Extended Care Insurance
Extended care insurance can help you plan and control your future if you eventually need some sort of care to remain independent. You can be reassured knowing that long-term care insurance will help pay skyrocketing long-term care costs.
Having your own plans in place makes sense because Original Medicare does not pay for custodial care (non-health related care). You can get long-term care coverage as a standalone product. Or, as many people do, you can consider a “hybrid” — long-term care protection added onto another plan, such as life insurance or even an annuity. This helps add some cost efficiencies to your retirement planning.