In a long term care insurance (LTCI) policy, take note that the elimination period is often called as the policy deductuble. In many ways it is similar to the deductible which is used in major medical insurance policies. One significant difference is this: rather than one certain dollar amount in which you will initially pay [...]
Private insurance companies usually sells LTCI policies to offset the costs of long term care. LTCI, like all insurance policies, requires premiums to help recipients avoid paying large amounts of money in the event of an illness or an accident. Premiums are based on the individual’s age at the time of purchase and are usually [...]
On Monday, the New York Times ran a very good story about Medicare Advantage Plans. Medicare Advantage Plans are a type of health plan sold by private insurance companies. The plans are associated with Medicare. It seems that seniors across the country have been fooled into signing away their Medicare benefits by enrolling in a [...]
Long term care insurance is a very good financial protection option for anyone who has enough assets to protect and can comfortably afford the premiums. It can help ensure that all of the effort and time you have spent on acquiring a sufficient retirement income is not lost due to the rising costs of long-term [...]
Recently, I wrote about selecting a daily benefit for your long term care insurance (LTCI) policy. Making sure that you start your policy with a daily benefit amount that matches the current cost of continuous care is vitally important. But there are a couple of additional steps you’ll need to take if you want to [...]
The New York Times have just published an article entitled, ” Caring for the Caregivers ” and while I read the piece, I shook my head a few times thinking about the implications of the article and what I know from my perspective in the eldercare industry. One of the first things I learned in [...]
Planning for long term care is complicated. Each person’s needs are unique, therefore, the cost of long-term care varies greatly. Some social and physical assistance is available for free or at a low cost, while very expensive nursing home or home health facilities can have an expense of $200 per day or maybe even more. [...]
Everyone knows thay paying for insurance premiums is one thing we don’t like doing and long term care insurance is no exception. The ony why we pay these premiums is because the alternative leaves our retirement income and investment assets exposed to high risk if long-term care becomes necessary and we have to pay for [...]
