New Wave of Age 65+ Adults Will Soon Be Needing Solutions for Long-Term Care

A large influx of adults will soon be over the age of 65 and in need of long-term care. This comes at a time when inflation is on the rise. As inflation rises, the cost of long-term care rises which can have a devastating, financial impact on families and their loved ones.

The growing need and rising costs in long-term care are going to require affordable solutions. CNBC news reporter Sharon Epperson suggests, “more variation on the types of products that are being offered” are needed and not “just stand-alone long-term care policies, but those that are combined with life insurance policies offering a death benefit, offering cash value that allows you to build up some investments to then use for long term care.”

As part of Epperson’s report, she interviews Tom Beaureguard who tells his own story of trying to care for his father while at the same time meeting the needs of his wife and children. Learning from his experience, Beaureguard founded a company to help middle class families know their options when it comes to planning and preparing for long-term care. View the entire interview on CNBC.

Source: CNBC Squawk Box; Sharon Epperson News Report (AUG 30 2022) “Inflation Drives Up the Cost of Long-Term Care”  
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