Be cautious whenever an annuity is described as helping a person to qualify for Medicaid. Any deferred annuity purchased as a planning measure – that is, an annuity that will build in value and is purchased before a person goes into a nursing home – will be considered a countable asset. However there on particular North Read more
The North Carolina Long-Term Care Partnership Program (“LTCP”) was authorized in 2010 by the NC legislators. The LTCP encourages the purcahse of long-term care insurance and is aimed at middle and upper income individuals. Policy holders who purchase a qualified LTCP insurance policy, and then exhaust that coverage can access Medicaid without the usual spend-down Read more
Your retirement years depend on making good financial decisions in advance. This requires hard work, saving money, and sound investments. In your younger years, you focus on accumulating an estate. As you near retirement age still healthy and vigorous, you’ll need to shift your focus to balancing accumulation with preservation. Then if you have memory or mobility issues, or if you’ve had a stroke or have received a diagnosis of Alzheimer’s, Parkinson’s or another debilitating disease, your primary need will be to preserve your assets and leverage what you have for long-term care expenses.
Generally retirement investments will involve some financial products designs to give a better return than bank CDs, but without the risk of losing money if the stock market declines. Even for people comfortable investing directly in stocks or mutual funds, part of their financial plan often includes annuities and life insurance that provide long-term care benefits. While this site can’t give financial advice, you should learn your options to protect your retirement savings.