Employer Sponsored Long Term Care Insurance is insurance provided as an employee benefit to cover the potentially catastrophic financial impact of an illness or period of frailty where long-term care is required. The market for long-term care insurance exploded during the 1990s and has continued to grow throughout the early portion of the twenty-first century. This market has two key segments: one for individual policies and the other for employer-sponsored and other group products. Sales of employer-sponsored long-term care policies generated premiums of nearly $55 million in the year 2001 (more…)

More people living to older age group means more people must stretch their retirement income to last longer (or delay retirement past age 65), keep their homes and assets protected longer, and make sure their health care coverage remains in force. If you retire at age 65 and live to age 100, you will be spending one third of your life without earned income. Longer life expectancy also means more admissions to nursing homes. Insurance plays a key part in addressing all of these concerns. (more…)

It is often suggested that everyone should buy long-term care insurance at the age of youth. This is because at that time, premiums are low compared to old age. The risk of having critical illness related to health and disability are greater as people growing old. (more…)

Some people over 60 decide to “self-insure” their lives by giving up their life insurance policy. But let’s assume that you still have life insurance. There are ways to use the money in these policies to pay for your long-term care insurance costs.

Check Out Your Cash Value

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At the end of 2006, the resident population of the United States was approximately 300 million. Roughly 250 million people had some form of health insurance. The operative word is roughly. People obtain health insurance from a variety of sources. Many of them have access to and sometimes coverage from more than one source. Moreover, they may not have coverage for the entire year, and there is no single repository of data on who has what sort of coverage over what period of time. Thus, a person living in a two-earner household may have coverage from both workers, from only one, or from nether. (more…)

Insurances’ Long Term Care Policy, is one of the ONLY ways any person can guarantee themselves, they won’t have to go to a nursing home unless that is their desire!

The insurance industry’s Long Term Care Policy (L.T.C. Policy), is a little sought after product since it’s inception in and about the mid fifties. (more…)

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…)

“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…)