Beneficiaries who postpone claiming Social Security past full retirement age have the option of receiving a lump-sum payment for up to six months of benefits when they finally apply.
According to this year’s Trustees report, Social Security recipients might face a benefit cut in 2034 unless Congress acts soon to strengthen the program.
Hybrid long-term care insurance policies, also known as asset-based plans, combine the benefit of a life insurance policy or an annuity with the availability of long-term care benefits.
