Why More and More Seniors are Unable to Afford Long Term Care Insurance
Long term Care Insurance has gotten much more expensive throughout the years. Fewer and fewer seniors are able to pay the amount needed to have good long term care insurance. According to Fortune, 55% of people over 50 years old decided not to purchase coverage due to its costly price. It has become a rarity for seniors to have it when they need. Only 1% of people over 75 years old buy LTC insurance. The average age of buying the insurance is 55 years old because if one waits until the are 75, the premiums are high AND most people by[…]
How to Talk to Millennials about Long Term Care
Millennials grew up with technology and were the creators of Google, Facebook, and Instagram. So what do these tech savvy consumers need to think about when it comes to Long Term Care Insurance? Millennials are a planning focused generation which makes them an excellent market for long term care. According to a recent study done by financial experts, 69 percent of millennials agreed that the burden of providing LTC for parents or grandparents will fall on them. This lead to 56 percent of millennials believing they personally will plan for LTC better than previous generations, mainly because they are more[…]
Is Alzheimer’s Type III Diabetes?
There was a recent article I read in the Express UK publication that mentioned there is growing evidence that dementia and Alzheimer’s could largely be caused by excess sugar consumption in a person’s diet. The article gives evidence that Alzheimer’s is just a continuation of diabetes, calling it Type III Diabetes.
Alzheimer’s and other forms of dementia are the leading cause of needing long term care services and having to use a long term care insurance policy if the person planned ahead and even had one. If this cutting edge theory is true, reducing the sugar consumption in our diets would be[…]
Is Long Term Care Insurance worth the cost?
A recent CNN/Money magazine article poses the question: “Is Long Term Care Insurance worth the price?” One could easily ask the question the other way around in order to explore and debate the the issues surrounding this important type of insurance. As the article points out, there have been some substantial rate hikes recently by a few of the major insurers. The cause? Well, put simply, people are living longer and thus filing more claims and using their Long Term Care Insurance benefits at a higher rate than the actuaries anticipated years back. While these rate and premium increases[…]
Smart Numbers-Crunching the numbers on Long Term Care Insurance
There are few of Americans out there with any kind of financial savviness that don’t have some kind of retirement plan, if not a whole portfolio of plans and resources for preparing for the twilight of your life. We pack money away in 401ks and other retirement plans, we invest and save, and we do everything we think we’re supposed to do to ensure that we can have a peaceful and financially-secure retirement. But, one piece of the puzzle that[…]
Categorical Thinking Devastates Your Future Long Term Care Planning
The sixth article in a series written by LTC Tree Advisor, Joe Houston, M.Ed., LPC, CRC Categorical thinking is the tendency to see the “general” rather than the “specific.” Rather than considering the details of a situation, these types of thinkers only get a superficial, general view. They solve a problem by summing up the situation with a simplistic generality, such as viewing the cause of America’s current unemployment problem as being caused by illegal immigration. While that may be a part of the problem, and should be considered in any programmatic solution to solve the problem, the categorical[…]
Reviews of each company’s financial stability ratings, claims experience, and size.
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.