Why Retirement Plans Don’t Save You From Long Term Care
Many people believe that having a retirement plan in place will keep you financially afloat post-retirement. However, even with a substantial amount of money in a retirement account it is always better to have a long term care policy in place.
Having a long term care policy will not only protect you and your finances but also grant you and your family relief from the uncertainty of your future medical care.
You have a 70% of needing some type of long term care service at some point in your life, according to the United[…]
Don’t Get Stuck with Your Parents’ Junk
When parents pass away, there is usually only a small amount of time for you to go through their house and decide what you should keep and giveaway. If you don’t take care of it as soon as you can then you may end up stuck with a lot of junk that you don’t know what to do with.
As your parents get older, you and your family need to start thinking about what will happen to all of the stuff in their house. The truth of the matter is that no one wants to[…]
Should you buy Hybrid or Traditional Long Term Care Insurance?
The Go-Go 1990’s
The year was 1999 and like the dot-com era of companies such as Pets.com, things were sky high for the Long Term Care Insurance Industry and the financial industry in general. Banks and Insurance companies were flush with cash and interest rates were at a normal 5%-6% range for things like CD’s and the 10-year US Treasury. The fixed interest rate market was critical for for these Long Term Care Insurance companies offering the at the time rich benefits for the premium dollar.
Insurance companies are required by the State Insurance Commissioner’s office to put a large portion[…]
LTC coverage when you actually need it
The biggest concerns for people when considering whether or not to purchase LTC insurance are will they be able to afford it and will it provide enough coverage. But, due to the failure of two long-term care insurers, a whole new concern has been brought into the picture. Will the insurer still be in business when it comes time for you to make a claim?
Penn Treaty Network America Insurance, and its subsidiary, American Network Insurance were placed in liquidation in March. This Allentown, PA., based long-term care insurer leaves 76,000 policyholders uncertain if they will get the benefits they paid for. The two companies now[…]
Looking for Father’s Day Ideas?
Long-term care (LTC) is not something everyone is constantly thinking about as they get older. Many people do not begin thinking about it until they need it, and by then they end up having to pay for all of the services theirself.
These services include medical and non-medical care. The reason most people need long-term care is to assist them with support services for activities of daily living such as dressing, bathing, eating, and using the bathroom. You can receive the services at home, in assisted living facilities, or in nursing homes.
The cost of LTC is[…]
What is Your Plan for Long Term Care?
Many people believe they will never need long term care. Some may be right, but others are sadly mistaken. In fact, studies show that 70% of Americans who turn 65 will need long term care at some point. Especially if you are married, odds are, one of you is more than likely going to need long term care.
Long term care is not just limited to medical care. It also covers in-home care and nursing homes. In-home assisted living is when someone, a licensed nurse or someone else, helps you do basic everyday tasks, such as bathing, eating, getting dressed, using the toilet,[…]
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A side-by-side comparison of each company’s policy features. We cover the similarities and the differences.
Price comparisons customized to suit your specific needs from top carriers such as Nationwide, Thrivent, New York Life, National Guardian Life, Mutual of Omaha, and more.