Long Term Care Insurance: Who to Trust
January 9, 2007
A contract is a contract, and a long term care insurance company has the right and responsibility to follow it’s policy’s wording to the letter. Buyers BEWARE! Companies can “interpret” vague wording in their favor. So, it’s a very good idea to enlist the expertise of an insurance coverage contract lawyer in the very beginning, rather than waiting until being denied. Just know that lawyers are pricey, so be prepared to spend some extra cash for this last step.
Can Financial Planners Mis-Advise On Long Term Care Insurance?
November 7, 2006
Long Term Care insurance - Opinion vs. Opinion: Who has the FACTS? You be the judge.
Estate Planning: Make Sure Your Wishes are Honored
November 5, 2006
A medical power of attorney and living will are crucial estate planning steps, and like long term care insurance, must be set in place early in life for optimal protection.
ChoicePoint: To retire, start over or hang in there..?
October 17, 2006
Prior generations retired after working at one company for 25-30 years then retired. Retirees had a small house paid for, a nice Social Security check and a pension. Add to that a life expectancy of around 70 years, and you’ll have a perfect retirement plan.
Technorati Tags: generations, retired, retired, Retirees, Social Security, pension, life expectancy, retirement plan
Big Changes in Pension Plans, but Long Term Care Untouched
October 15, 2006
Technorati Tags: retirement, Pension, 401(k), defined benefit
Retirement Concerns Growing
September 21, 2006
Concerns are growing in both the UK and USA - how will we care for ourselves?
These articles highlight the savings concerns:
Brits’ concern over retirement savings
A newly launched Retirement Confidence Index has shown that as many as one in six Britons expect to
reach …
Article #1
Survey highlights retirement cash shortfall
Today’s pensioners are facing a far less comfortable retirement than those who retired a decade ago, a new survey shows.
Article #2
But with nearly half of us in line to need long term care in our lives, this may warrant even more serious attention. We recommend free comparative rate quotes from the Buyer’s Advocate.
Tips to ease financial discussion with aging parents
September 10, 2006
“Most adults are in denial about their parents’ mortality and avoid asking questions about estate transfer and wills. Oftentimes they do not want to appear greedy about their inheritance or controlling of their parents’ personal matters”, said Clayborne Cotton, founder of PrepSmart.com, “but you need to begin now, especially with long term care insurance quotes. [Read more]
Technorati Tags: inheritance
Long Term Care Insurance or Mutual Fund.. ?
September 2, 2006
“Would I be better be better off investing in a mutual fund each month, rather than paying long term care insurance premiums?”
Well, it really depends on the amount of your savings, your general health, your personal situation with regard to family and your tolerance for risk. [Read more]
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
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
