What are the pros and cons of long-term care insurance (LTCI)? How do the potential alternatives compare? Does your client have the right plan in place? Susan Hoover considers the options and what you and your clients need to know.
With baby boomers aging and average life expectancies rising, financial advisers need to address elder care in their conversations with clients.
Don't fret. This is not the "self-help" edition of weekend reads, even though the headline might lead you to think so. It just so happens that luck versus skill, work (and it's evil twin overwork), and investor happiness are topics tackled in three separate articles.
The number of people over 80 will double by 2050, from 3.9% of the population to 9.1% across OECD member countries, and from 4.7% to 11.3% across 27 EU members. It is estimated that up to half of this elderly population will need help coping with their daily needs; yet even today, governments are battling to deliver high-quality care to those with impaired physical and mental abilities.
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