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Planning for Your Long Term Care Needs

At this workshop, Stephen Morris of LPL Financial Insurance Associates will be answering common questions related to long term care including: “What is long term care,” “What are the chances of needing long term care,” “What is the cost of long term care” and “Is long term care insurance right for me.”

Long term care is the type of assistance you would need if you were unable to handle some of the basic activities of daily living or if you require substantial supervision due to a cognitive impairment. Two out of three people require long term care[1], and the average length of long term care claims is 3.8 years.[2]

Additionally, 40 percent of Americans who need long-term care are between the age of 18 and 64,[3] making it an important issue for all Orange County residents. Contrary to common misconceptions, the cost of long term care can be financially devastating as it is not covered by health insurance and is not covered by Medicare after 100 days.

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IWM Partners hosts educational events in its Orange County office every month in an effort to inform the community about important topics such as social security, life insurance, Medicare, estate planning, financial planning in general and much more regarding planning for retirement in Orange County.

 

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[1] U.S. Department of Health and Human Services National Clearinghouse for Long Term Care Information website, May 2010

 

[2] Genworth Financial Claims Data, December 2009

 

[3] Life and Health Insurance Foundation for Education, http://www.life-line.org 2010

The financial consultants at IWM Partners are registered representatives with and Securities and Advisory services offered through LPL Financial, a Registered Investment Advisor. Member FINRA/SIPC.

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