Insurance can be one of your greatest costs, so it pays to evaluate it annually. But you’ll definitely want to ensure that policy terms and regulations, as well as your own needs, haven’t changed. Are you on the best plans possible at the least possible insurance cost? Be sure that each insurance company you use still is highly rated. Are beneficiaries correct? (more…)

Unlike most acute health care insurance, almost all long-term care insurance is sold on an individual rather than on a group basis. Moreover, those insured must pay all the premiums themselves. By contrast, most acute care group insurance is employment based and largely paid by the employer. Only about 10 percent of the elderly, however, are still working, and only a minority have any employer-sponsored health benefits. (more…)

Insurance is simply a means of protecting yourself against a possible loss, so that you will be compensated for any item that you have insured. Some people don’t like the idea of taking out insurance, because it is not something that you see an immediate benefit from, and in most cases, you will never see any benefit from it. (more…)