Many seniors are counting on government programs to help with medical expenses in retirement. But these programs are in terrible financial shape. This makes the right insurance a vital part of your loved one’s financial plan.
But the insurance world can be extremely confusing without the right help.
In this episode, financial advisor Tena Burrell discusses why partial insurance coverage may be the right choice for you, how to get benefits from a long-term care policy that has been canceled, and how life insurance benefits can be used without dying.
Here Are The Show Highlights:
- How to get benefits from your loved one’s long term care policy even if they dropped it because it was unaffordable (3:56)
- Why your loved one cannot rely on Medicaid and how to properly prepare for unexpected medical expenses (11:39)
- The one document you must have to ensure your family member’s finances are secure (6:57)
- How putting a joint bank account can cost you everything you have (7:58)
- Why it’s in everyone’s best interest to track every penny of financial assistance you give a loved one (14:48)
For daily 5-minute mind exercises, head over and like my Facebook page: https://www.facebook.com/hcafortworth/