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Calculating LTC Costs - Genworth Cost of Care Map

Published on October 02, 2017

 

 

Use this tool to project long-term care expenses with your clients

The Genworth Cost of Care Study is one of the industry's most comprehensive cost evaluations of more than 43,000 long term care providers across 440 cities and regions. For over 14 years, the national study has played an effective role in helping financial professionals map out a plan for their clients long term care needs.

This new interactive cost of care map helps your clients prepare for their future when it comes to long-term care, based on the location and the type of service they are looking to receive.

This online map is a powerful planning tool that enables you and your clients to:

  • Calculate long-term care expenses where they plan to live.
  • Compare costs and view state rankings.
  • Project future costs of long-term care services.

Click here to access the cost of care map. 

 

MORE ADVISORS BLOG

 

Webinar Invitation: How to Position LTC as a Retirement Planning Tool

Join us for a special webinar featuring Mutual of Omaha discussing how agents can position LTC as a retirement planning tool. We will be going over today's LTC changing market with real world statistics, how to start the conversation, tax favorability and more. We'll also do a deep dive comparison on their MutualCare Solutions, so you can see why this should be a go-to product for your prospects!

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GBS News: WA State LTC Update | DI Sales Opportunities | Fixed Index Annuity | and more

The soon-to-be-enacted "Long Term Services and Trust Act" will impose a .58% annual tax on Washington state's workforce to fund one year of future LTC benefits (non-portable and only available if still living in WA). The only way to "opt-out" and avoid paying this tax is to show proof of existing coverage.

While the Trust Act could be beneficial for low-to-middle income earners, it negatively impacts those highly compensated individuals who will pay a much larger, disproportionate amount for the same, minimal benefit.

Read More >>

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