Long-term healthcare planning for wealthy families, whose assets may be locked in a business, should include the purchase of life insurance, to ensure access to cutting-edge or costly treatment, as well as paying for rehabilitation expenses. The report also recommends that governments consider providing tax incentives and subsidies to encourage people with high medical costs to seek out care outside their own country.
Long-term healthcare planning for wealthy families, whose assets may be locked in a business, should include the purchase of life insurance, to ensure access to cutting-edge or costly treatment, as well as paying for rehabilitation expenses. Daniel Geltrude, managing partner of Geltrude & Company and director of the firm’s Family Office Practice said: "There are ways a business owner can use traditional or private placement life insurance to pay for these health benefits".