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Joseph E. Cordell

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Paying for Long-Term Care While Protecting Your Identity [Episode 161]

August 15, 2020 by Dan Pearce

Attorney-CPA Joe Cordell and co-host Jill Enders are joined by Chris Orestis, president of LifeCare Xchange and author of “Help on the Way” and “A Survival Guide to Aging”. They discuss ways seniors can both pay for long-term care and protect their bank accounts and identities from potential threats.

Chris breaks down how a long-term care life settlement can be a solution to long-term care expenses. He helps navigate the complications surrounding life insurance policies and offers tips on utilizing them to the benefit of seniors looking to pay for long-term care.

The group transitions to discussing identity theft. Chris highlights how the COVID-19 pandemic has made seniors more vulnerable to scams and cyber threats. They discuss what scammers may gain from knowing a senior’s social security number, as well as highlighting potential bank information scams.

Chris offers recommendations to children of seniors, in order to protect the senior from identity theft. He discusses the IRS impostor scam and how to protect those vulnerable, as well as the ins and outs of credit card fraud.

https://media.blubrry.com/lifes_third_act/media.blubrry.com/eldertalk/content.blubrry.com/eldertalk/Eldertalk-20200810-Air-Date-8-15-20-WEB.mp3

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Filed Under: ElderTalk, Podcasts Tagged With: elder financial abuse, elderly people, is this a scam, money scams, scam alert, scammer alert website, scammer list, senior citizen phone, unsafe phone numbers

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