Long-Term Care Facts Column: article originally published by the Redlands Daily Facts February 7, 2013: Last week I discussed the need for long-term care planning and the role that long-term care insurance can play. Surprisingly, many people still believe that...
Each day visitors to this website request information about long-term care insurance. Some of our visitors already own long-term care insurance and they have a question about their current policy. Other visitors inquire about how to purchase a policy for...
What is long-term care insurance and why do you need it? A simple Google Internet search yields a definition for insurance as, “a practice by which a company provides a guarantee of compensation for a specific loss.” Therefore, long-term care insurance is...
There are 10 tax-friendly ways to pay long-term care insurance premiums. Depending on your situation, you could save hundreds (possibly thousands) of dollars in income taxes over several years by applying just one of these methods. Caveat: LTCFacts.org is not a tax...
I was reading an online “newspaper” the other day. There was an article about long-term care insurance and the importance of planning for the financial consequences of needing long term care. Sometimes the comments at the end of the article more interesting than the...
How does the Inflation Benefit impact the Daily Benefit of your long-term care insurance policy? The Daily Benefit is the single most important part of your long-term care policy. The Daily Benefit, however, is linked to the Inflation Benefit. How much your...
Can a long-term care insurance policy pay a relative to care for you? It depends upon the policy. Most long-term care policies are “reimbursement” policies. A “reimbursement” policy will only pay benefits after you’ve received care from a “qualified care provider.”...
It depends upon the type of the policy you buy. There are two types of long-term care policies that can never have a rate increase: Single-pay long-term care policies and Limited pay long-term care policies with corresponding rate guarantees. Single-pay long-term care...
Can my long-term care policy be cancelled when I reach a certain age? Can my long-term care policy be cancelled because my health changes? Can my long-term care policy be cancelled if I make too many claims? Can my long-term care policy be cancelled if the insurance...
N-O-T-H-I-N-G. I know that’s not what the newspapers say. I know that’s not what the headlines on the “news websites” say. But fear sells newspapers and fear increases hits on their websites. Fear (and lies) zoom through cyberspace faster than the truth does. The...
