Video Link: https://www.youtube.com/watch?v=i45db3gfHDY

The Senior Market Update (The Hybrid Product Series)
brokersalliance.com On Monday #39;s Show Steve and Joe discuss the facts, the probability stats and where it #39;s at with living benefits and standalone policies. Most people (75 percent) said they would use savings to pay for the otherwise uncovered expenses of long-term care. The challenge with this is that federal data shows the cost of long-term care can easily exceed $60000 a year mdash; an expense that would quickly drain the average US family #39;s savings of $120000. While some Americans have heard about long-term care insurance, it ranked seventh in a list of likely sources for funding the cost of long-term care. Survey respondents indicated a preference for flexibility as they planned for the future. Of the 39 percent who said that they felt confident about handling long-term care costs, the vast majority said they had increased their liquid assets mdash; by contributing more to savings, investments or traditional retirement savings. "The survey shows consumers are not aware of all of the funding options they have to pay for long-term care. Unfortunately, many do not realize that programs like Social Security simply will not cover all those costs," said Mark Konen, president, Insurance Retirement Solutions, Lincoln Financial Group. "Consumers seek more flexible solutions when planning for their futures," he said. "They are hesitant to risk spending their money for limited protection. They want long-term care if it becomes necessary, but they also want to protect their assets if it ...From:BrokersAllianceViews:2 0ratingsTime:15:10More inEducation

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The Senior Market Update (The Hybrid Product Series) - Video