Today we are living longer and generational families no longer live together to help care for each other so the likelihood of needing outside help due to sudden injury, illness, and gradual physical or cognitive decline is very real.
Mountain View, CA (PRWEB) June 21, 2010
Stanford Investment Group, Inc. an independent investment advisor and broker-dealer, in conjunction with Peter Gaudio of JK Insurance Inc. presented a Webinar on UNDERSTANDING LONG-TERM CARE.
As part of Stanford Investment Group Inc.’s continuing series to provide its clients and centers of influence with educational tools, Talia Pierluissi, a Wealth Advisor, CFP®, CDFA™ at the firm moderated a discussion on Long-Term Care, presented by Peter Gaudio of JK Insurance, Inc. Peter is a Chartered Financial Consultant (CHFC), a licensed Securities Principal. He holds an MBA and has over thirty years experience in the financial services industry. He is a frequent lecturer on insurance, estate planning and financial planning topics.
Peter’s presentation included: an overview on Long-Term Care; reasons we need to plan for it; care options and costs; types of Long-Term Care coverage; evaluating the options; examples and additional optional features.
Peter started the discussion by defining what Long-Term Care is, “It is help required for Activities of Daily Living (ADL). Today we are living longer and generational families no longer live together to help care for each other so the likelihood of needing outside help due to sudden injury, illness, and gradual physical or cognitive decline is very real. Long-Term Care is intended to maintain the patient rather than cure the condition. Long-Term Care affects a large segment of the population as 40% of those currently receiving Long-Term Care services are adults 18 to 64 years old, and 70% of adults over age 65 eventually require some form of care.”
It is impossible to know, if, when or how long a Long-Term Care event may be. At a minimum it is best to assume three to six years. Planning for Long-Term Care protection is a personal decision, however, covering the cost of care is often easier to deal with when one is in their peak earning years, rather than waiting until retirement. The costs of care vary by state and region.
Peter discussed the various types of Long-Term Care coverage and provided an analysis of the advantages and disadvantages of each option in comparison to self-insurance. He also pointed out benefits available for Long-Term Care policies for businesses and individuals.
In summary, Gaudio summarized, “Long-Term Care is potentially a long, complex and expensive process with a high probability of occurrence. The services and products available to meet these needs have evolved and are supported by government legislation through favorable tax treatment of benefits and certain tax deductions. The potential solutions to Long-Term Care problems are found in a variety of products which can be combined to maximize benefits.”
At the conclusion of the presentation Talia Pierluissi, moderated a question and answer session with Peter Gaudio and the webinar participants.
For more information, and to view the Long-Tern Care Webinar please check our website http://www.stanfordinvestment.com under News & Resources, Webinars.
Additionally, Peter Gaudio’s contact is: Petergaudio(at)jkinsurance(dot)com and (408) 246-2701
Stanford Investment Group, Inc., located in California's Silicon Valley, has 27 years of experience guiding clients through many economic cycles and market changes.
Stanford Investment Group, an SEC Registered Investment Advisor and FINRA member Broker/Dealer is not affiliated with Stanford University.
Any views, opinions and/or material stated are solely those of Peter Gaudio. (CA Insurance No. 0534641) Statements represented in this material are expectations or beliefs of future events and involve known or unknown uncertainties and risks which could cause actual results, performance and events to differ materially from those expressed or implied in this material. Investing involves risk. Past performance does not guarantee future results. Investment returns and principal value of an investment will fluctuate and are subject to change based on financial market, economic and legislative conditions.
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