No. of Recommendations: 3
KW: The best way I know of to protect mom's assets is Long Term Care insurance. You can analyze it a hundred ways, but the odds are > 50% that your mom will need some kind of care in the future, depending on her age now, health, etc. One large advantage of LTC ins. is that it almost always covers care in the home (nobody wants to go to a nursing home if they can avoid it). With a policy which includes a 5% compound inflation provision, there is every likelihood that, as, if and when your mom needs the benefits, they will cover almost every dollar of cost. Typically, depending on number of yrs. you've had the policy, age, and inflation clause, you'd find that even after paying premiums for many years, you would recover the premiums paid within the first 6-8 months of receiving benefits. If you assume that the person will need benefits for 2.9 years (average), you can see that the premiums are well worth it, especially since they appear to be affordable in your mom's case. Having worked in the LTC field for 5 yrs, and being a policy-holder myself, I cannot think of a better way to preserve assets, assure good care when you need it, and gain peace of mind (which has a huge value to older people). If you need more, just ask. Curt.
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