • Funding strategies
  • Selection of key executives for inclusion into this benefit based on a predetermined set of criteria
  • Protection of lifestyle
  • Underwriting strategies
  • Plans can be created and specifically tailored to each executive
  • Plans can also be a benefit that is offered to your employees and funded completely by them

Effective Long Term Care Learning and Planning is predicated on 3 agreements:

  1. Do you expect to live a long life?

IF YES, THEN–

  1. If you live long enough, is it reasonable to assume and say that you may require Long Term Care related assistance at some point?

IF YES, THEN–

  1. If the Long Term Care issue and its associated challenges present themselves to you and your family, do you realize that it is no longer about you?
    1. It is about the emotional and physical consequences that often come as a result of care giving and the toll this takes on caregivers.
    2. The second set of consequences can be financial which can affect income, family lifestyle and your overall financial plan.

Said differently, an unfunded or underfunded Long Term Care event doesn’t mean your life will end. It means someone else’s will.

Often, if you do not plan adequately for Long Term Care, your family becomes your plan.

What’s Next?

Privately speak to expert Corey Rieck to find out if Long Term Care Planning is right for you

Or

Answer 4 Short Questions to Learn More 

 

Close the retirement strategy loop with Long Term Care Planning
Sep 19 2017
Corey Reick
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Health insurance can sometimes provide a false sense of security when it comes to understanding the resources that will be made available for long term care. It is essential to know where coverage begins and ends. Without long term care planning, even the best retirement strategies are vulnerable. You cannot fully assess this unless you understand the costs of Long Term Care and the definitions to navigate these matters.

Read our Long Term Care Planning Essentials or avail a free consultation to learn more about:

  • How Long-Term Care is defined
  • The important distinction between skilled and non-skilled care
  • The financial costs of long term care in your area
  • The perspective between premiums and benefits
  • Buyer tips and considerations
If you want to get your Long Term Care Planning right for you and your spouse, you must speak to Corey. His Phase I made sure I understood a fairly complex set of options – no pressure.
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