I completely agree with the authors opinion on long term care policies. After doing significant research for myself I determined that the monthly and up front lump sum long term care policies were not for me. There are simply too many variables out of your control that can cause your premiums to skyrocket leaving you holding the bag. Alternatively, a government insured reverse mortgage, known commonly as a HECM, will provide a growing credit line that will provide eligible borrowers a much more cost effective and flexible means of providing a financial backstop in the event care is needed. The reverse mortgage program is much safer today than it was prior to 20013. The smart people will learn how to augment a reverse mortgage into their retirement plan early on in the planning process.
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