California Encourages Long Term Care Preparation with Partnership Policies
Planning for long term care isn’t as simple as setting money aside and being done with it, especially in states where care costs more than the national average. California is one of those states and residents can benefit significantly from taking the time to prepare for long term care costs in advance. The California Partnership for Long-Term Care provides a way to help Californians plan for the expenses associated with long term care without breaking the bank.
Long Term Care Expenses
The California Medi-Cal system currently pays for the majority of long term care facility expenses throughout the state. With the “Silver[…]
Sales of Hybrid Long Term Care Insurance Policies Hit Record High
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
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[…]
LTC Tree Agents Discuss Long Term Care Insurance Rate Increases
https://www.youtube.com/watch?v=z1kyo0CUcuw
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[…]
Prepare for the Unexpected in Retirement
When it comes to planning for retirement, there are all kinds of planners. There are those who have planned their retirement down to a t, there are those who haven’t planned anything, but keep reassuring themselves that it will get done this year, and there are those who have a pretty good general idea of how their retirement will go. In truth, though, there are certain things that are impossible to plan for no matter how meticulous you are, and a sudden health care emergency in retirement is one of them.
Finding Peace of Mind
Sudden health care in retirement is not[…]
Connecticut House Passes Bill to Address Long Term Care Insurance Rate Hikes
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[…]
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