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Long-term care's 'brutal math' threatens retirees. Secure 2.0 can help
['Chuck Greenblott', 'Mha', 'Crpc', 'Cltc', 'Is Founder Of Power Financial. He Is The Author Of Six Books On Long Term Care Planning', 'Several Published...', 'Chief Correspondent']
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When it comes to long-term care, the math is brutal.
Yet only 3% of Americans over the age of 50 hold private LTC insurance, estimates LIMRA, an insurance trade association and research group.
In a couple where both are aged 55, the average annual premium for a long-term care policy is about $2,080, according to the National Council on Aging.
Illustrate the premium differential between purchasing long-term care insurance now versus later.
When a health care crisis strikes, wealth is often depleted, financial plans crumble, families are disrupted and control is lost.