Doling Out the Estate: It’s a Family Affair..
July 31, 2006
So… The first wave of baby boomers hit 60 in 2006. With th future of Social Security and Medicare in question, adult children and aging parents are taking stock of how long term care might affect their retirement security.
Technorati Tags: baby boomers, Social Security, Medicare, long term care, retirement
More Long Term Care Choices Forced by Uncle Sam..
July 30, 2006
Woah, Nellie! As millions of folks recover from the challenging choices among prescription drug plans, Uncle Sam is now forcing another health care decision. And this one’s a whopper, says Clayborne Cotton of the online LTCi Buyer’s Advocate Alliance.
Heads Up, Ladies! Why Women Bear Far Greater Risks and Costs of Long Term Care..
July 28, 2006
Today’s Facts:
1. Women Face Over a 60% Greater Chance of Entering a Nursing Home than Men.
2. In 7 of 10 Instances in America, Women are the Care Providers in Unpaid Long Term Care Situations.
Technorati Tags: Nursing Home, Long Term Care
How to Simplify Long Term Care Insurance Choices and Cut Through the Mind-Boggling Complexity..
July 28, 2006
Decision paralysis, pure and simple. That’s why many Americans fail to buy long term care insurance, and boy are they ever sorry. These are the conclusions of a study commissioned by the AARP Public Policy Institute.
Technorati Tags: long term care, insurance
Long Term Care Insurance: Don’t Choose Rashly..
July 28, 2006
The choice to purchase long-term care insurance is a very important choice and one that can’t be made in a hurry.
Technorati Tags: long-term care insurance
It’s Risky Trying to Out-Invest Long Term Care Insurance Premiums..
July 27, 2006
“As we see it, it’s far better to lock in a fixed, long-term care coverage expense at an early age, rather than to try to out-invest and gamble that policy benefits won’t be needed until you get older,” says Clayborne Cotton, founder of the online LTCi Buyer’s Advocate Alliance.
A 56-year-old purchasing a $150 daily benefit lasting 3 years would pay $1,659 a year, according to the 2006 LTC Insurance Price Index, released this in early 2006 by the American Association for LTCi in Westlake Village, Calif.
If we assume a 7 percent annual return and constant premiums, someone investing that money could likely accumulate nearly $23,000 before taxes by delaying purchase of LTC insurance by ten years.
But wait! There are several reasons for avoiding delayed purchases.
Firstly, a policy purchased at age 65 entry rates will nearly double the premium expenses from age 55 entry level premiums.
If care is needed, you can never out-invest the benefit of having insurance protection.
From a financial planning viewpoint, LTC insurance is “the moat that protects the castle”. It’s a prudent decision to spend about 1% of a one’s portfolio to protect the other 99% of what you’ve built.
Out-investing for LTC is a fanciful and truly tragic idea, because you might not be insurable in 10 years, and entry rates go up so radically by age.
The question is, “Are you ready now to request your FREE rate quote comparison?”
Technorati Tags: long-term care, coverage, policy, benefits, benefit, LTC, Insurance, LTCi, premiums, investing, money, taxes, insurance, premium, invest, benefit, insurance, protection, financial planning, portfolio, investing, insurable
Long Term Care Insurance: It’s Not Just for Nursing Homes Anymore..
July 23, 2006
If you still think that long-term care is just about nursing homes, quiet solitude and the gentle passage of time, you couldn’t be more misinformed. Long-term care today includes a range of services that help keep people independent by providing everyday tasks, like showering or dressing. [Read more]
Tick Tock Goes the Biological Clock
July 19, 2006
Long term care insurance differs from other insurance when it comes to underwriting, ie. deciding who the company will or will not insure due to health issues. [Read more]
Quality Long Term Care Ensured by Ombudsmen..
July 19, 2006
The Long Term Care Ombudsman Program is a program that helps ensure quality care for residents of skilled nursing and assisted-living facilities. And who else fills these shoes? No one…
New Medicaid Health-care ‘Penalties’..
July 14, 2006
Hearing Focuses on New Rules
HAGERSTOWN - At a recent hearing on Medicaid changes, a 67-year-old Boonsboro man said he had heard that new rules would penalize older Americans who give away some of their wealth before requiring medical care. So he is now thinking about researching long term care insurance to protect his assets and to “keep control of the nest egg”.
[Read more]
