One commonly overlooked area a doctor’s personal planning is the possibility that you or a loved one
may need long-term care (LTC) as a result of age, illness, or accidents. In cases where such care is
required, the financial impact can be devastating.
For help in this area I turned to two experts. The first is Jonathan Smith, a medical specialist in San
Diego who knows what this type of care costs and who now provides education and coverage to
physician clients and their advisors. The insurance alone is reason enough, but some coverage options
have extra benefits and are also both creditor-protected by law and have a return of premium guarantee
if you never need it. Interestingly, many physicians often neglect this area of their own planning despite
their knowledge of the potentials costs and risks. Below are some of Dr. Smith's key caveats, tough to
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