For the first time in history there are more Canadians over the age of 65 than under the age of 15. This is huge news when it comes to our health care system, long-term care services are NOT included in the Canadian health act so thinking that the government will take care of you in your old age just isn’t true.
There are ways to protect yourself and your parents. Long Term Care insurance is a great way to economically fund the potentially huge cost of long term care. It will pay a tax free monthly benefit for the rest of your life (once you can’t perform 2 of 6 of the “activities of daily living”). You can purchase a plan with benefit amounts from $1,000 to $8,000 depending your needs and budget. Find out what your options are so you don’t have to risk outliving your money.
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Image may be NSFW.Clik here to view.
