Long term care can be expensive. A retirement centre can cost between $5,000 to $7,000 per month. Extra support costs even more.

Home care that is 24*7 can cost $15,000 to $20,000 per month.

No one really thinks about or plans for these expenses.

The insurers have tried to market and service long term care insurance.

That did not work out for anyone. It is too difficult to reserve for these costs.

Now, the light bulb went off for the creative team at RCM Health Consultancy Inc.

We started to explore a 400 year old financial innovation called a tontine.

This is a group annuity that is peer to peer. No insurer is involved. The tontine also includes mortality credits.

As persons who invested in the tontine die, their money stays in the tontine and those surviving members of the tontine receive more and more money. They get increasing dividends over time.

In this way, those who survive have enough money to pay for long term care and give some to their grandchildren.

This 400 year old invention just might be the solution that we need to fund long term care.

Call RCM Health Consultancy Inc. to learn more.

647 350 5500. Ask for Alister.

Raymond Rupert patient advocate