Some of the leading long-term care insurance companies have recently announced that they will soon offer policies that have different rates for men and women. Gender-based pricing for insurance is not new. Most insurance policies have premiums that are based on...
Here are a few facts which may surprise you: Long-term care insurance is very flexible. Every long-term care policy gives you many choices for your benefits. You choose your: Daily Benefit, Inflation Benefit, Policy Limit, and Elimination Period. The richer the...
What is Long-Term Care? Long-term care includes a variety of services that may be both medically and/or non-medically necessary for people with a chronic illness or disability. Health and personal needs are met through long-term care. Generally speaking, long-term...
You’ve heard it a thousand times, “You snooze, you lose!” And to some degree, it’s true! Meaning, if you don’t rush out to the store, you’ll probably miss out on that great sale; hence, paying more for that item. But that’s okay, it’s happened to all of us. ...
In the old days, in order for the government pay for someone’s long-term care expenses, the person would have to spend down their assets to the “poverty level”–about $3,000 in most states.Since 2005, and the passage of the Deficit Reduction Act, most states are...
Conduct a simple Internet search on long-term-care insurance and the results are baffling. Add the words buy or quote, and it gets even more complex. For an insurance product that already has mystery surrounding it, the sheer amount of information yielded by an...
How sick is the long-term care insurance industry?The headlines are bleak:“What’s killing the long-term care insurance industry?”“Costs of Long-Term Care Rise While Payment Options Narrow”Contrary to what is often published on the internet, long-term care insurance...
Long-Term Care Facts Column: article originally published by the Redlands Daily Facts August 8, 2013:Long-term-care insurance is an emotional subject. I mean, really, who wants to talk about the possibility of needing help with bathing, dressing, and toileting?...
There are three issues concerning people who are considering long-term care insurance: The underwriting and approval process can be long and difficult Claims may not be paid in the future when care is needed, and Premiums might skyrocket forcing you to drop the...
Myth #1 Most long-term care insurance claims are for nursing home careWhen the long-term care insurance began in the mid-1960’s, most policies only covered the cost of nursing homes. It wasn’t until the early 1990’s that insurers began including riders that covered...
Long-Term Care Facts Column: article originally published by the Redlands Daily Facts May 9, 2013: In my last column, I addressed recent articles published on a several well-known news websites have been riddled with half-truths and misleading information. In an...
Long-Term Care Facts Column: article originally published by the Redlands Daily Facts February 21, 2013: My last column explained the government’s role in providing long-term care. As a general guideline, if your household income is less than $50,000 per year and your...
