The chances are that without realizing it, you might in fact have already tapped into the long-term health care system, although not into a nursing home. We like to think of long-term care as the concern of senior citizens, but the term has a broader legal meaning. Long-term care involves becoming cognitively impaired, or the expectation that you will be unable to manage at least two of the six activities of daily living (more…)
A vital ingredient in any successful long-term care insurance plan is to have an affordable policy without sacrificing good coverage. If you receive quotes from several highly rated insurers and yet find that the premiums are still too much to bear, there is no need to panic and assume that long-term care insurance costs too much. You may be able to adjust the benefit amounts of the original quotes to bring the premiums more in line with your expectations;and ensure an affordable policy. One way to lower premium costs is to make sure you know what the actual costs of care are in your area. (more…)
Long term care insurance is an insurance product that sold in the United States and United Kingdom; it is designed to provide coverage for necessary medical or personal care outside the hospital or in a nursing home, or even at the insured’s home. In other word it is an insurance that pays benefits in the event of the insured suffers disabilities or chronic (lasting for a long time) illnesses. This policy also covers care not provided by health insurance, Medicare or Medicaid.
In some countries this kind of policy does not exist. If a patient who (more…)
The insurance industry has realized its time recognizing its potential customer’s awareness. One advertisement leaflet now focuses that the company’s goal is to “serve you-as the potential clients)-maintain your freedom.” Another provides “facts” that can help you better see the risks associated with long term care. It is what we can do in serving you maintain your personal and financial independence should you need long term care.” But often these (more…)
“We can’t afford that!”
“It’s too expensive!”
I hear it over and over again when discussing Long Term Care Insurance (LTCI) with folks. In fact some of my best clients had the exact same reaction when we first talked about LTCI. (more…)
This question is personal and it is different for everyone. Why? Because we all live different lifestyles and have different expectations of how we want our retirement to be. Just as people drive different cars and live in different houses, long term care insurance can fit it with just about everyone’s budget.
In the future, you or a loved one may need long-term care. It is impossible to predict the future. (more…)
Buying long term care insurance is bringing some though and education to put together. Choosing the right insurance for this purpose should not be taken lightly due to many factors involved. The idea of self funding long term care is not realistic for most people. With the average annual cost of nursing home care, assisted living and home health care rising, the cost of a few years of long-term care can wipe out nearly every American’s retirement savings or investment. Transferring the risk of nursing home or long term care costs to an insurance company maybe one of the most crucial financial decisions you make. (more…)