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3 smart long-term care insurance moves to make in your 70s

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Long-term care insurance may still be a viable option in your 70s. 

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Long-term care insurance can offer valuable financial support by helping pay for nursing homes, assisted living facilities and in-home caretakers. But if you’re shopping for long-term care insurance in your 70s, you’ve likely faced some hurdles. After all, with rejection rates around 50% for 70 to 74 year old applicants, it can be difficult to find a policy that gives you affordable peace of mind – but it’s not impossible. 

The good news is that you likely have multiple options to choose from, even in your 70s. However, it’s imperative that you choose the best policy for your needs. And, there are a few smart moves you can make to ensure that you do. 

Compare long-term care insurance policies now and lock in your coverage today

3 smart long-term care insurance moves to make in your 70s

“When you enter your 70s, you may have had a health event or witnessed a friend or sibling with a health event,” explains Rhonda Bills, CLTC, and trainer for Certification for Long-Term Care, a training company that offers long-term care insurance agent certifications. “One of my clients’ first questions to me is, ‘Did we wait too long?’ The response is always NO.” 

Here are a few moves you can make to find the best policy for your needs: 

Make a plan

The first thing you should do as you look for long-term care coverage in your 70s is make a plan. Do you know how to access care when the need arises? Do you plan on leaning on your family members? Would you rather age at home or does the constant professional health assistance that comes with a nursing home or assisted living community sound more fitting?

These are important questions to think about because the cost of long-term care varies depending on the type of care you receive. Moreover, some policies will only cover formal long-term care options while others will make it possible to pay informal caregivers like your family members and friends. 

You should also take this time to think about how much insurance you need. Chances are that you have retirement income. But how much of that income can you allocate to your care – and how much of a financial gap does long-term care insurance need to fill? The answers to these questions will help you find the type and amount of coverage you need. 

Chat with a long-term care insurance expert now if you need help making your plan

Shop around

Long-term care insurance options, limitations and premiums often vary from one provider to the next. So, it’s important to shop around. That’s especially true when you’re in your 70s as potential rejection and high prices are valid concerns. But, comparing multiple policies may bring quality coverage options at affordable prices to light.

“If you’re age 70 and shopping for long-term care, you should consider the difference in cost between insurance companies,” explains Justin Stivers, financial advisor and founding attorney at Stivers Law, a law firm specializing in estate planning. “This is even true for policies with similar coverage. By shopping around, you can compare costs and identify policies that offer the best value.” 

It’s also important to note that different policies may come with different coverage options and features. “Shopping around for long-term care insurance can also allow you to explore policy features and select a plan that aligns with your needs and preferences,” says Stivers. “Some policies may offer more comprehensive coverage for home care services and alternative care.”

And shopping around could help you find better policy customization opportunities, “such as inflation protection riders, shared care benefits and non-forfeiture options,” says Stivers. 

Get started

“A barrier for this age group is acceptance since the rejection rate by 70 years old is about 50%,” Afik Gal, co-founder and president of the financial planning and insurance firm, Assured Allies, told CBS News Wednesday. And that “barrier” only grows as you age. Not only will prices rise, but the coverage you do get offered may not be as comprehensive as it could have been if you had applied at an earlier point. So, it’s important to start now to give yourself the best chance of finding an effective policy at a reasonable price. 

The bottom line

Shopping for long-term care insurance in your 70s can be challenging. But, it may still be possible to find affordable coverage that meets your needs. Before you shop, think about what your needs are and create a long-term care plan. Then shop around to find a policy that fits within your plan. And, perhaps most importantly, you should start your search for coverage now as it may not be available or affordable later. Get in touch with a long-term care insurance specialist today to discuss your options



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Robert Towne, legendary Hollywood screenwriter of “Chinatown,” dies at 89

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Robert Towne, the Oscar-winning screenplay writer of “Shampoo,” “The Last Detail” and other acclaimed films whose work on “Chinatown” became a model of the art form and helped define the jaded allure of his native Los Angeles, has died. He was 89.

Towne “passed away peacefully surrounded by his loving family” Monday at his home in Los Angeles, his publicist Carri McClure, told CBS News in a statement. She did not provide a cause of death.

In an industry which gave birth to rueful jokes about the writer’s status, Towne for a time held prestige comparable to the actors and directors he worked with. Through his friendships with two of the biggest stars of the 1960s and ’70s, Warren Beatty and Jack Nicholson, he wrote or co-wrote some of the signature films of an era when artists held an unusual level of creative control. The rare “auteur” among screen writers, Towne managed to bring a highly personal and influential vision of Los Angeles onto the screen.

Writer Robert Towne
Writer Robert Towne in audience during the 36th AFI Life Achievement Award tribute to Warren Beatty held at the Kodak Theatre on June 12, 2008 in Hollywood, California. 

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“It’s a city that’s so illusory,” Towne told The Associated Press in a 2006 interview. “It’s the westernmost west of America. It’s a sort of place of last resort. It’s a place where, in a word, people go to make their dreams come true. And they’re forever disappointed.”

Recognizable around Hollywood for his high forehead and full beard, Towne won an Academy Award for “Chinatown” and was nominated three other times, for “The Last Detail,” “Shampoo” and “Greystoke.” In 1997, he received a lifetime achievement award from the Writers Guild of America.

“His life, like the characters he created, was incisive, iconoclastic and entirely (original),” said “Shampoo” actor Lee Grant on X.

Towne was born Robert Bertram Schwartz in Los Angeles and moved to San Pedro after his father’s business, a dress shop, closed down because of the Great Depression. His father changed the family name to Towne.

Towne’s success came after a long stretch of working in television, including “The Man from U.N.C.L.E” and “The Lloyd Bridges Show,” and on low-budget movies for “B” producer Roger Corman. In a classic show business story, he owed his breakthrough in part to his psychiatrist, through whom he met Beatty, a fellow patient. As Beatty worked on “Bonnie and Clyde,” he brought in Towne for revisions of the Robert Benton-David Newman script and had him on the set while the movie was filmed in Texas.

Towne’s contributions were uncredited for “Bonnie and Clyde,” the landmark crime film released in 1967, and for years he was a favorite ghost writer. He helped out on “The Godfather,” “The Parallax View” and “Heaven Can Wait” among others and referred to himself as a “relief pitcher who could come in for an inning, not pitch the whole game.” But Towne was credited by name for Nicholson’s macho “The Last Detail” and Beatty’s sex comedy “Shampoo” and was immortalized by “Chinatown,” the 1974 thriller set during the Great Depression.

“Chinatown” was directed by Roman Polanski and starred Nicholson as J.J. “Jake” Gittes, a private detective asked to follow the husband of Evelyn Mulwray (played by Faye Dunaway). The husband is chief engineer of the Los Angeles Department of Water and Power and Gittes finds himself caught in a chaotic spiral of corruption and violence, embodied by Evelyn’s ruthless father, Noah Cross (John Huston).

Influenced by the fiction of Raymond Chandler, Towne resurrected the menace and mood of a classic Los Angeles film noir, but cast Gittes’ labyrinthine odyssey across a grander and more insidious portrait of Southern California. Clues accumulate into a timeless detective tale, and lead helplessly to tragedy, summed up by one of the most repeated lines in movie history, words of grim fatalism a devastated Gittes receives from his partner Lawrence Walsh (Joe Mantell): “Forget it, Jake, it’s Chinatown.”

The back story of “Chinatown” has itself become a kind of detective story, explored in producer Robert Evans’ memoir, “The Kid Stays in the Picture”; in Peter Biskind’s “East Riders, Raging Bulls,” a history of 1960s-1970s Hollywood, and in Sam Wasson’s “The Big Goodbye,” dedicated entirely to “Chinatown.” In “The Big Goodbye,” published in 2020, Wasson alleged that Towne was helped extensively by a ghost writer — former college roommate Edward Taylor. According to “The Big Goodbye,” for which Towne declined to be interviewed, Taylor did not ask for credit on the film because his “friendship with Robert” mattered more.

The studios assumed more power after the mid-1970s and Towne’s standing declined. His own efforts at directing, including “Personal Best” and “Tequila Sunrise,” had mixed results. “The Two Jakes,” the long-awaited sequel to “Chinatown,” was a commercial and critical disappointment when released in 1990 and led to a temporary estrangement between Towne and Nicholson.

Around the same time, he agreed to work on a movie far removed from the art-house aspirations of the ’70s, the Don Simpson-Jerry Bruckheimer production “Days of Thunder,” starring Tom Cruise as a race car driver and Robert Duvall as his crew chief. The 1990 movie was famously over budget and mostly panned, although its admirers include Quentin Tarantino and countless racing fans. And Towne’s script popularized an expression used by Duvall after Cruise complains another car slammed him: “He didn’t slam into you, he didn’t bump you, he didn’t nudge you. He rubbed you.

“And rubbin,′ son, is racin.'”

Towne later worked with Cruise on “The Firm” and the first two “Mission: Impossible” movies. His most recent film was “Ask the Dust,” a Los Angeles story he wrote and directed that came out in 2006. Towne was married twice, the second time to Luisa Gaule, and had two children. His brother, Roger Towne, also wrote screenplays, his credits include “The Natural.”



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Analyzing impact of Supreme Court’s Trump immunity decision

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It’s been a day since the Supreme Court ruled that former President Donald Trump has immunity from criminal prosecution for official acts taken in office but that he is not protected from prosecution for unofficial acts. CBS News legal analyst Jessica Levinson joins to unpack the decision.

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