A survey of families with children with special needs found that a large majority (82%) of caregivers are concerned that they do not have enough financial resources to last their disabled relative’s entire lifetime. Just as alarming, because of the time and cost required for caring for those with special needs, 30% of caregivers are not saving at all for their own retirement.
A survey of families with special needs children found that 30% of caregivers are not saving at all for their own retirement. Caregivers are concerned about their own financial future and how their caregiving responsibilities may adversely impact their retirement.
A survey of families with children with special needs found that a large majority (82%) of caregivers are concerned that they do not have enough financial resources to last their disabled relative's entire lifetime. Just as alarming, because of the time and cost required for caring for those with special needs, 30% of caregivers are not saving at all for their own retirement.
In addition to protecting your dependents from financial hardship, life insurance policies are shielded from taxation under most circumstances. A death benefit is considered to be the reimbursement for a loss, not income. That means when a beneficiary receives an insurance payout, the proceeds normally don’t need to be reported for tax purposes.
Kane Brolin has been blind since birth and is very proud that he’s a financial advisor with his own firm. And he feels strongly that disabled individuals should be given a chance to succeed and prosper in whatever career they choose—including the financial services industry.
Having a child with autism adds a layer of costs for parents planning for their own retirement. On average, a person older than 18 who has a disorder on the autism spectrum will face annual related costs that are greater than $50,000, even without a debilitating intellectual disability.
The cost of raising any child is steep, but for a child with special needs, it's astronomical. It can cost more than $250,000 to raise a child (not including college), but the cost can be more than twice that for a child with disabilities—and much more if lifetime care is needed, says Adam Beck.
Increasingly, technology companies are entering the world of healthcare, offering mainly small to midsize employers software-as-a-service (SaaS) HR tools -- sometimes for free -- that allow companies to manage their health insurance needs. But with so many tech companies taking the place of community-based brokers, how do HR managers and their employers know which option is best for them?
After much speculation, it's official: The U.S. Department of Justice announced last Thursday that it is suing to block health insurer Anthem's proposed $48 billion acquisition of Cigna and Aetna's proposed $34 billion acquisition of Humana.
The financial services profession needs to do a better job recruiting people with disabilities, according to some members of a panel of experts assembled by The American College of Financial Services to mark the 26th anniversary of the Americans with Disabilities Act (ADA).