94. How Long-Term Care Insurance Works: Costs, Coverage, and Options for Expats
About this episode
This episode discusses long term care insurance, its costs, coverage, and options specifically for expats.
Once you turn 65, you have roughly a 50/50 chance of needing extended care at some point. This episode breaks down what long term care insurance actually covers, what it costs, and how to structure it properly, especially for expats who may end up using benefits outside the US. This episode offers practical financial advice for expats and advice for immigrants trying to plan care decisions across two countries. Richard Taylor, Chartered Financial Planner and founder of Plan First Wealth, is joined by returning guest Mark Maurer, President and CEO of LLIS, to explain the IRS triggers that qualify someone for long term care benefits and why average claim durations (around 2.5 years for men, 3.5-4 years for women) are far shorter than the worst-case scenarios people fear. As a British expat who built his practice around expat retirement planning, Richard frames the whole conversation through the lens of clients living abroad. Richard and Mark walk through the three main ways to fund long term care: traditional standalone policies, permanent life insurance with a long term care rider and annuities with a long term care rider. They cover the real differences in premium structure…
More episodes of Expat Wealth - Cross-Border Financial Advice for Expats in America and Americans Abroad
- 95. Markets, Globalisation and Diversification: Are Investors Looking in the Wrong Place?
- 93. Plan First, Invest Second: How Globally Mobile Brits Actually Retire Well
- 92. PFICs, State Taxes and Costly Mistakes for Americans Moving to Britain
- 91. The Great IPO Boom: SpaceX, OpenAI and the Future of Investing
Explore listener stats, chart rankings, contacts and more on the Expat Wealth - Cross-Border Financial Advice for Expats in America and Americans Abroad podcast page.