Romeo Raabe
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How Prenups Fail When Long Term Care Is Needed

May 21, 2013

More second marriages (65% to 70%) than first marriages (60%) end up in divorce.  This is very important for financial advisors to consider when helping married couples plan.  Often two families blended together may have very different expectations for their money when one partner dies.  But do you consider the impact if one of the…

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Mom Is Entering A Nursing Facility, Can We Still Get Her Some LTC Insurance?

May 20, 2013

It is often a very sudden thing when we realize a loved one needs care in a long term care (LTC)  facility.  Sometimes it is within hours of a hospital discharge, other times we may have a day or two of advance notice.  This can be a very tough thing to do if there has…

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LTC Costs Are Going Up At An Accelerating Pace

May 16, 2013

A recent Wall Street Journal article was titled “As America Ages, Shortage Of Help Hits Nursing Homes”. With 10,000 Americans turning 65 every day for the next 19 years, where will our caregivers be found? The number of Americans 65 and older is projected to reach 73 million in 2030, up from 40 million in…

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LTC Insurance – It’s All About Access

Apr 24, 2013

As the baby boomers age and advance towards retirement, how they plan financially for the future is rapidly changing. One of the larger changes taking place is an increasing need for long-term care insurance (LTCI) and decisions about how it will be best positioned. Historically, LTCI has been thought of as an instrument to protect…

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Women Will Pay More – Much More!

Mar 25, 2013

80% of the people in nursing facilities are female. Women often take care of their husbands, and then nobody is left to care for them, thus they end up in facilities. With women being the main users of LTC facilities, the LTC insurance companies are going to gender specific rates this year. Who do you…

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Alzheimer’s in Now the 6th Leading Cause of Death in America

Mar 20, 2013

Per the Alzheimer’s Association, Alzheimer’s Disease is the 6th leading cause of death in America. The rate of deaths due to Alzheimers rose 68% between 2000 and 2010. This is due in large part to longevity increases and better diagnosis. One in three seniors now dies while suffering from Alzheimers or another form of dementia.…

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HELP! The premium just increased for my LTC insurance

Mar 13, 2013

Have you recently received a letter announcing a price increase on your LTC insurance? It probably offered to mitigate that price increase if you would just lower the daily (or monthly) amount the policy pays when you need care. Or perhaps it offered another option of lowering the rate at which your policy keeps up…

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What is your retirement plan missing?

Mar 13, 2013

“The second most important financial priority, especially among older respondents, is saving money to pay health-care costs” from a recent article. This is not surprising, considering that 70% of those surveyed said they expect their medical expenses to increase during retirement. A smaller but not insignificant number of respondents listed a related concern – long…

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Irrevocable Burial Trusts for Family Members Not a Divestment Court Rules

Jan 31, 2013

In a Fond Du Lac courtroom on January 18th, 2013 the court ruled that a person funding irrevocable burial trusts for children and spouses of children is not a divestment for Medicaid purposes. For years insurance agents have used irrevocable burial trusts instead of final expense life insurance policies as the trusts are outside the…

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The Long Term Care Guy