BURLINGTON, Mass.--(BUSINESS WIRE)--Confronting the financial reality of long-term care may not be easy. But it’s essential for anyone who wishes to protect their retirement security. With the number of people turning age 65 slated to increase by 79% between now and 2030, financial advisors need to evaluate and manage a broad spectrum of risks that retirees face.
One aspect of retirement planning that often goes neglected is using insurance to hedge the costs of long-term care. According to Wealth2k Founder & CEO, David Macchia, “An investor’s retirement security can be quickly shattered by unexpected or unplanned for long-term care expenses. Considering the magnitude of the financial risk, there is an unambiguous need for advisors to provide better education on this issue.”
To help financial advisors explain the value of long-term care insurance in the context of retirement planning, Wealth2k has produced a movie called “Why Long-Term Care Insurance is Needed.” In a clear and compelling manner, the compliant*eight-minute movie explains that after age 65 approximately two-thirds of individuals will need some form of long-term care. These and other important facts are framed in the context of preserving investors’ retirement security.
“I hope that advisors will use this tool as a way to stimulate discussions with their clients on this crucial subject,” said Macchia. “The movie will make it easier for advisors to broach the issue of planning for the costs of long-term care.”
Financial advisors who wish to download the Wealth2k long-term care insurance movie may do so by visiting http://www.wealth2k.com/LTC_movie/. There is no charge for the download.
New LTC Impact Calculator
Wealth2k also announced the introduction of its the web-based LTC Impact Calculator, an interactive application that presents a powerful visual representation of the impact LTC costs have can have on an investor’s retirement nest egg, and retirement income. The tool analyzes the financial impact of a nursing home stay based upon the assumed duration of the nursing home stay, the assumed rate-of-return earned on the retirement assets, and the assumed drawdown rate. State-specific nursing home costs are utilized in the calculations. The LTC Impact Calculator is being added at no additional cost to Wealth2k’s advisor-personalized Retirement Time™ websites.
About Wealth2k®
Wealth2k, Inc. (www.wealth2k.com) is a developer of retirement-focused, asset-gathering platforms including The Income for Life Model®.
*A FINRA comment letter is available for review.