Dr. Sabrina Scott reviews the benefits of new hybrid long-term care insurance policies versus the traditional ones that used to be the only game in town.
DECATUR, GA, July 9, 2019: Dr. Sabrina Scott, co-founder of Red Feather Financial, has posted a new blog on the firm’s website entitled “From Traditional To Hybrid Long-Term Care Solutions.” Dr. Scott clearly prefers giving her clients options which traditional long-term care policies don’t offer.
Dr. Scott writes, “Out with the old, in with the new!” She adds, “I know it isn’t New Year’s but it’s time to discuss a new way to plan for long-term care. And it’s definitely out with the old way.” As Dr. Scott points out, “I mean, paying an insurance premium for decades, on a policy that if you end up not using it you lose every penny you paid into it just doesn’t make sense.”
“And to make matters worse,” says Dr. Scott, “if you decide you want a traditional long-term care policy and you’re 65 or older, you have to be in tip-top shape to even qualify. And chances of actually getting the benefits when you need them are pretty slim with all the rules surrounding these old-style policies.”
According to Dr. Scott, “Today there are some newly developed hybrid or linked-benefit policies to explore as options. One solution that’s growing increasingly popular is a form of life insurance that includes tax-qualified long-term care riders. With these policies, the owner is able to access the majority of the death benefit if long-term care services are needed. And, in the event long-term care services are not needed or if all of the death benefit is not used up to pay for long-term care expenditures, the remaining death benefit is paid out to the beneficiaries upon the death of the policy owner.”
The entire blog can be read at http://redfeatherfinancial.com/from-traditional-to-hybrid-long-term-care-solutions/
About Dr. Sabrina Scott
Sabrina Scott learned about Veterans Benefits and Medicaid when her parents sought legal services for long-term care. Confident she could find ways to preserve her family’s resources and still get access to Government Assistance, Sabrina felt there should be more options than relying on welfare. As a result, Dr. Scott became an investment advisor representative who can make recommendations regarding securities and became licensed in insurance as well. She co-founded Red Feather Financial with Victoria Collier to help those who want to have a plan in place in order not to outlive their resources and who do not want to be a burden to their children.
About Victoria Collier
Victoria L. Collier, CELA founded The Estate & Asset Protection Law Firm to serve the legal needs of retiring individuals. Victoria is also Co-Founder of Red Feather Financial. At both firms WE BELIEVE that people should not have to lose everything they’ve worked a lifetime to earn and that every person is an individual who deserves respect and the highest quality of life possible, regardless of age or ability. We also believe that privacy and protection are the keys to personal peace. Victoria was appointed by Governor Perdue to the Georgia Council on Aging, 2010 – 2016 and was awarded Dekalb County Veteran of the Year, 2013. She is the author of 47 Secret Veterans Benefits for Seniors; Paying for Long Term Care – Financial Help for Wartime Veterans: The VA Aid & Attendance Benefit.
About Red Feather Financial
Red Feather Financial is an independent financial advisory firm born with a singular mission: to financially empower our clients and protect their financial future. Most people come to see us because they are worried about having enough money for retirement and long-term care costs. We help by showing our clients how they can leverage their assets in the most tax-efficient and cost-effective ways.