To help financial advisors explain the value of long-term care insurance in the context of retirement planning, Wealth2k has produced a movie called “Why Long-Term Care Insurance is Needed.”
The compliant eight-minute movie explains that after age 65 approximately two-thirds of individuals will need some form of long-term care. These and other important facts are framed in the context of preserving investors’ retirement security.
“I hope that advisors will use this tool as a way to stimulate discussions with their clients on this crucial subject,” said Macchia in a release. “The movie will make it easier for advisors to broach the issue of planning for the costs of long-term care.”
Financial advisors can download the Wealth2k long-term care insurance movie here. There is no charge.
Wealth2k also announced the introduction of its the web-based LTC Impact Calculator, an interactive application that illustrates the impact LTC costs can have on an investor’s savings and retirement income.
The tool analyzes the financial impact of a nursing home stay based upon the assumed duration of the nursing home stay, the assumed rate-of-return earned on the retirement assets, and the assumed drawdown rate.
State-specific nursing home costs are utilized in the calculations. The LTC Impact Calculator is being added at no additional cost to Wealth2k’s advisor-personalized Retirement Time websites.
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