Asset-based long-term care insurance is something Bruce Hosler and the team at Hosler Wealth Management work on frequently for our clients. Traditional long-term care will require you to pay a premium until you go on claim, and rates can often change. However, asset-based long-term care premiums are paid with assets; therefore, they can't raise the premium or modify your terms. 

For a married couple age 65, there is a 70 percent chance at least one of them will need long-term care. Rather than bet against those odds, this allows you to share some of that risk with an insurance provider. 

Bruce explains how to choose the right coverage and avoid being "insurance rich and cash poor," how much these policies can cost, and at what age you should begin exploring coverage. We also cover the misnomer that Medicare pays for long-term care; it does, but only in certain circumstances. 

Bruce and Jon cover timeframes around application for coverage and processing of claims, how the claims payout, and what, if any, are the tax implications. 

For more information about anything related to your finances, contact Bruce Hosler and the team at Hosler Wealth Management: Visit them online at https://www.hoslerwm.com/

Or call them in their Prescott office at (928) 778-7666 or their Scottsdale office at (480) 994-7342.

For more podcast episodes, visit our podcast website at https://hoslerwm.com/protectingwealthpodcast/

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