Arthur Cohen, Founder of Arthur Cohen Insurance, Interviewed on the Influential Entrepreneurs Podcast Discussing Long-Term Care

Arthur Cohen discusses navigating long-term care options

Listen to the interview on the Business Innovators Radio Network: https://businessinnovatorsradio.com/interview-with-arthur-cohen-founder-of-arthur-cohen-insurance-discussing-long-term-care/

Long-term care, as discussed in the podcast episode, refers to the support services and care required by individuals who have an inability to perform activities of daily living without assistance. These activities include bathing, dressing, feeding, toileting, continence, and transferring. It is crucial to understand that long-term care is not just for temporary conditions like a broken arm or the flu; it is for situations that last over 90 days.

The episode highlighted that long-term care is often needed due to various reasons such as strokes, heart attacks, accidents, cognitive impairments, or frailty associated with aging. With a 70% likelihood that individuals will require some form of care in their lifetime, it becomes essential to plan for long-term care needs.

The financial implications of long-term care were emphasized, with the cost of care being significantly high. Medicare and traditional health insurance typically do not cover long-term care expenses, making long-term care insurance a valuable option to consider. The episode also discussed the importance of planning for long-term care early on, as the younger an individual is when they purchase a policy, the more affordable it is.

Furthermore, the conversation highlighted the importance of designing a long-term care policy tailored to individual needs. Factors such as inflation riders, lifetime benefits, family history of certain conditions, and the specific requirements of each individual should be considered when structuring a long-term care insurance plan.

Arthur reminds us that no plan for retirement is complete without a plan for long-term care. Bottom line is that the emotional and financial cost of long-term has the potential to wipe out someone’s life savings and force them to lose their independence. Our conversation about long-term care underscores the importance of preparation.

 

About Arthur Cohen

Old-school sensibility and service combined with up-to-date expertise.

Over 40 years in the insurance planning business. Creative and strategic ways of using his expertise as a valuable tool to protect families and businesses. Expertise in Long Term Care insurance, having brought it to the attention of the public almost since its inception. Longevity planning using the most appropriate annuity products for “safe money”. Board member of a nationally recognized neurocognitive research and care facility. Great reputation among his clients and peers for his dedication and devotion to his clients and the community.

Learn More: https://arthurcoheninsurance.com/

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