The following client scenarios are not specific to actual events and are not indicative of all client experiences. These examples are used to illustrate how an advisor at Achieva Wealth Advisors can potentially assist Achieva members with a variety of investment-related needs. Your results may differ substantially. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
Gayle and her husband, Bill, made an appointment with their Achieva Wealth Advisor to talk about ways to plan for long term care. Gayle recently watched her sister lose her life’s savings after her husband succumbed to Alzheimer’s. It wasn’t until her brother-in-law got sick that they realized that qualifying for long-term care from Medicaid would require them to begin depleting their assets.
In case either Gayle or Bill face a long-term illness, they want to make sure they can afford to pay for the healthcare – and ensure the other person is protected as well.
Their investment advisor presented them with several long term care options, including a financial plan that combines life insurance with a long term care policy. In their situation, the combination plan works because if they don’t need the life insurance, their beneficiaries will benefit from it. The advisor also explained that long term care rates aren’t guaranteed, so the plan protected them in case rates rise sharply. Once that plan was finalized, both Gayle and Bill slept better, knowing that both of them should be taken care of in the event of a worst-case scenario.