LTC:What is Inflation Protection?
Do I need Inflation Protection?
It is no secret that there are high costs associated with long-term care today. Nursing home costs average between $80,000-$100,000 per year and the average duration of care is about 3 years. Take those to variables and you are looking at a potential $300,000 out of pocket expense, assuming you do not require care for longer than the assumed 3 years. In addition to this long-term care costs in general continue to increase at a 3%-5% rate per year! The issue[…]
Long Term Care Insurance Benefits
Most Long Term Care Insurance benefits can vary from one company to the next, but most all current plans have virtually the same core Long Term Care Insurance benefits. However, some of the fine details can differ so we will go over some of those differences below.
Home Health Care
The top ten Long Term Care Insurance plans all offer 100% of your benefits for home health care. However, many group Long Term Care plans you might buy at work do not offer 100%. Often the group Long Term Care Insurance plans will reduce your home care benefits to 50-75% whereas a[…]
How to Deal with Rising Long Term Care Insurance Rates
When it comes to retirement planning, you’ve got everything covered. Smart investments, check. 401k or pension, check. Insurance policies squared away, check. You’re even one of the savvy Americans who’ve already purchased a Long Term Care Insurance plan to make sure you’ll be able to cover your long-term care needs in retirement. But, suddenly, you are informed that your Long Term Care Insurance rates are going to be increased. You become worried about whether you can keep up with the payments or, more practically, whether paying Long Term Care Insurance ratesk is even a smart investment of your hard-earned money.[…]
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.