It took 11/2 years for Pres. Johnson to come up with Medicare, which covers 80% of medical expenses for seniors and the disabled. Obama wants a plan that covers every American on his desk within the next 6 months! It would take much less time if they weren’t trying to reinvent the wheel.

Obama promised health care reform that reduces cost of care, while ensuring all Americans have their choice of quality, affordable health care. He originally wanted a single-payer program, but special interest groups have joined with Republicans and some Democrats to block the way. Now Obama is settling for compromise, and the mantra is “everyone will get access to affordable, quality health care” – or rather, everyone who is employed will have the freedom to choose their health plan – between private insurance and public insurance.

There is also talk of a “public” long term care insurance program. Sounds good, eh?

Let’s take a brief peek at what those brilliant minds on Capitol Hill have come up with so far.

* The Senate has two committees working on a plan, and the House of Representatives has 3 committees working on an joint reform bill.

So far, the Senate’s “Health, Employment, Labor and Pensions (HELP) Committee has voted “yes” on one reform package. Here are the salient points:

Individual Mandate: All Americans would be required to buy health insurance.

Employer Mandate: Most employers will be required to provide employees with coverage (private or public).

A public health insurance plan will be created, and it will be be open to those who don’t have access to an employer-provided plan. There would be Basic and Premium levels, depending upon what you can afford to pay. Premium public insurance would pay for more than the Basic public insurance.

Those who are not employed or cannot afford to pay for insurance will be subsidized or be covered by an “expanded” Medicaid. This would be the basic care plan, of course.

* The second Senate health care bill created by the Finance Committee also has individual and employer mandates, but it will create medical co-ops.

* The House’s bill has mandated insurance, and like the HELP plan, it would have a public option for folks who don’t have employer-based insurance.
The issues:

1) The public health care insurance does not cover preventative care. This is a huge mistake, as preventative care is proven to delay or even eliminate the onset of many medical conditions- particularly the chronic, degenerative conditions such as adult onset diabetes and heart disease.

If we had a single-payer, Universal health care program, prevention would be a required component for keeping medical costs down, whilst keeping Americans healthier. Preventative care should be included in our health care, so that we can enjoy healthier, longer lives…but it is not.

2) No alternative health care available. These days, increasing numbers of Americans choose natural, holistic therapies over allopathic (AMA-type medicine) and pharmaceutical drugs. Are we to be forced to pay for insurance that doesn’t cover natural treatment modalities?

3) Why not a single-payer, Universal health care plan that would cover everyone equally? France has the #1 rated health care system in the world. The U.S. comes in at #37. Why are the lawmakers running in circles trying to please special interest groups, when they truly serve the entire population by simply expanding Medicare? A single-payer system would offer the same care for every legal U.S. resident. Plus, it would have to include preventative care in order to keep costs down, and insurance companies could still “get theirs” by offering supplemental insurance – like Medigap/Medicare supplement insurance. A Universal health care system is what we need, but that’s not what we’re getting.

Long Term Care:

As far as creating a public Long Term Care option, the current proposal has been found woefully wanting. I, personally, do not believe our government/tax-payers can afford to pay for a decent “public” long term care insurance plan. The only way to provide quality long term care to all Americans is to raise taxes and lump it in with a single-payer health insurance plan. Even that may incur problems due to the sheer size of the aging populace.

For now, long term care is an area where private insurance plays an immensely important role. It should be a cornerstone of responsible financial planning for those who can afford it. At the same time, Medicaid must be fully funded for those who do not have the means to buy insurance so that we can care for our poor, disabled and elderly in a dignified manner.

IMHO, the public long term care insurance being considered is no match for private LTC insurance. Only people who are too sick to qualify for private long term care insurance will find this option beneficial.

And therein lies the problem..

Why?

(More on the public long term care insurance plan and the answer to this question in a later post.)

This error misleads readers into massively underestimating actual, real-world, care costs.

For instance, see these top paragraphs from the article at http://www.onwallstreet.com/asset/article/617621/news/retirees-need-85k-healthcare-fidelity.html?pg=&topicName=news

——-

Retirees Need $85K for Healthcare: Fidelity
By Alexander Spanos

Retirees may need more money than previously expected in order to cover all their healthcare costs, according to a supplemental study released Thursday by Fidelity Investments.

For long-term care—such as extended stays in nursing homes— the study found that a 65-year-old couple would need to spend $85,000 on average. This $85,000 is in addition to the estimated $225,000 in savings retirees would also need for various healthcare needs, according to previous study Fidelity released in March.

“If you plan adequately and you have the ability to pay for assistance in whatever form that might be, it makes it easier on everybody if you can do that,” said Kathleen Kelly, executive director of the Family Caregiver Alliance.

This is the first year that Fidelity has conducted a study of this kind and the overall goal is to motivate people to start planning and thinking about their long-term care needs. It’s a subject that can make many people uncomfortable, especially with the threat of rising costs.

“A lot of people shy away from thinking about it,” said Joan Bloom, senior vice president for Fidelity’s life insurance group.

According to a federal estimate, the number of Americans using long-term care services, whether that may be at home, in assisted living, or a nursing home, is expected to increase from the 13 million in 2000 to approximately 27 million by 2050.

Acting sooner rather than later is also crucial, so Bloom recommends that people consider purchasing long-term care insurance while they are still in their 50s, since policies tend to cost more the later they are purchased in life…(more)

This full article can be viewed at:
http://www.mmexecutive.com/news/183178-1.html or at http://www.onwallstreet.com/asset/article/617621/news/retirees-need-85k-healthcare-fidelity.html?pg=&topicName=news

——–

PrepSmart.com suggests that you discuss your personal planning with the free advisory service of the Long Term Care Insurance Buyer’s Advocate Program by completing this simple request form.

Technorati Tags: long-term care insurance

But when to buy this insurance?

One strategy has been to wait until retirement, but that may be a bad plan, according to new research from the American Association for Long Term Care Insurance.

Looking at records of major insurance companies and 250,000 consumers, it’s been found that 22.9 percent of those age 60 to 69 get turned down for a policy.

This is often due to an inexperienced insurance agent who failed to proper field underwriting prior to submitting the application.

You’ll have a much better chance of success if you apply in your 50s, as only 14 percent are rejected. Of course, you’ll be paying for the policy for more years, but the premiums will be lower.

And you’ll be protected for longer.

Technorati Tags: Long term care insurance

“First of all, it is important to take your time and make the very best choice for you and your family,” says Darras, who has counseled clients on disability and long term care insurance issues for more than 20 years.

Most folks don’t start considering Long-Term Care until they are approaching age 60, but they don’t yet know that earlier may be better, because a key ingredient in the decision to purchase is your family’s health history.

“Many advisors who sell Long-Term Care coverage agree that people who have family health histories of cancer, heart attacks and a myriad of other deadly diseases, would be well advised to consider purchasing Long-Term Care at an earlier age. In these circumstances, age is far less a determinant than critical health issues,” says Darras.

Purchasing coverage to protect you when you get old is very personal. Yet 65% of nursing home residents are under age 65, and buyers should consider shopping earlier in life.  Plus earlier enrollment makes your premiums less expensive.

“Do plenty of research, pick your LTC carrier wisely,” says Darras. Use the free Buyer’s Advocate counseling service. “Understand as we age, our health history may prevent us from qualifying for Long-Term care, so consider your options early on.”

Darras advises that it is important to read and understand the language in your policy and know the definition of skilled care, intermediate care and custodial care. Your choice of policies should include those that pay for all three categories including care given… in the comfort of your own home….

“Your Long-Term Care decisions should prevent you from outliving your retirement nest egg and becoming a burden to those you love, no matter what your age.” says Darras.

According to HealthBlawg, they’re trying, but there’s one tiny problem – the Average Joe (and Josephine) can’t afford the high price of health insurance. What makes Senator Moore think that mandatory Long Term Care insurance will be any different?

It won’t be. Speaking as one of those millions of Americans who can no longer afford any insurance, I can guarantee you that mandatory LTCi will not work. It’s a pipe dream of state officials who see a massive wave of aging Baby Boomers coming their way. They’re concerned for their state coffers and they should be. However, you can’t get blood out of turnips, folks. So stop trying. You’re just freaking people out.

How can any state government think that every resident can afford pay for insurance? That’s insane. There are millions of Americans who make just enough to keep a roof over their heads, yet not enough to cover health care, let alone LTC insurance. There must be another answer.

I do have a few suggestions about what should be made mandatory:

1) Create a Trust similar to Social Security. It should be funded according to income levels, not age. Anyone below a certain income level would be exempt. Corporations should not be exempt, since legally they are considered “persons”. I bet Halliburton alone could fund a Long Term Care Trust with the profit it’s made so far off the Iraqi war. They over-charged the U.S. government for years, which came out of taxpayers pockets, so why shouldn’t they give the money back? Just a thought…

2) The entire amount of Long Term Care insurance premiums should be tax deductible. As it stands now, the amount of premium that can be claimed as a deduction depends upon a person’s age. Why? Make the entire yearly LTC insurance premium deductible, no matter if it’s tax-qualified or non-tax-qualified and no matter what age a person is, then private policies will be more affordable. Affordability means more people will own insurance coverage.

3) Make sure that our entire health care system puts an emphasis on preventative medicine, instead of simply treating symptoms and “managing” health issues, like adult diabetes, with prescription drugs. Protect our access to herbs, vitamins, etc. Make it mandatory that all insurance – public or private – pay for alternative and preventative therapies. This will keep our population healthier longer, therefore reducing the need for premature long term care.

4) Pass a federal law that makes it mandatory for all newly constructed buildings, as well as all buildings that are rented, to be fully wheelchair accessible. This includes wide hallways and doorways and truly accessible bathrooms. You say I’m going too far? I’m not. If, as I believe, Americans will soon need some form of public long term care funding, then it makes sense to make sure that long term care costs are minimized. Long Term Care facilities are very expensive. It’s sensible to have people “age in place”, yet retrofitting homes is costly and disruptive. Plus, you can only get financial assistance for retrofitting if you own a home. What about the millions of renters? It’s incredibly difficult to find houses or apartments that are accessible. As a country, we need to think ahead and build accordingly. Let’s make sure that home care is a viable option for as many people as possible. This will save our country billions of dollars in the long run.

See how simple? Now, if we just can get everyone to agree we’ll be on our way!

Technorati Tags: Long Term Care insurance, LTCi, Baby Boomers, Social Security, premiums, deduction, coverage, diabetes, prescription drugs, long term care, home care

Genworth Financial announced its plans to increase premiums on LTC insurance policies that were sold through 1997. The increases are anticipated to begin in late 2007 and are projected to be about 8-12% Of course, any increases will have to be filed in and approved by each state. Then the policy holders must be notified. All this could take 2-3 years.

Which policies will be affected? We’ll have to wait and see, but an educated guess would be that the policies with unlimited lifetime benefits will get the largest increase, as these policies represent
the most risk to any Long Term Care insurance carrier.

Background:

Genworth Financial offers many products, such as annuities and insurances of various kinds. Its Long Term Care insurance line went by the name of GE in the past. Genworth is such a trusted name in LTCi that AARP recently chose the company as its next provider to offer its new Long Term Care insurance products. MetLife will still handle the policies previously sold in conjunction with AARP.

So, Genworth Financial is not hurting, it’s growing. Considering it’s parent company is General Electric, there should be even less concern about it’s financial stability.

General Electric (GE) is one of the largest military contractors in the U.S.. It also builds nuclear power plants and manufactures everything from toasters to misslie propulsion systems. Plus, it owns NBC, Telemundo, Bravo, CNBC, and part of msnbc.com.

GE receives millions of dollars each year from the federal government (actually, from our tax dollars) and makes God knows how much money through it’s various ventures, so its a good company for Genworth to have as a “parent”.

Even so, Genworth Financial is planning to raise its premium rates. The long time policy holders, many of whom may be quite elderly and on fixed incomes by now, will have to come up with extra money, reduce their benefits or let go of their policy altogether…just when they’ll need long term care protection the most.

Sadly, once again, it looks as if the bottom line and loyalty to stockholders may win out over the “common folk” – in this case, the policy holder. Of course, a corporation’s prime directive is to make money for its stockholders. Still, it would be nice if large corporations and their stockholders would put our country’s vulnerable senior citizens ahead of company profit margins.

What to Watch For:
In the long run, Genworth’s rate increases may tempt more LTCi carriers to follow suit. Fortunately, many Long Term Care insurance companies have never raised their rates and do not plan to do so. Let’s hope that these companies continue in their integrity – considering their policy holders first and foremost.

Technorati Tags: Genworth Financial, premiums, policies, Long Term Care insurance, annuities, Genworth

Conseco hired a great ad agency. I loved their long term care insurance commercials. They were so funny! Yet every time I watched them, I couldn’t help but cringe. My concern was that people would buy a Conseco policy, then perhaps someday their rates would go up, or worse yet, their claims might get denied. Clay and I knew that, as far back as the 1990’s, Conseco was selling relatively inexpensive policies to lots of unhealthy people. Now, approving “sickies” for long term care insurance seems compassionate, doesn’t it? Of course it does. I sure wish companies would approve more, but that’s not how insurance works. Companies with smart actuaries know that insurance can only work when there are more “low risk” policies sold, than there are “high risk” sold. That way, more money is coming in than going out. More premium payments, less benefit pay-outs. That’s how the “pool” of money held by insurance companies stays strong.

When the high risk/low risk ratio is reversed, the money pool is in danger of drying up. That was the problem we saw, way back when. Clay never sold Conseco. He was advised not to by his mentor, but he did sell a few Penn Treaty policies to people who, due to health concerns, would not have been approved by other companies.

Penn Treaty had decent policies, yet Clay always told his clients that there was a good chance their premiums would go up in the future, due to Penn Treaty’s high risk/low risk ratio and lower premium prices. Still, given the choice between having no LTC insurance at all and the possibility, no matter how great, of rate raises most people chose the insurance. Would Clay have made the same choice if he had the chance of being insured. You better believe it… He would buy a Penn Treaty policy today if they would take him.

Even so, I think it’s high time the long term care insurance industry got a good once over. Rate raising and refusing to pay-out, if only from a few companies, damages the entire industry, not to mention consumers’ well being. If you diligently pay your premiums, year after year, and you have a legitimate claim, you should expect the LTCi carrier to pay-out, as per your contract. Paper shuffling and other foot dragging techniques being used by a few insurers are shameful.

Why has Congress waited so long to look into this situation? Was the Insurance lobby too strong for the last Congress? It may be political “low-hanging fruit” to rail against the Evil Insurance companies during these pre-election days, but I’m glad that Obama and Hillary have the moxy to do so. The states haven’t been doing a great job regulating, so maybe this will get their tails in gear.

One last thing: 81 year old Mary Rose Derks has gotten a lot of press. She’s been in a nursing home since 2002 and her long term care has cost her $70,000 or so. Articles and news shows site her case, claiming that Conseco has not paid her claim. I’d like to know where her LTCi agent has been all this time. Isn’t he helping her, fighting for her?

It’s easy to get alarmed. Yet we don’t know what Mary’s policy’s contract wording was, so we don’t know if Conseco is in the right or if Mary Rose Derks has a valid claim. There could be legal wording in the policy itself that allows Conseco to not accept her claim. Conseco might have found that Mary didn’t disclose all of her health conditions when she applied, therefore, nullifying her contract. Or not. Maybe Conseco is simply trying to save a buck at the expense of a fragile, little old lady. We don’t know. We only hear the plaintive cries of her family so eagerly repeated through the Media.

But I bet Conseco wishes they had spent less on advertising and more toward paying their claims now!

And let’s remember: Long Term Care Insurance companies pay out Billions of dollars in claims. Most LTCi companies should be applauded for helping Americans during times of great stress and need.

We shall see what these inquiries reveal….

Technorati Tags: Conseco, long term care insurance, premium, Penn Treaty, LTC, Obama, Hillary, nursing home, long term care

I was recently asked that very same question. Since I haven’t been able to get my hands on a policy or even an Outline of Coverage, I went to the Genworth website to look at their consumer marketing brochure. The wording is a bit vague, but there are some points that stood out to me.

Please keep in mind that I’m NOT a licensed Long Term Care insurance agent. You’ll want to get professional advice before making any LTCi decisions. As the wife of a retired LTCi broker, I suppose I’m as good as any non-LTCi professional would be at deciphering a marketing consumer brochure. So here goes…

After reading the Cornerstone Advantage consumer brochure that is in PDF form on Genworth’s website, here are my understandings:

It seems that the main difference between Long Term Care insurance (LTCi) policies that have been sold in the recent past and the Cornerstone Advantage is that the Advantage only covers 80% of costs. It’s like health insurance. Not only will you have the typical “deductible”, or elimination period, as it’s called in LTCi policies, but you will also have a co-pay of 20% of your care costs. You can choose a high daily benefit, but Genworth will still only pay 80% of the daily long term care costs. That means, if your home or nursing home care costs are, say, $3000 per month, you will need to come up with $600 per month.

Next difference? The Genworth Cornerstone Advantage doesn’t cover rent or room and board costs if you are in an assisted living facility. Now that’s a big deal. Room and board can be the most expensive part of assisted living facility’s monthly bill, depending upon how much care you need. Clay and I looked into a lovely assisted living facility in Washington state. They wanted $3000 per month for room and board – not including any actual care services like assistance with showering, transferring, eating or toileting. Each service was charged for separately and tacked onto the room and board costs.

I’m assuming that the Cornerstone Advantage LTCi product would cover most, if not all, types of needed services, however, I cannot be sure about which services are covered without seeing the actual policy wording.

It does cover Home Care. What part of or what kind of home care is covered I don’t know, as the Genworth website did not elaborate on the subject.

The last big difference: From what I read, the Cornerstone Advantage does not seem to provide benefits by the month. It looks as if you choose how much Genworth will pay out in total. The wording on Genworth’s consumer brochure says this: “The whole idea behind Cornerstone Advantage is affordability. You choose the daily benefit you want. You also select the total amount of protection you want in dollars – from $100,000 up to $1 million.”

This means, like all insurance, that you’d better plan for the absolute worst scenario. Otherwise, you may end up paying all your long term care costs out-of-pocket when you’ve used up your “total amount” and your coverage ends. This feature may be a nightmare in the making for those who do not calculate future care expenses correctly. And who can really know their future care needs?

The plan includes Care Coordinators, but does not require that they be used. Who knows? One might need care coordinators in order to figure out just what services Cornerstone Advantage covers, when or where they will be covered, and what won’t be covered at all.

So, from what I could read and understand, Genworth’s new product seems to eliminate some pretty important benefits in order to cut their premium price. Is there anything they are giving you to make up for it? Well, yes.

From what I can gather, Return of Premium is built into the product, and is automatic in the event of your death.* Return of Premium is usually provided as an “add-on” rider that increases premiums, but it looks like Genworth’s new product provides it as a “freebie”. Again, the wording of the consumer brochure was pretty vague, so check this out with your LTCi broker to make sure of what it means for you.

There are many folks who want to get their LTCi premium costs back if they don’t use any benefits of their policy. Some folks may not be able to afford to pay for a Return of Premium rider as well as the immensely important inflation protection rider, so this is a nice feature of the Cornerstone Advantage.

Cornerstone Advantage also offers a 35% couple’s discount if you and your partner apply for or own Genworth’s long term care insurance policies. Apparently, this applies even if one of your applications is declined. Ask your LTCi specialist if the term “partner” applies to your living situation. If you don’t already have a trusted broker, you can get your questions answered by your Long Term Care insurance Buyer’s Advocate.

The Shared Benefit looks as if it is available as a rider, and is available to couples who buy identical polices.

Although the Genworth website did not specifically state this, I’m assuming that their inflation protection options are available as a rider, too.

Is Genworth’s new LTCi product right for you? That will have to be decided by you and your LTCi broker. If I were considering this Cornerstone Advantage as a choice, I’d keep these points in mind.

1) Will I have enough income or savings to cover the one time deductible AND the monthly co-pays?

2) Since this product does not pay for all assisted living rent or room and board costs, would I be able to pay for those high monthly bills? Or instead, do I have friends and/or relatives who will be willing to help me stay in my own home, with help of Home Care services?

3) Considering long term care costs are currently rising more than 6% per year, am I willing to take the chance that I will be able to figure out my daily benefit and total amount of protection amounts ahead of time (and just hope I don’t need more)?

4) Am I young enough to even apply? It appears that Cornerstone Advantage isn’t available to purchase for those 75 years of age or older. Seems most LTCi companies are encouraging folks to get LTCi at younger ages these days.

As with any LTCi policy, make sure that you completely understand all “gatekeepers” that may be in any policy you choose. A gatekeeper is any wording that may affect your benefit pay-outs, such as the number of Activities of Daily Living you need to have assistance with before your policy kicks in. There could be many gatekeepers in LTCi policies, if they are trying ot keep the policies’ premiums down.

Of course, only your actual policy contains the exact terms and conditions of coverage, so read it very carefully.

*Features, benefits, riders and discounts may vary; and certain conditions and restrictions may apply.

Currently, Genworth Cornerstone Advantage is not available in all states. According to Genworth’s website, it should be available in 20 states now and in all states by early in the 4th quarter of this year.

For caring, professional Long Term Care insurance service, contact your Buyer’s Advocate now.

Technorati Tags: Long Term Care insurance, LTCi, nursing home, assisted living, benefits, expenses, inflation

But one thing we can all agree on is that elder care is becoming a big problem. As our health care improves, we live longer. The longer we live, the more apt we are to need long term care.

Elder Law Prof Blog has taken the time to aggregate articles from the U.S., Canada, the UK, and Japan, to name a few and I commend him for that. However, the writer of the blog, I think his name is Ed, doesn’t seem to have the most positive opinion about long term care insurance. He listed a Oct. 20, 2006 New York Times article as “The truth about long term care insurance”. The word “truth” is his opinion.

Now, while the New York Times article itself makes some valid points, I’d like to clarify the below 3 points.

1) LTCi companies wouldn’t be able to make their pay-outs due to increasing claims.

This shouldn’t be a problem, as insurers must have insurance themselves. By law, they must meet their obligations, one way or another. Either they sell out their block of business to a more profitable and stable insurance company OR the insurer’s insurance must kick in to cover the costs of benefit pay-outs.

The long term care insurance companies that charged minimum policy premium amounts and have opted to not “sell out” have drastically increased their premiums, both on new policies and existing policy holders. This is not good news for the folks who bought inexpensive policies and are now seeing their rates increase, but it does mean that the LTCi companies have seen looming problems and have acted to remedy those problems.

2) Insurers have denied claims due to the policy holder not fully disclosing pre-existing medical conditions at the time of application.

I’m sorry, but that is a problem caused by the consumer, not the insurer. If you think you can hide any pre-existing medical conditions, think again. You will be caught sooner or later, either by an underwriter or by the claims department. Don’t think that if the LTCi company doesn’t ask to see your doctor’s records, that you can get away with having a pre-existing condition. If your LTC insurance agent is not making sure that you have disclosed every medical problem that may influence your LTCi eligibility, then that agent is not doing his or her job properly.

3) Some long term care insurance policies require you to document your state of health when you file your claim and thereafter.

Now this could be a problem! Once it has been deemed that you need long term care and you start receiving your LTCi benefits, you should not have to continue to send in statements from doctors or facility administrators. Your health may not allow you to either do that personally or ensure that it is done by someone else. So, make sure that the policy you buy has the least amount of documentation requirements possible during your benefit period.

Get personalized long term care decision assistance from your LTCi Buyer’s Advocate today.

Technorati Tags: long term care insurance, premiums, policies, LTCi, long term care

This guy is great. I love a person who knows their limitations. Check out the Free Money Finance article.

Then read the Comments below the article. One person says that it is important to stop smoking before you apply for long term care insurance. She said that smoker’s premium costs can be prohibitive. That may be true, depending upon your budget and the insurance company you are considering. Obesity can also make your premiums higher. So, if you want to keep your premium costs down, it is a good idea to quit smoking and lose those extra pounds ASAP if you are thinking of purchasing long term care insurance.

I’m just guessing that the next Comment was written by a person who is a financial planner trained to invest money instead of asset protection. He says that LTCi is meant for the middle class only. While I agree that the middle class has the most to lose and those with less money couldn’t afford the premiums, it is ludicrous to think that the wealthy wouldn’t also benefit from long term care insurance. Even if you invest you will not make enough profit pay for years worth of long term care – unless you invest millions! Why wouldn’t a wealthy person pay a mere $5000 per year for a LTCi policy, when it could save them over $100,000 (or much more) per year if they need care?

People of wealth are usually pretty smart when it comes to spending money. Saving a few dollars now by not getting insurance could cost you and your family hundreds of thousands of dollars in the future. My husband, Clay, was both an LTCi broker and a stock broker. He did the math for several clients who asked whether it was better to buy long term care insurance or invest the same amount of money in the booming stock market of the late 1990’s. Every time, when factoring in the probability that they could need long term care, he found that it would be better for them to protect their assets with long term care insurance rather than to invest the same amount of money.

So, all you with money to burn – buy your long term care insurance policy, then invest to your heart’s content.

Technorati Tags: long term care insurance, premium, financial planner, invest, asset protection, LTCi, wealth, long term care, policy