Long-Term Care insurance is not just for the elderly or “nursing” home insurance. Thirty years ago things were different and long-term care insurance was purchased as nursing home insurance. Today, more benefits are paid to clients who are still living and functioning in their own homes. A recent study by the American association for Long-Term [...]
“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. The fact is most people can afford LTCI. What they can’t afford is the [...]
It would be considered very unwise by today’s societal standards for an older senior citizen to risk their personal wealth or life savings without some type of insurance. Now many people do not have significant amounts of money or savings so this might not be an issue, but considering the cost of medical and hospital [...]
There are various reasons for acquiring term life insurance. Here are the most common reasons why people are interested in getting this type of temporary insurance. Protection Of Dependents The protection of the children and spouse of the insured is one of the reasons why people get this type of insurance. In the event of [...]
Every long term care policy comes with different coverage, conditions, and costs. Most times it can become difficult to determine which ones would be the best for you. What should you be looking for in a long term care policy to guarantee that you can make the most suitable choice when buying these very important [...]
The advancement in science and technology has seen an increase in the life span of people. People tend to live longer compared to yesteryear’s and studies show that more than 5 million people needs long term care in their life time. Long term care insurance is not chosen by people since it is expensive. But [...]
The gateway to community care services is a care assessment and access to this for claimants is vital. The government has introduced a single assessment procedure (SAP) for older people which combines the assessment for local authority social services with health needs guidance. When the care assessment has been completed, the local authority will decide [...]
For a long time, many individuals believed that long term care solely meant nursing home care. Now, long term care has a broader meaning. It refers to a range of supportive medical, personal and social services for individuals who are not able to provide for their personal needs for a lengthy time period. This call-for-care [...]
Q: Some of the long term care insurance policies I am researching allow for an indemnity benefit. Can you explain what that means and what advantages it may provide? The Problem – Reimbursement Only Policies Most long term care insurance policies are designed as reimbursement only. With a reimbursement only policy, upon submitting all of [...]
If you are like most individuals, you’ve looked forward to the freedom of your retirement. You’ve set the financial groundwork and have focused on building assets to maintain your standard of living during those years or to share with your heirs. Unfortunately, even the best-laid retirement plans can be derailed when unforeseen circumstances require a [...]