Long-term care planning is hard enough for families and individuals to talk about, much less execute. Then, what if the price you planned for skyrockets? Year to year, we have seen challenges surface in the long-term care industry and its service offerings, including numerous premium increases.
For instance, a 58% increase was recently approved for some Genworth Financial policyholders. Many factors contribute to the state–approved increase (albeit warranted), but what is unmistakable is the need for ongoing planning. Most financial decisions are not a “one and done” job. They require monitoring, evaluation, and tweaks when things change.
Unfortunately, many of life’s obstacles are outside of our control, so please recognize the importance of partnering with a professional to navigate life’s curveballs. Contact us so we can help you carry the burden of all the choices and changes.