Long-Term-Care Insurance Isn’t Dead, but Why People are Looking More Into Hybrid-Policies
Long-term-care insurance isn’t dead, according to a 2018 Wall Street Journal article, instead it is being used as an estate-planning-tool. Today Americans are more interested in hybrid policies and these policies are reshaping the U.S. insurance industry.
When LTC insurance first came about in the 90’s, middle class Americans were insurer’s target market. Pitching policies that would hopefully save the average American from exhausting their life savings or depending on Medicaid or their children. Considering LTC insurance is important, once you hit your 50’s, but especially the costs. Waiting to buy insurance isn’t an option once you already have a debilitating[…]
Are Millennials Being Smarter About There Future?
As surprising as it may be, millennials are in fact planning ahead for their long term care over baby boomers. Interestingly enough, majority of the baby boomers have not taken action in regards to preparing for their future. According to Senior Housing News, only 1 in 5 people have taken any type of action towards financing their future and preparing for long term care.
Not to mention, most of the older generations were much less informed and thought that the government would pay for their long term care. Millennials on the other hand, expected to pay for it themselves. They were[…]
Adults Worried About LTC Costs
Once you are getting close to retirement and long term care, many start to stress about the cost of long term care. Not being able to afford it is one of their biggest concerns. Many surveys suggest that many people will not be prepared financially to handle the impact of growing older will have on their finances.
According to an article published by insurancenewsnet.org they claimed that, “…only half of the respondents said they plan to take personal financial responsibility for their own care as they age. The others said they would leave that worry to the government, their children or[…]
In the News: Technology Incentives for Purchasing Policies
USA Today released an article about a new trend of insurance providers offering discounted technology when you purchase a policy. They specifically referenced John Hancock, offering Apple Watches for $25 when you enroll in a life insurance policy. Under the stipulation that you exercise regularly for two years, then you can keep the device, and if not you will be required to pay for the watch in installments. That’s a hefty price to pay if you don’t meet your exercise goal. Apple Watches can run from around $300 and up.
They said that Apple has started to partner with insurance[…]
Policies that Benefit Your Family
When you have a family that you could potentially be leaving behind. You want to make sure you and your loved ones will be protected and you are receiving the optimal benefits.
Luckily, there is an option to combine long term care and and life insurance that can give you long term care, but also give you the option to leave your unused funds to your loved ones. These policies are called hybrid policies and are a great way to combine two policies for you and the benefit of your family. Because they offer[…]
Long Term Care – Why You Need It.
Do you have an extra $80,000/year to spend post retirement? Statistics show that this is the average cost of long term care. Most people are unable to afford such a hefty price, but even more so, are unaware of how expensive it can be. Whether it’s you or your loved ones who are unsure of whether you should enroll in a long term care policy, you should be aware of the money you would be spending without it.
Most people will need long term care once they reach the age of 65. The prices are rising and many people are unable[…]
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.