Our Clients

Our clients' biggest questions usually focus around retirement planning.

• “I’m looking to retire five years from now. How do I prepare for that?”
• “How do I not run out of money during my retirement years?”
• “I have children that I want to leave a legacy to. How do I do that?
• “Can I leave a tax-free donation to my favorite charity?”
• “What happens if I need long-term care?”
• “If I’m placed in a nursing home, will most of my retirement savings pay for those services?”
• “How does Medicare work and what does Medicare plans cover?”
• “I’m paying too much for my Medicare plan. Do I have cheaper options for the same plans?”

KRC Planning is qualified to answer these questions and provide some guidance to help you make an educated decision. Most of the time, you have many options to these questions – but the final decision is in your hands. Ken Calhoon and KRC Planning value you as a client and want to be that person you call when questions like above arise during a planned or unplanned situation.

If you already have purchased a life insurance plan, KRC Planning does recommend a policy review – especially if your policy is more than five years old. The insurance industry is making changes to their products to better fit today’s and tomorrow’s evolving world. Additionally, it is especially important to make sure your beneficiaries are up to date.

For example, “hybrid” life insurance policies are becoming more popular because they combine the benefits of life insurance and long-term care (LTCi) into one policy (instead of separate policies for both).

Another example involves the popularity of fixed indexed annuities (FIA). With unstable markets and potential talks of a recession, more clients are leveraging annuity benefits to protect against potential market downturns. An annuity is one of the only financial products that provides guaranteed lifetime income.

The hardest discussions revolve around possible long-term care needs and end of life situations as most families want to leave that legacy for a spouse, beneficiary, or even to charitable causes. What happens if your spouse dies first? What happens if one of you needs in-home healthcare or is placed into a nursing home? How can those medical costs affect your retirement savings? How can you plan for unforeseen medical expenses?

Long-Term Care (LTCi) Statistics:

• The U.S. Department of Health and Human Services reports that someone turning age 65 today has almost a 70% chance of needing some type of long-term care services and supports in their remaining years.
• Care does not come cheap: Long-term care costs range from $20,280 per year for adult day care to $108,408 per year for a private room in a nursing home. (Genworth Cost of Care Survey)
• Consumers need your help! 58% of people say they are somewhat or not at all knowledgeable about LTC insurance. (2022 Insurance Barometer Study, Life Happens and LIMRA)
• 20% of today's 65-year-olds will need long-term care for longer than five years. (U.S. Department of Health and Human Services)
• How much care will your client need? Women need care longer (3.7 years) than men (2.2 years). (U.S. Department of Health and Human Services)

KRC Planning has helped numerous spouses, children and other beneficiaries understand retirement products and what role they may play when these life-changing situations occur. We will walk you through each one, generate illustrations, and assist you with finding a product that fulfills these needs.