Deadpool is a knowingly profane, fourth wall-breaking font of slapstick humor. Similar to Bugs Bunny and his use of hyper violence, the idea that he has any lessons to offer professional advisors is ludicrous on its face.
That being said, in the movies, Deadpool receives his regenerative abilities as a result of being forced to resort to allowing himself to be experimented on by shady doctors because he can’t afford to treat his cancer. Though the horrible experimentation and super-powers aren’t really relevant to most clients, the fear of being unable to pay for long-term care in the event of an unexpected illness certainly is.
Wealthmanagement.com’s Mark Miller notes that advisors face big challenges when it comes to insuring clients against the risk of nursing home expense. It’s not a popular topic of discussion—and the options for funding expensive institutional long-term care are not attractive.
Only the most affluent households can afford to pay out-of-pocket, and only 12 percent of people in their late 50s and early 60s have opted to buy commercial long-term care insurance, according to Rand Corporation research. Meanwhile, Medicaid covers 62 percent of long-term care in the United States, according to the Kaiser Family Foundation—and using the program comes with its own issues for household balance sheets.
Planners should know their options.