There’s no doubt about it. Deciding if Long Term Care insurance if for you can be confusing. Here is an article that helps you get started.
You might think that having long lived ancestors means you won’t need long term care insurance. But think again!
There are several things to look for in a long term care insurance policy. You will be able to make a better buying decision by researching and deciding what benefits you want.
Everyone wants to know if they will actually use the long term care insurance they purchase. Some say, why pay so much money for LTCi, if I’m not going to use it. Others, reasonably, hope to never use it, but prefer paying 3-4 thousand a year for insurance over paying 3-5K a month to privately pay.
So, what is the likelihood that you’ll need long term care?
Here’s an interesting little tidbit:
Long term care insurance coverage simply MUST be considered by everybody who can medically qualify for this important coverage.
Why? For starters here are 10 good reasons:
When long term care insurance was first conceived and offered, back in the 1980’s, most LTCi premium rates were much lower than today’s policies. Why have they increased so much and why are long term care insurance companies raising premiums on existing policies?
Every insurance policy is a legal contract. Once agreed upon by both parties, a long term care insurance company must uphold their contract to the letter, or risk lawsuits and regulatory prosecution. Each policy is crafted with utmost care using the probabilities of actuaries, as well as contract lawyers’ keen legaleze, and here’s how to navigate the decision process.
Prominent long term care insurance carrier Penn Treaty recently announced they will discontinue offering the “unlimited lifetime” benefit option on all their current policy forms. Will other insurance companies follow suit? We think so, as the industry adjusts to changes in the all-too-real world of care and care giving.
“Leading Edge” – Part 3
This John Hancock product also offers an alternative to the costly “lifetime benefit” offered by most other companies. The new benefit is called “5 Years Plus $1 Million”, and it is designed to cover you if you need many years of care. Check all your options with your Buyer’s [...]
“Leading Edge” Part 2
John Hancock policy is the leading edge in [tag]long term care insurance[/tag] products. The new policy features built-in, compound inflation protection linked to the Consumer Price Index.
