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Why You May Not Be Able to Buy Long Term Care Insurance

By |February 13, 2015|Categories: Advice, Breaking News, Buying Tips|Tags: , , , , |

It was Spring of 1999 and I was a rookie Long Term Care Insurance agent for one of the major companies.  We worked for an aggressive agency here in Atlanta that really pushed hard to get marginal cases approved.  That Spring, I along with my class of agents were of course hungry for a sale as I’d spent the first six months working for free, called the “pre-agent” process. This was essentially a time period where that you were not paid unless you made a sale and would weed out the non-serious agents.  I really needed to get my[…]

Sales of Hybrid Long Term Care Insurance Policies Hit Record High

By |June 4, 2014|Categories: Breaking News, Buying Tips, Insurance Industry, Retirement Planning|Tags: , , |

More Americans are turning towards hybrid Long Term Care Insurance solutions to help them plan for long term care, according to a recent review conducted by LIMRA. Individual hybrid life and Long Term Care Insurance policies have seen huge growth in the past few years.

Hybrid Sales on the Rise

LIMRA released the results of their 2014 Individual Life Combination Products Annual Review and they revealed a substantial rise in the sale of hybrid Long Term Care Insurance and life insurance products. In 2013, sales of hybrid policies grew 12%, marking the 5th consecutive year of double-digit growth. Total new premiums for combination,[…]

Upcoming Changes in the Long Term Care Insurance Market

By |May 19, 2014|Categories: Advice, Benefits, Breaking News, Buying Tips, Companies, Insurance Industry, Retirement Planning|Tags: , , |

Insurance is based on risk and risk is always changing, so it makes sense that insurance industries will undergo significant ebbs and flows over time. The Long Term Care Insurance market is no different and some notable changes are set to happen in the industry this summer.

I spoke with LTC Tree advisor and agent Rex Stephens recently about the changes that are coming up in the Long Term Care Insurance market and why they are happening. Rex explained the reasons behind the changes and filled me in on what to expect in the next few months. Watch the video discussion[…]

Nursing Home Ownership Shifting Over Time

By |May 14, 2014|Categories: Breaking News, Companies, Government, Retirement Planning|Tags: , |

Nursing homes in America are changing. Besides become more technologically equipped and altering their approach to care to a more person-centered method, nursing homes are experiencing a shift in ownership, from government and non-profit towards for-profit.

Changing Ownership

The Centers for Medicare and Medicaid Services regularly publishes a Nursing Home Data Compendium that evaluates the new data and information surrounding nursing homes in the United States and provides information as to how the picture is changing. Included in the 2012 compendium are several charts that display the changes that are occurring in the long term care industry amongst nursing homes. One of[…]

LTC Tree Agents Discuss Long Term Care Insurance Rate Increases

By |May 11, 2014|Categories: Advice, Benefits, Breaking News, Insurance Industry, Retirement Planning|Tags: , , |

If you’ve read anything about Long Term Care Insurance in the news, it’s almost a guarantee that you have read about the rate increases that have been happening over the past few years. Journalists and newspapers love to talk about the rate increases and how substantial they are, but they often leave out some of the more important points that could be of help to consumers.

LTC Tree agents held a video discussion recently to discuss the issue of Long Term Care Insurance rate increases, how they work, how policyholders are handling them, and how consumers thinking about buying a policy[…]

Connecticut House Passes Bill to Address Long Term Care Insurance Rate Hikes

By |May 5, 2014|Categories: Breaking News, Insurance Industry, States|Tags: , , , , |

The Connecticut House of Representatives recently passed a bill that is designed to mitigate the financial burden of Long Term Care Insurance rate increases on consumers.

Spreading Out the Cost

S.B. 199 would require insurers filing for a rate increase of 20% or more on any Long Term Care Insurance policy to spread the monetary increase out over a period of three years or more. The bill also requires insurers to provide policyholders with advanced notice of a premium rate increase before the increase is implemented, in addition to offering an option for policyholders to reduce their benefits and keep their[…]