A long-term care plan for clients who have failed to plan

By Chris Orestis

Most people believe they will never need longterm care. Or if they do, they believe they’ll
be able to cover the expense. So what can be done if you did not plan for the possibility, and you or your loved one is confronted with an unexpected need
for long-term care?

Fortunately, solutions are available to help those who failed to plan. A fast-growing area of long-term care planning is “crisis management.”

Strategies are available for financial and legal advisors to help families pay for the costs of longterm care. Among them: settling life insurance policy death benefits into a structured vehicle that will pay for the costs of senior retirement living and long-term care.

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