Episode 6: Podcast with Dan Madsen of Northwestern Mutual on Long Term Care

Join us for an enlightening Episode 6 of the Live for Today, Plan for Tomorrow Podcast, hosted by Gabe Bodner. This episode features Dan Madsen, a Wealth Management Advisor from Northwestern Mutual Life Insurance Company, as we explore the crucial topic of long-term care. Dan brings his expertise to discuss what long-term care entails, whether it's care at home, in residential facilities, or nursing homes, and why understanding this is vital for your financial health and retirement planning.
Topics covered include:
Understanding Long-Term Care: What it means to have care provided for chronic illnesses across various settings.
The Necessity of Long-Term Care: Discussing statistics on how frequently long-term care is needed as we age, particularly the differences in necessity between men and women due to longevity.
The Costs of Care: A deep dive into the varying costs of long-term care across the country and how these expenses evolve as one ages.
Financing Long-Term Care: Exploring government programs like Medicaid and other means of funding such as personal savings or insurance.
Alternative Funding Options: Discussing the merits and details of self-funding versus insurance and the role of reverse mortgages in covering long-term care costs.
Insurance Options: Differentiating between straight long-term care insurance and hybrid policies that combine life insurance with long-term care benefits.
Connect with our guest Dan Madsen at: www.northweste...
For more information, reach out to us: 720-600-4870
Hashtags: #WealthManagement #FinancialPlanning #RetirementPlanning #LifeInsurance #NorthwesternMutual #InvestmentStrategies #GabeBodner
Disclaimer: The information is intended for informational purposes only and is not guaranteed or endorsed by the company, nor is it an offer of credit. Consult your professional mortgage advisor before acting upon any information in this video.