It’s a common scenario: a couple meets with their financial advisor, who recommends they consider the purchase of long term care insurance. Many times, the husband refuses to consider the purchase, saying that either family history indicates care won’t be needed, or that it’s “too expensive,” or “we’ll take care of each other.” He may be in denial of the possible frailty that may accompany old age. Or he may be simply unaware of the possible consequences when long term care planning is avoided.
What’s the frequent result for our hypothetical couple? When the husband (who is usually older) needs long term care, his wife becomes the round-the-clock caregiver. There are no insurance funds available to alleviate her burden. So, she becomes the caregiver. So often husbands receive their long term care for free – in theory. The true cost is borne by their wives, who may become ill when faced with the Herculean task of caregiving. Looking to their own future, these women are likely to be widows when they need long term care, which is why the vast majority of long term residents in nursing homes are female.(1) They simply didn’t have the “built in caregiver” their husband did.
Many people are aware of the phenomena in which a spouse dies within the first year of becoming widowed; it’s often referred to as “dying of a broken heart.” But less obvious to society has been the similar impact of spouses who need long term care.
A Harvard study reported that an elderly person’s risk of dying rises when a spouse is hospitalized, especially if the spouse has a debilitating disease such as Alzheimer’s or other dementia, or chronic heart and pulmonary diseases. The stress involved with such a hospitalization raises the risk of the well spouse dying by up to 30%.(2) Dr. Nicholas Christakis of Harvard Medical School comments, “There can be illnesses in your spouse that can be worse for your health than the death of your spouse.(3)"Just as we plan for bigger retirement nest eggs to cover increased lifespans, we must also plan for the long term care that is often needed as we potentially face decades of chronic illness.
Just as purchasing life insurance at the birth of a child demonstrates love of a spouse, the purchase of long term care insurance continues a legacy of financially taking care of a spouse for better or worse.
1 US Census, National Nursing Home Survey (NNHS), conducted 1999, www.census.gov/prod/1/pop/p23-190/p23190-d.pdf
2 The New England Journal of Medicine, Mortality after the Hospitalization of a Spouse, published February 16, 2006
3 ”When one spouse ails, health risks rise for both” The Boston Globe, March 12, 2006
LongTermCareInsurancePros Simplifies Your Long-Term Care Financing and Planning!
Tuesday, December 4, 2007
It’s a common scenario: a couple meets with their financial advisor, who recommends they consider the purchase of long term care insurance. Many times, the husband refuses to consider the purchase, saying that either family history indicates care won’t be needed, or that it’s “too expensive,” or “we’ll take care of each other.” He may be in denial of the possible frailty that may accompany old age. Or he may be simply unaware of the possible consequences when long term care planning is avoided.
What’s the frequent result for our hypothetical couple? When the husband (who is usually older) needs long term care, his wife becomes the round-the-clock caregiver. There are no insurance funds available to alleviate her burden. So, she becomes the caregiver. So often husbands receive their long term care for free – in theory. The true cost is borne by their wives, who may become ill when faced with the Herculean task of caregiving. Looking to their own future, these women are likely to be widows when they need long term care, which is why the vast majority of long term residents in nursing homes are female.(1) They simply didn’t have the “built in caregiver” their husband did.
Many people are aware of the phenomena in which a spouse dies within the first year of becoming widowed; it’s often referred to as “dying of a broken heart.” But less obvious to society has been the similar impact of spouses who need long term care.
A Harvard study reported that an elderly person’s risk of dying rises when a spouse is hospitalized, especially if the spouse has a debilitating disease such as Alzheimer’s or other dementia, or chronic heart and pulmonary diseases. The stress involved with such a hospitalization raises the risk of the well spouse dying by up to 30%.(2) Dr. Nicholas Christakis of Harvard Medical School comments, “There can be illnesses in your spouse that can be worse for your health than the death of your spouse.3"Just as we plan for bigger retirement nest eggs to cover increased lifespans, we must also plan for the long term care that is often needed as we potentially face decades of chronic illness. Just as purchasing life insurance at the birth of a child demonstrates love of a spouse, the purchase of long term care insurance continues a legacy of financially taking care of a spouse for better or worse.
1 US Census, National Nursing Home Survey (NNHS), conducted 1999, www.census.gov/prod/1/pop/p23-190/p23190-d.pdf
2 The New England Journal of Medicine, Mortality after the Hospitalization of a Spouse, published February 16, 2006 3 ”When one spouse ails, health risks rise for both” The Boston Globe, March 12, 2006
What’s the frequent result for our hypothetical couple? When the husband (who is usually older) needs long term care, his wife becomes the round-the-clock caregiver. There are no insurance funds available to alleviate her burden. So, she becomes the caregiver. So often husbands receive their long term care for free – in theory. The true cost is borne by their wives, who may become ill when faced with the Herculean task of caregiving. Looking to their own future, these women are likely to be widows when they need long term care, which is why the vast majority of long term residents in nursing homes are female.(1) They simply didn’t have the “built in caregiver” their husband did.
Many people are aware of the phenomena in which a spouse dies within the first year of becoming widowed; it’s often referred to as “dying of a broken heart.” But less obvious to society has been the similar impact of spouses who need long term care.
A Harvard study reported that an elderly person’s risk of dying rises when a spouse is hospitalized, especially if the spouse has a debilitating disease such as Alzheimer’s or other dementia, or chronic heart and pulmonary diseases. The stress involved with such a hospitalization raises the risk of the well spouse dying by up to 30%.(2) Dr. Nicholas Christakis of Harvard Medical School comments, “There can be illnesses in your spouse that can be worse for your health than the death of your spouse.3"Just as we plan for bigger retirement nest eggs to cover increased lifespans, we must also plan for the long term care that is often needed as we potentially face decades of chronic illness. Just as purchasing life insurance at the birth of a child demonstrates love of a spouse, the purchase of long term care insurance continues a legacy of financially taking care of a spouse for better or worse.
1 US Census, National Nursing Home Survey (NNHS), conducted 1999, www.census.gov/prod/1/pop/p23-190/p23190-d.pdf
2 The New England Journal of Medicine, Mortality after the Hospitalization of a Spouse, published February 16, 2006 3 ”When one spouse ails, health risks rise for both” The Boston Globe, March 12, 2006
Tuesday, November 20, 2007
Long-Term Care Insurance and Partnership Programs
The world of Long-Term Care Insurance (LTCI) is an ever-changing realm where the Federal Government, State regulators and Insurance agencies are working to present viable and beneficial options to millions of Americans. The LTCI partnership program’s historical roots began in the 1980s with legislation designed to encourage people who might otherwise turn to Medicaid to finance their long-term care. Until recently, these partnership programs only operated in four states: California, Connecticut, Indiana and New York.
With the passage of the Deficit Reduction Act of 2005 (DRA 05), many other states have adopted the requirements for a qualifying Long-Term Care Partnership Program policy. Currently, twenty two additional states have already enacted authorizing legislation: Arkansas, Colorado, Florida, Georgia, Hawaii, Idaho, Illinois, Iowa, Maryland, Massachusetts, Michigan, Missouri, Montana, Nebraska, New Hampshire (pending), North Dakota, Ohio, Oklahoma, Pennsylvania, Rhode Island, Virginia & Washington.
If/when people who purchase these qualifying policies deplete their insurance benefits, they may then retain a specified amount of assets (usually equal to the face value of the insured’s contract) and still qualify for Medicaid, provided they meet all other Medicaid eligibility criteria. This is a dramatic difference from the current spend-down provision that reduces the client’s assets to 2,000 dollars before Medicaid eligibility begins.
Although opponents argue that this partnership program approach actually opens the door to more individuals qualifying for Medicaid while retaining more assets, proponents believe that the initial provision period they receive from LTCI and the time ‘cushion’ adequately compensate for this difference. Part of this argument in support of the program hypothesizes that many who utilize their LTCI will in fact recover before that time in which they would turn to Medicaid and be sheltered from the spend-down aspect and Medicaid parameters they would otherwise have faced. So far, the data from the original four states are inconclusive because the programs are still relatively new and few purchasers have begun to use the benefits. (Of the 172,477 initial contracts in the original four states, the number receiving partnership benefits is 1,209)*.
With the likely expansion of LTCI partnership programs across the county, consumer education is critical. Some vital issues include income eligibility requirements, functional eligibility and the ability to remain at home. This is where it is important to speak with a Long-Term care Specialist. It is important to address these relevant issues. Due to Medicaid’s income eligibility, some who have purchased or will purchase partnership policies may never qualify for Medicaid because their incomes are too high, even in retirement. Medicaid’s functional eligibility, or eligibility based on the insured’s functional capacities, may also be more restrictive than that of the partnership policy.
Finally the ability to remain at home is a major issue for most consumers, as Medicaid beneficiaries have no entitlement to continue to receive LTC services in their homes or in community-based settings, as provided for by their policy.
Therefore it behooves you as a client to educate yourself through a Long-Term care Specialist who understands what these products mean in providing for long-term care. A Long-Term care Specialist satisfies the Partnership Program training requirement and its continuing education. and understands the implications of these new programs, procedures and products.
Simplify your Long-Term care planning with Long Term Care Insurance Pros
To answer you immediate questions, just call 1-877-GO-4-LTCi (464-5824)
With the passage of the Deficit Reduction Act of 2005 (DRA 05), many other states have adopted the requirements for a qualifying Long-Term Care Partnership Program policy. Currently, twenty two additional states have already enacted authorizing legislation: Arkansas, Colorado, Florida, Georgia, Hawaii, Idaho, Illinois, Iowa, Maryland, Massachusetts, Michigan, Missouri, Montana, Nebraska, New Hampshire (pending), North Dakota, Ohio, Oklahoma, Pennsylvania, Rhode Island, Virginia & Washington.
If/when people who purchase these qualifying policies deplete their insurance benefits, they may then retain a specified amount of assets (usually equal to the face value of the insured’s contract) and still qualify for Medicaid, provided they meet all other Medicaid eligibility criteria. This is a dramatic difference from the current spend-down provision that reduces the client’s assets to 2,000 dollars before Medicaid eligibility begins.
Although opponents argue that this partnership program approach actually opens the door to more individuals qualifying for Medicaid while retaining more assets, proponents believe that the initial provision period they receive from LTCI and the time ‘cushion’ adequately compensate for this difference. Part of this argument in support of the program hypothesizes that many who utilize their LTCI will in fact recover before that time in which they would turn to Medicaid and be sheltered from the spend-down aspect and Medicaid parameters they would otherwise have faced. So far, the data from the original four states are inconclusive because the programs are still relatively new and few purchasers have begun to use the benefits. (Of the 172,477 initial contracts in the original four states, the number receiving partnership benefits is 1,209)*.
With the likely expansion of LTCI partnership programs across the county, consumer education is critical. Some vital issues include income eligibility requirements, functional eligibility and the ability to remain at home. This is where it is important to speak with a Long-Term care Specialist. It is important to address these relevant issues. Due to Medicaid’s income eligibility, some who have purchased or will purchase partnership policies may never qualify for Medicaid because their incomes are too high, even in retirement. Medicaid’s functional eligibility, or eligibility based on the insured’s functional capacities, may also be more restrictive than that of the partnership policy.
Finally the ability to remain at home is a major issue for most consumers, as Medicaid beneficiaries have no entitlement to continue to receive LTC services in their homes or in community-based settings, as provided for by their policy.
Therefore it behooves you as a client to educate yourself through a Long-Term care Specialist who understands what these products mean in providing for long-term care. A Long-Term care Specialist satisfies the Partnership Program training requirement and its continuing education. and understands the implications of these new programs, procedures and products.
Simplify your Long-Term care planning with Long Term Care Insurance Pros
To answer you immediate questions, just call 1-877-GO-4-LTCi (464-5824)
Tuesday, November 13, 2007
Tips for Getting Long-Term Care Insurance
Savings
Limiting your benefits can save you money. Accepting higher deductibles and limiting the length of time covered can substantially cut annual premiums. Few people need their benefits for more than five years.
Inflation
Don't skip inflation protection. Over time, unprotected benefits can shrink drastically in value and out-of-pocket expenses will soar. Inflation protection of 5% is recommended especially for Baby Boomers. Do your homework and speak with a Long-Term Care specialist.
Research your company and your agent. Consumer experts recommend that you select an agent who is specializes in Long-Term care planning and who sells policies for more than one firm.
Know your policy
Consumers often misunderstand what care is covered by their policy and what events trigger coverage. If you want your policy to cover in-home services and the cost of a nursing home, be sure it is spelled out.
Be careful
Be wary of pitches to change your policy -- it could waste all the money you've paid in premiums. There should be a good set of reasons to swap policies cautions Dane Petchul of Long Term Care Insurance Pros.
Limiting your benefits can save you money. Accepting higher deductibles and limiting the length of time covered can substantially cut annual premiums. Few people need their benefits for more than five years.
Inflation
Don't skip inflation protection. Over time, unprotected benefits can shrink drastically in value and out-of-pocket expenses will soar. Inflation protection of 5% is recommended especially for Baby Boomers. Do your homework and speak with a Long-Term Care specialist.
Research your company and your agent. Consumer experts recommend that you select an agent who is specializes in Long-Term care planning and who sells policies for more than one firm.
Know your policy
Consumers often misunderstand what care is covered by their policy and what events trigger coverage. If you want your policy to cover in-home services and the cost of a nursing home, be sure it is spelled out.
Be careful
Be wary of pitches to change your policy -- it could waste all the money you've paid in premiums. There should be a good set of reasons to swap policies cautions Dane Petchul of Long Term Care Insurance Pros.
Thursday, November 8, 2007
Median age for those seeking Long-Term care insurance is 58
The average age of people buying long-term care insurance benefits dropped below 60 for the first time after falling steadily for more than 10 years, a trade group said.
A study by the American Association for Long-Term Care Insurance showed that the average age of Americans buying insurance for home care and assisted living fell to 58 years old in 2007.
The average age has been on the decline. It’s down from an average of 61 years in 2005 and 69 years in 1995.The trend reflects a growing awareness of the importance of planning for health care and retirement, said Jesse Slome, executive director of the group.
More people have begun securing long-term care insurance in their 50s because that decade is “the sweet spot for long-term care planning,’’ when insurance costs are generally lower, Slome said. Insurers have also begun offering products that evolve coverage over time, a move that has attracted more baby boomers, he said.
About 8 million Americans now have long-term care benefits, according to the study. That’s up slightly from a year ago and about 60 percent higher than in 2000, when fewer than 5 million people had benefits for long-term care.
Long-Term Care insurance is made easy with LongTermCareInsurancePros.
For a No Hype, No Obligation consultation email dane@LongTermCareInsurancePros.com or call 949-854-3001 or 1-877-GO-4_LTCi (464-5824)
A study by the American Association for Long-Term Care Insurance showed that the average age of Americans buying insurance for home care and assisted living fell to 58 years old in 2007.
The average age has been on the decline. It’s down from an average of 61 years in 2005 and 69 years in 1995.The trend reflects a growing awareness of the importance of planning for health care and retirement, said Jesse Slome, executive director of the group.
More people have begun securing long-term care insurance in their 50s because that decade is “the sweet spot for long-term care planning,’’ when insurance costs are generally lower, Slome said. Insurers have also begun offering products that evolve coverage over time, a move that has attracted more baby boomers, he said.
About 8 million Americans now have long-term care benefits, according to the study. That’s up slightly from a year ago and about 60 percent higher than in 2000, when fewer than 5 million people had benefits for long-term care.
Long-Term Care insurance is made easy with LongTermCareInsurancePros.
For a No Hype, No Obligation consultation email dane@LongTermCareInsurancePros.com or call 949-854-3001 or 1-877-GO-4_LTCi (464-5824)
Tuesday, November 6, 2007
Boomers think they have Long-Term Coverage
Most U.S. baby boomers surveyed said they believed that Medicare or "other health insurance" will pay for their long-term care but are wrong.
The survey of 2,000 U.S. baby boomers ages 45 to 61, by StrategyOne for America’s Health Insurance Plans, found 54 percent of baby boomers said they think Medicare will pay for long-term care services, while 44 percent said they believe "other health insurance" will pay.
In reality, Medicare doesn't, cover long-term care indefinitely and Medicaid will cover these services but only after individuals to spend down nearly all of their assets, said Robert Moran, of StrategyOne."Baby boomers believe they have more coverage than they actually do, giving them a false feeling of financial preparedness to handle long-term care costs," Moran said in a statement.
The survey found that 30 percent of baby boomers think they have long-term care coverage, but the National Association of Insurance Commissioners says only some 5.2 million U.S. adults have long-term care insurance -- even if all those covered were boomers, which they are not, that would only account for 6.6 percent of the U.S. boomer population.
Simplify your Long-Term Care Planning with LongTermCareInsurancePros
For immediate attention contact a Long-Term Care specialist at 949-854-3001 or 1-877-GO4-LCTi (464-5824)
The survey of 2,000 U.S. baby boomers ages 45 to 61, by StrategyOne for America’s Health Insurance Plans, found 54 percent of baby boomers said they think Medicare will pay for long-term care services, while 44 percent said they believe "other health insurance" will pay.
In reality, Medicare doesn't, cover long-term care indefinitely and Medicaid will cover these services but only after individuals to spend down nearly all of their assets, said Robert Moran, of StrategyOne."Baby boomers believe they have more coverage than they actually do, giving them a false feeling of financial preparedness to handle long-term care costs," Moran said in a statement.
The survey found that 30 percent of baby boomers think they have long-term care coverage, but the National Association of Insurance Commissioners says only some 5.2 million U.S. adults have long-term care insurance -- even if all those covered were boomers, which they are not, that would only account for 6.6 percent of the U.S. boomer population.
Simplify your Long-Term Care Planning with LongTermCareInsurancePros
For immediate attention contact a Long-Term Care specialist at 949-854-3001 or 1-877-GO4-LCTi (464-5824)
Friday, November 2, 2007
Long-TermCare Awareness Week November 4-10, 2007
The U.S. Congress proposed the Week of November 4-10, 2007 be declared Long-Term Care Awareness Week "urging the people of the United State to recognize such a week as an opportunity to learn more about the potential risks and costs...and the options available."
We're proud to support this important educational campaign.
We're proud to support this important educational campaign.
- Make Long-term care part of your overall financial plan.
- Buy young to avoid the high cost of waiting
- Lock in your health and available good health discounts
- Discounts can help reduce the cost
The first step is in your hands
Getting the information you need to make an informed decision is a smart move. Waiting is never advantageous. There's no obligation, of course.
Contact LongTermCareInsurancePros at 949-854-3001
or 877-GO-4-LTCi (464-5824).
You will be in touch with a Long-Term Care Specialist at dane@LongTermCareInsurancePros.com
Make Long-Term Care Awareness Week the time you start planning.
Monday, October 22, 2007
Long-Term Care-Avoidable Pains
Long term care insurance isn't for everyone. If you're a multi-millionaire and you are confident that your legacy will still be intact then you can possibly do well without long term care insurance. Dane Petchul, LongTermCareInsurancePros strongly advises his clients to get a long term care insurance policy if they do not belong to such a special group.
Spending $75K on long term care a year will destabilize your plans for your kids unless you're really rich. If you love your kids and if you have plans of how you would like to spend your last days on your own terms, you could easily be made to live at the mercy of others instead (or however and wherever the government thinks is good for you) if for any reason you require long term care.
Long term care insurance becomes a solid protection from such possibilities thereby ensuring your savings and investments are used exactly the way you planned.
If you wait till you get older it becomes more difficult for you to get an insurer. Eleven out of every hundred long term care insurance applicants in their fifties are usually NOT accepted. However, the number drops for those in their sixties as only 81 would be accepted out of every 100. But for those in their seventies, their rejection rate is about 43%.
You can see the figures and you can also decide if you'd definitely belong to those accepted at an advanced age. You need long term care insurance only because the probability exists that you'll need long term care as you grow older.
Buying at a later age means running a higher risk of not being accepted and also paying much more in the long run. This is because even if you're accepted, your premiums become so high that your total over time is much more than the total for someone who got theirs earlier.
You can, however, lower your long term care insurance costs by getting at least three insurance quotes from a Long-Term Care planning specialist. The major carriers have different elements within their plans that make them difficult to compare.
In order to diligently compare long term care insurance quotes, it is important to discuss the different plans with your Long-Term care specialist. In dealing with an expert in long-term care planning, you can save yourself time and money in choosing the best plan for you.
Would like to speak with a Long-Term Care professional? Just call 949-854-3001
or 877-GO-4-LCTi (464-5824)
Spending $75K on long term care a year will destabilize your plans for your kids unless you're really rich. If you love your kids and if you have plans of how you would like to spend your last days on your own terms, you could easily be made to live at the mercy of others instead (or however and wherever the government thinks is good for you) if for any reason you require long term care.
Long term care insurance becomes a solid protection from such possibilities thereby ensuring your savings and investments are used exactly the way you planned.
If you wait till you get older it becomes more difficult for you to get an insurer. Eleven out of every hundred long term care insurance applicants in their fifties are usually NOT accepted. However, the number drops for those in their sixties as only 81 would be accepted out of every 100. But for those in their seventies, their rejection rate is about 43%.
You can see the figures and you can also decide if you'd definitely belong to those accepted at an advanced age. You need long term care insurance only because the probability exists that you'll need long term care as you grow older.
Buying at a later age means running a higher risk of not being accepted and also paying much more in the long run. This is because even if you're accepted, your premiums become so high that your total over time is much more than the total for someone who got theirs earlier.
You can, however, lower your long term care insurance costs by getting at least three insurance quotes from a Long-Term Care planning specialist. The major carriers have different elements within their plans that make them difficult to compare.
In order to diligently compare long term care insurance quotes, it is important to discuss the different plans with your Long-Term care specialist. In dealing with an expert in long-term care planning, you can save yourself time and money in choosing the best plan for you.
Would like to speak with a Long-Term Care professional? Just call 949-854-3001
or 877-GO-4-LCTi (464-5824)
Monday, October 15, 2007
Women's Need For More Long-Term Care
Women live longer than men, have higher rates of diability and chronic health problems and, as a result, many women need long-term care services without having the resources to pay for them.
On average, women outlive men by about five years. Women who reach age 65 can expect to live an average of 20 more years. With advancing age, disabilities are more prevalent and the need for long-term care services increases.
On average, women outlive men by about five years. Women who reach age 65 can expect to live an average of 20 more years. With advancing age, disabilities are more prevalent and the need for long-term care services increases.
- More than 70 percent of nursing home residents are women.
- Almost two-thirds of formal (paid) home care users and informal (unpaid) care recipients are women.
- One in nine women age 75 or older, and one in five women age 85 or older needs assistance with daily activities.
It's Especially Important For Women To Plan Today To Protect Tomorrow
- Avoiding the issue of planning for long-term care won't make it go away.
- Long-term care insurance is an option every woman should consider.
- Waiting to find out what coverage costs can be a mistake because costs increase every year as you get older.
- More important, a change in your health can make you ineligible for this protection (no matter how much you are will to pay).
DID YOU KNOW?
Woman pay the same for long-term care insurance protection as men. It's True. It's an advantage currently available.
Click here with any questi
ons. Or Contact Dane at 877-GO-4-LTCi (464-5824) or email at dane@LongTermCareInsurancePros.com
Tuesday, September 25, 2007
Will Your Financial Planner help Pay Your Long-Term Care Bills?
Many lawyers and advisors are now reluctant to recommend against Long Term Care Insurance for fear of law suits from the children. When the children have spent hundreds of thousands of dollars that was required to pay for their parents Long Term Care knowing that the money was coming out of their inheritance.
Planners who fail to recommend coverage are more times than not, unaware of the real RISK of needing care one day.
The senior has now become the GREATEST financial risk that Americans face today. The majority of them are unaware of it because let's face it: No One wants to think about needing Long Term Care. It is going to happen to someone else!
Long Term Care is the biggest reason for financial failures among seniors today. Yet there are a lot of Financial Planners and Investment Advisors who will say that you don't need Long Term Care Insurance. If you already have a lot of money, perhaps you don't!
The question is: Would it be a smart decision to have this coverage?
What we are seeing today are many Financial Planners split on the subject of LTC Insurance. You will hear some say that if you have any resources you should not be without it, that it is an integral part of financial planning, while others think if you have enough money you should self-insure.
Who is right?
Every financial advisor I talk with would recommend long term care coverage if he knew in advance that his client would need several years of long term care.
It must be concluded that Financial advisors who recommend against LTC Insurance figure you are not going to need care since they would recommend you obtain coverage if they knew you were going to have to spend several hundred thousand dollars.
You should find out from the advisor what is the BASIS for their prediction? Also, be aware that Advisors are sales people. They are in the business of making you money. If you purchase Long Term Care Insurance, you have less money for them to manage!
The decision is yours.
At this point in your life, are you more interested in making a few more thousand dollars a year or are you more interested in protecting what you have already earned from the most DEVASTATING financial risk that people face in America today?
One of the biggest financial mistakes a person can make today is needing Long-Term Care and having no coverage! Is this a mistake you want to take a chance on making? Seek out a Long-Term Care Insurance Specialist to help you make the best informed decision for you and your family.
Remember, your Financial Planner or Advisor is not going to pay your long term care bills.
You will!
If you wish to speak directly to a Long-Term Care specialist, just call 949-854-3001 or Toll-Free 877-GO-4-LCTi or email at dane@LongTermCareInsurancePros.com
Planners who fail to recommend coverage are more times than not, unaware of the real RISK of needing care one day.
The senior has now become the GREATEST financial risk that Americans face today. The majority of them are unaware of it because let's face it: No One wants to think about needing Long Term Care. It is going to happen to someone else!
Long Term Care is the biggest reason for financial failures among seniors today. Yet there are a lot of Financial Planners and Investment Advisors who will say that you don't need Long Term Care Insurance. If you already have a lot of money, perhaps you don't!
The question is: Would it be a smart decision to have this coverage?
What we are seeing today are many Financial Planners split on the subject of LTC Insurance. You will hear some say that if you have any resources you should not be without it, that it is an integral part of financial planning, while others think if you have enough money you should self-insure.
Who is right?
Every financial advisor I talk with would recommend long term care coverage if he knew in advance that his client would need several years of long term care.
It must be concluded that Financial advisors who recommend against LTC Insurance figure you are not going to need care since they would recommend you obtain coverage if they knew you were going to have to spend several hundred thousand dollars.
You should find out from the advisor what is the BASIS for their prediction? Also, be aware that Advisors are sales people. They are in the business of making you money. If you purchase Long Term Care Insurance, you have less money for them to manage!
The decision is yours.
At this point in your life, are you more interested in making a few more thousand dollars a year or are you more interested in protecting what you have already earned from the most DEVASTATING financial risk that people face in America today?
One of the biggest financial mistakes a person can make today is needing Long-Term Care and having no coverage! Is this a mistake you want to take a chance on making? Seek out a Long-Term Care Insurance Specialist to help you make the best informed decision for you and your family.
Remember, your Financial Planner or Advisor is not going to pay your long term care bills.
You will!
If you wish to speak directly to a Long-Term Care specialist, just call 949-854-3001 or Toll-Free 877-GO-4-LCTi or email at dane@LongTermCareInsurancePros.com
Tuesday, September 18, 2007
The Smart Choice--Long-Term Care Insurance
The purchase of Long-Term care insurance can be compared to the delaying of a most needed visit to the Doctor’s office.
You know it’s in your best interest to make that appointment and follow through with the visit, but fear and procrastination get the best of you.
The longer you delay, the greater the anxiety. Once the appointment has taken place, the anxiety vanishes. It is the same with Long-Term care insurance.
Once it has been purchased, clients breathe a “sign of relief” knowing that they have done everything they can to protect themselves and their families.
Ask Mr Long Term Care is the trusted advisor who helps motivate and educate you in this rapidly changing industry.
It’s not too early to put this plan in place.
AskMrLongTermCare is a specialist in Long-Term Care insurance.
Long-Term Care insurance is What we Do!
For immediate attention, Call 949-854-3001 or 877-GO-4-LTCi
You know it’s in your best interest to make that appointment and follow through with the visit, but fear and procrastination get the best of you.
The longer you delay, the greater the anxiety. Once the appointment has taken place, the anxiety vanishes. It is the same with Long-Term care insurance.
Once it has been purchased, clients breathe a “sign of relief” knowing that they have done everything they can to protect themselves and their families.
Ask Mr Long Term Care is the trusted advisor who helps motivate and educate you in this rapidly changing industry.
It’s not too early to put this plan in place.
AskMrLongTermCare is a specialist in Long-Term Care insurance.
Long-Term Care insurance is What we Do!
For immediate attention, Call 949-854-3001 or 877-GO-4-LTCi
Tuesday, September 11, 2007
More Seniors Tap Their Homes for Income
More older Americans wanting to take advantage of the rise in home prices over the past decade without having to move are considering a reverse mortgage to tap their equity. About 150,000 homeowners will apply for one this year -- twice last year's number, reports the National Reverse Mortgage Lenders Association.
With a reverse mortgage, you receive tax-free cash instead of making payments. Your debt increases rather than decreases, but you do not have to repay it until you move. If you die, your estate settles up. Payout options include a line of credit or fixed monthly payments for life or a specific period. You must be 62 to qualify.
The most common type is the federally insured home-equity conversion mortgage, which is subject to the Federal Housing Administration's loan limits ($362,790 for high-cost urban areas, $200,160 elsewhere), but you will get only a percentage of that.
The exact amount depends on your locale, your age, your equity in your home and the interest rate. For now, high up-front fees make reverse mortgages useful mainly for people who plan to stay in their homes for more than a few years and have few other assets.
Reverse mortgages may be an excellent way to increase your monthly income in retirement. The additional income can help pay for Long-term care insurance premiums to further protect your income stream and your financial "quality of life."
To get your questions answered, contact a Long-Term Care specialist
For immediate attention call Dane at 949-854-3001
Long-Term Care insurance is What We Do!
With a reverse mortgage, you receive tax-free cash instead of making payments. Your debt increases rather than decreases, but you do not have to repay it until you move. If you die, your estate settles up. Payout options include a line of credit or fixed monthly payments for life or a specific period. You must be 62 to qualify.
The most common type is the federally insured home-equity conversion mortgage, which is subject to the Federal Housing Administration's loan limits ($362,790 for high-cost urban areas, $200,160 elsewhere), but you will get only a percentage of that.
The exact amount depends on your locale, your age, your equity in your home and the interest rate. For now, high up-front fees make reverse mortgages useful mainly for people who plan to stay in their homes for more than a few years and have few other assets.
Reverse mortgages may be an excellent way to increase your monthly income in retirement. The additional income can help pay for Long-term care insurance premiums to further protect your income stream and your financial "quality of life."
To get your questions answered, contact a Long-Term Care specialist
For immediate attention call Dane at 949-854-3001
Long-Term Care insurance is What We Do!
Saturday, September 8, 2007
Six Retirement Questions Everyone Must Answer
Retirement provides a chance to enjoy the fruits of one's labor. However, a pleasurable retirement requires proactive and thorough planning. With this in mind, we're going to go through six questions that every person should ask themselves as they approach retirement. Answering these questions for yourself should help guide your ongoing retirement plans.
1.) What's the grand plan?
2.) Do you have the cash?
3.) Do you have a plan in place for Long-Term Care?
4.) Should you move?
5.) When should you sell your home?
6.) Have you made an estate plan?
Read the entire article
To simplify, your Long-Term Care planning, contact a dedicated specialist in this field.
Sunday, September 2, 2007
The Dangers of Long-Term Care...It's About Your Family
Long-Term Care insurance has a place and there are good uses for it. "Some people own it for asset protection, estate preservation or an aversion to welfare. I think you should own Long-Term Care insurance to protect your most precious asset: Your Family," says Dane A. Petchul, Long-Term Care Specialist.
Asset protection - O.K., estate preservation (same thing really), aversion to Welfare-O.K. Protecting your family, Definitely!
One should consider the following factors before becoming a caregiver or asking a family member to take over the responsibility
1) Will a family member have the time and financial ability to become a full time or even part time caregiver? Primary caregivers duties can average between 40 to 60 hours a week.
2) Will a family member have the physical strength and ability to provide care? Serious back, shoulder and arm injuries are common in caregivers, due to improper transferring techniques or inadequate assistance with transferring.
3) Will any family member be emotionally stable and compassionate enough to deal with the intense and unrelenting stress of caregiving? High stress levels can be a major factor for caregivers. Elder care abuse, due to high stress, is just as prevalent, if not more so, from family members as it is from paid professionals.
4) Is any family member trained to provide the physical necessary care? Inserting catheters and I.V.s, giving shots or administering medicine to a possibly uncooperative dementia sufferer takes training, organization and a discerning eye. So does caring for pressure sores or watching for potentially dangerous changes in health.
5) Will any family member be willing to give up their current lifestyle in order to provide care for you?
Keep this in mind: While providing care can be an enriching and fulfilling experience for some, many caregivers do it out of guilt or a sense of obligation.
Most people do not consider the negative impacts on their social life or physical, mental or emotional health before volunteering to become someone's caregiver.
For instance, more than 1/3 of caregivers experience depression and anxiety. Caregivers tend to forget to or, due to the extent of their duties, cannot sufficiently take care of themselves. Interrupted sleep, less attention to dietary needs, inadequate exercise and physical injuries often afflict caregivers. Increased mental, physical and emotional stress can cause high blood pressure, lowered immune system and coronary problems, just to name a few.
Shockingly, caregivers who have high levels of stress, when compared to non-caregivers, are 63 percent more likely to die within the next 4 years.
When you are considering relying upon family or friends that are "close by", ask yourself this:
Is there a family member that has the dedication and the inclination to do the dirty work?
Are they willing to get you out of bed, bathed, dressed, teeth and hair brushed, fed, toileted and kept comfortable - every day until you die?
Is there a family member or friend who would be willing to be at your beck and call every moment of the day?
Is there someone "close by" who will be willing, or with whom you will be comfortable enough, to wipe your backside after you use the toilet, or to clean up your poo or urine from the floor and furniture if you have an accident, or to change your diapers or catheter should you become totally incontinent?
Would you even want to put that kind of responsibility and stress on any of your loved ones, if there was another option?
This is the down and dirty, real-world, in-the-trenches caregiving.
So, considering the risk factor that almost half of all Americans will need long term care sometime in their life, every one of us had better take a very good look at what may be in store if we become so challenged… and we had better plan accordingly now while we still can.
It is certainly a lot easier to go into a long term care facility as a paying patient than to have to go broke and accept Medicaid."Yes, it is. Especially if you have a spouse, because your spouse will end up on the raw end of the deal, with no savings to speak of, according to prevailing state law.
Without insurance, all assets must be "spent down" for care before Medicaid can kick in.
The insurance may be expensive, but you may be willing to budget it into your lifestyle today- in other words, bear the cost of buying the insurance - for the promise of tomorrow's security.
The younger you are when you buy long-term care insurance, of course, the less the premiums are This trade-off is the nature of all insurance. Isn’t the reason we have insurance is because we love our families.
To see if this is appropriate for you and your family, get your Free, No Hassle, No Obligation Long-Term Care insurance quote today!
Asset protection - O.K., estate preservation (same thing really), aversion to Welfare-O.K. Protecting your family, Definitely!
One should consider the following factors before becoming a caregiver or asking a family member to take over the responsibility
1) Will a family member have the time and financial ability to become a full time or even part time caregiver? Primary caregivers duties can average between 40 to 60 hours a week.
2) Will a family member have the physical strength and ability to provide care? Serious back, shoulder and arm injuries are common in caregivers, due to improper transferring techniques or inadequate assistance with transferring.
3) Will any family member be emotionally stable and compassionate enough to deal with the intense and unrelenting stress of caregiving? High stress levels can be a major factor for caregivers. Elder care abuse, due to high stress, is just as prevalent, if not more so, from family members as it is from paid professionals.
4) Is any family member trained to provide the physical necessary care? Inserting catheters and I.V.s, giving shots or administering medicine to a possibly uncooperative dementia sufferer takes training, organization and a discerning eye. So does caring for pressure sores or watching for potentially dangerous changes in health.
5) Will any family member be willing to give up their current lifestyle in order to provide care for you?
Keep this in mind: While providing care can be an enriching and fulfilling experience for some, many caregivers do it out of guilt or a sense of obligation.
Most people do not consider the negative impacts on their social life or physical, mental or emotional health before volunteering to become someone's caregiver.
For instance, more than 1/3 of caregivers experience depression and anxiety. Caregivers tend to forget to or, due to the extent of their duties, cannot sufficiently take care of themselves. Interrupted sleep, less attention to dietary needs, inadequate exercise and physical injuries often afflict caregivers. Increased mental, physical and emotional stress can cause high blood pressure, lowered immune system and coronary problems, just to name a few.
Shockingly, caregivers who have high levels of stress, when compared to non-caregivers, are 63 percent more likely to die within the next 4 years.
When you are considering relying upon family or friends that are "close by", ask yourself this:
Is there a family member that has the dedication and the inclination to do the dirty work?
Are they willing to get you out of bed, bathed, dressed, teeth and hair brushed, fed, toileted and kept comfortable - every day until you die?
Is there a family member or friend who would be willing to be at your beck and call every moment of the day?
Is there someone "close by" who will be willing, or with whom you will be comfortable enough, to wipe your backside after you use the toilet, or to clean up your poo or urine from the floor and furniture if you have an accident, or to change your diapers or catheter should you become totally incontinent?
Would you even want to put that kind of responsibility and stress on any of your loved ones, if there was another option?
This is the down and dirty, real-world, in-the-trenches caregiving.
So, considering the risk factor that almost half of all Americans will need long term care sometime in their life, every one of us had better take a very good look at what may be in store if we become so challenged… and we had better plan accordingly now while we still can.
It is certainly a lot easier to go into a long term care facility as a paying patient than to have to go broke and accept Medicaid."Yes, it is. Especially if you have a spouse, because your spouse will end up on the raw end of the deal, with no savings to speak of, according to prevailing state law.
Without insurance, all assets must be "spent down" for care before Medicaid can kick in.
The insurance may be expensive, but you may be willing to budget it into your lifestyle today- in other words, bear the cost of buying the insurance - for the promise of tomorrow's security.
The younger you are when you buy long-term care insurance, of course, the less the premiums are This trade-off is the nature of all insurance. Isn’t the reason we have insurance is because we love our families.
To see if this is appropriate for you and your family, get your Free, No Hassle, No Obligation Long-Term Care insurance quote today!
Saturday, August 25, 2007
Long-Term Care for "Graying" America--Practical Considerations
Long-Term care situations are becoming more prominent especially with maturing Americans living longer with more vital lives. How will they afford the growing cost of healthcare?
While various forms of insurance typically cover routine doctor visits and emergency medical situations sufficiently, coverage for ongoing long-term healthcare needs is often limited and restricted. And, paying for long-term care needs can quickly deplete even substantial savings.
Long-term care: Not just for the elderly
This year, about 9 million Americans over the age 65 will need some form of long-term care, and that number will reach 12 million by 2020. Typically, the majority of people who require long-term care are over the age of 65. But a substantial 40 percent of those requiring long-term care are between the ages of 18 and 64.
Consequently, everyone should have reasonable provisions for healthcare financing in place.
Long-term care covers a range of services and supports, both medical and personal, to help individuals over an extended time with a chronic illness or disability (including cognitive impairments such as memory loss, confusion, or disorientation).
The bulk of long-term care involves non-skilled personal assistance with performing “activities of daily living” (ADLs), such as bathing, dressing, toileting, getting around the house, and eating.
Another category of assistance, “instrumental activities of daily living” (IADLs) includes preparing meals, shopping, bill paying and managing money, cleaning and other household chores, using the telephone or computer, and taking medication. Much of long-term care can be provided in your own home. You can have help come to you for the assistance you need and still be living in the comfort of your own home.
According to the U.S. Census Bureau, the chances of needing long-term care are higher for women:
However, one in five will need this care for more than five years. Long-term care needs often develop gradually and may include: home care from nurses, aides, therapists; community-based services; and care in a variety of long-term facilities.
Assistance from family, friends, and community
Perhaps the most important aspect of what you will want from long-term care is the ability to continue an active lifestyle with the greatest degree of independence as possible. While paid services can be extensive and partly or wholly covered by your insurance, most people also rely on help from family, friends, and community.
Case managers, typically nurses or social workers, can assist you and your family in designing a practical regimen for long-term care needs.
The trend today is to help older people stay within the community, preferably living at home (or in a family member’s home). Many communities offer adult day service programs, volunteer visitor/companion services, meal programs, transportation services, senior centers, and respite care—to give family members necessary relief to avoid caregiver “burn-out.”
Home care may also include emergency response systems, and great advances in technology can now help family members monitor an older person’s daily regimen while preserving a high degree of independence.
Assisted living housing, nursing homes, hospice programs
Generally, there is a movement away from broad-based reliance on nursing homes if possible. This may include adult foster care homes, which provide room and board, 24-hour availability, help managing medications, and assistance with ADLs.
Unlike skilled nursing homes, which are highly regulated and licensed by state governments, adult foster care homes and their licensing requirements vary greatly from state to state.
Assisted living facilities help people who need some level of care but not as much as they would receive at a nursing home. Residents often have their own apartments or rooms, but also receive support services—daily meals, assistance with personal care, help with medications, housekeeping and laundry, 24-hour security, on-site staff for emergencies, and social programs.
Costs vary widely, and the requirements of these regulated facilities vary from state to state.
Families often turn to nursing homes for round-the-clock care when it is no longer possible to care safely or cost-effectively for a person at home. The majority of nursing home stays are for less than a year, with 30 percent being less than three months. However, 20 percent of nursing home stays are for more than five years.
Hospice programs, generally, help patients and families cope with terminal illness. Many patients are reluctant to use these programs because they are required to forgo advanced medical treatments in order to qualify.
However, some hospices and private health insurers now allow more extensive medical treatment. The combination of services has already shown encouraging, life-prolonging results.
Long-term care insurance
The costs for prolonged long-term care can be high. Frequently, Medicaid covers long-term nursing home residents; but you usually have to “spend down” your available assets (generally to $2,000) before you are eligible. Long-term care insurance can protect you financially in worst-case scenarios, and help you avoid the depletion of your estate.
However, insurance for those worst-case scenarios is expensive, and only a small number of policyholders need that much coverage. You may prefer a more modest policy that will cushion part of the financial drain.
These insurance policies typically cost less for younger people. Also, the older you are, the greater the likelihood that you will be denied coverage. Another consideration you should investigate before buying a policy is the rating and stability of the insurance company: will they be around in 20 or 30 years when you need the coverage? While there is no guarantee, you may want to consider a carrier rated highly by Standard & Poor’s, A.M Best or Weiss Ratings.
Healthcare, especially long-term healthcare costs, should be an integral part of your financial plan. What insurance coverage you want, what lifestyle independence levels makes sense, whom you can rely on to help, and what you can afford—all these pieces need to be fitted together into your broader-based investment, retirement and estate planning needs.
The wisest solution is to consult your trusted advisors to help you structure a comprehensive strategy for your longevity. Ask Mr Long Term Care is a Long-Term Care specialist. He is well informed on the changes in plans as well as government changes. The industry is changing and you need an expert to help see if this is something that fits well in your own financial plan.
Dane A. Petchul CLTC, LTCP is a specialist in Long-Term care planning and Long-Term Care insurance. He can be reached at 949-854-3001 or 1-877-GO-4-LTCi or send an email to dane@LongTermCareInsurancePros.com
Visit LongTermCareInsurancePros On this site you can ask a question, get a quote or join a free teleseminar to get all of your questions answered.
While various forms of insurance typically cover routine doctor visits and emergency medical situations sufficiently, coverage for ongoing long-term healthcare needs is often limited and restricted. And, paying for long-term care needs can quickly deplete even substantial savings.
Long-term care: Not just for the elderly
This year, about 9 million Americans over the age 65 will need some form of long-term care, and that number will reach 12 million by 2020. Typically, the majority of people who require long-term care are over the age of 65. But a substantial 40 percent of those requiring long-term care are between the ages of 18 and 64.
Consequently, everyone should have reasonable provisions for healthcare financing in place.
Long-term care covers a range of services and supports, both medical and personal, to help individuals over an extended time with a chronic illness or disability (including cognitive impairments such as memory loss, confusion, or disorientation).
The bulk of long-term care involves non-skilled personal assistance with performing “activities of daily living” (ADLs), such as bathing, dressing, toileting, getting around the house, and eating.
Another category of assistance, “instrumental activities of daily living” (IADLs) includes preparing meals, shopping, bill paying and managing money, cleaning and other household chores, using the telephone or computer, and taking medication. Much of long-term care can be provided in your own home. You can have help come to you for the assistance you need and still be living in the comfort of your own home.
According to the U.S. Census Bureau, the chances of needing long-term care are higher for women:
However, one in five will need this care for more than five years. Long-term care needs often develop gradually and may include: home care from nurses, aides, therapists; community-based services; and care in a variety of long-term facilities.
Assistance from family, friends, and community
Perhaps the most important aspect of what you will want from long-term care is the ability to continue an active lifestyle with the greatest degree of independence as possible. While paid services can be extensive and partly or wholly covered by your insurance, most people also rely on help from family, friends, and community.
Case managers, typically nurses or social workers, can assist you and your family in designing a practical regimen for long-term care needs.
The trend today is to help older people stay within the community, preferably living at home (or in a family member’s home). Many communities offer adult day service programs, volunteer visitor/companion services, meal programs, transportation services, senior centers, and respite care—to give family members necessary relief to avoid caregiver “burn-out.”
Home care may also include emergency response systems, and great advances in technology can now help family members monitor an older person’s daily regimen while preserving a high degree of independence.
Assisted living housing, nursing homes, hospice programs
Generally, there is a movement away from broad-based reliance on nursing homes if possible. This may include adult foster care homes, which provide room and board, 24-hour availability, help managing medications, and assistance with ADLs.
Unlike skilled nursing homes, which are highly regulated and licensed by state governments, adult foster care homes and their licensing requirements vary greatly from state to state.
Assisted living facilities help people who need some level of care but not as much as they would receive at a nursing home. Residents often have their own apartments or rooms, but also receive support services—daily meals, assistance with personal care, help with medications, housekeeping and laundry, 24-hour security, on-site staff for emergencies, and social programs.
Costs vary widely, and the requirements of these regulated facilities vary from state to state.
Families often turn to nursing homes for round-the-clock care when it is no longer possible to care safely or cost-effectively for a person at home. The majority of nursing home stays are for less than a year, with 30 percent being less than three months. However, 20 percent of nursing home stays are for more than five years.
Hospice programs, generally, help patients and families cope with terminal illness. Many patients are reluctant to use these programs because they are required to forgo advanced medical treatments in order to qualify.
However, some hospices and private health insurers now allow more extensive medical treatment. The combination of services has already shown encouraging, life-prolonging results.
Long-term care insurance
The costs for prolonged long-term care can be high. Frequently, Medicaid covers long-term nursing home residents; but you usually have to “spend down” your available assets (generally to $2,000) before you are eligible. Long-term care insurance can protect you financially in worst-case scenarios, and help you avoid the depletion of your estate.
However, insurance for those worst-case scenarios is expensive, and only a small number of policyholders need that much coverage. You may prefer a more modest policy that will cushion part of the financial drain.
These insurance policies typically cost less for younger people. Also, the older you are, the greater the likelihood that you will be denied coverage. Another consideration you should investigate before buying a policy is the rating and stability of the insurance company: will they be around in 20 or 30 years when you need the coverage? While there is no guarantee, you may want to consider a carrier rated highly by Standard & Poor’s, A.M Best or Weiss Ratings.
Healthcare, especially long-term healthcare costs, should be an integral part of your financial plan. What insurance coverage you want, what lifestyle independence levels makes sense, whom you can rely on to help, and what you can afford—all these pieces need to be fitted together into your broader-based investment, retirement and estate planning needs.
The wisest solution is to consult your trusted advisors to help you structure a comprehensive strategy for your longevity. Ask Mr Long Term Care is a Long-Term Care specialist. He is well informed on the changes in plans as well as government changes. The industry is changing and you need an expert to help see if this is something that fits well in your own financial plan.
Dane A. Petchul CLTC, LTCP is a specialist in Long-Term care planning and Long-Term Care insurance. He can be reached at 949-854-3001 or 1-877-GO-4-LTCi or send an email to dane@LongTermCareInsurancePros.com
Visit LongTermCareInsurancePros On this site you can ask a question, get a quote or join a free teleseminar to get all of your questions answered.
Monday, August 20, 2007
Taking Care of the Caregiver
The role of a caregiver can be extremely rewarding and fulfilling. However, caring for a loved one with serious health issues can be a full-time job – a long-term commitment that many caregivers find themselves thrown into unexpectedly.
Caregivers may find themselves unprepared for the demands that will be made on them emotionally, physically, financially and socially. All too often a caregiver’s own health and emotional needs take a back seat to the needs of the loved one they are caring for – leading to feelings of being overwhelmed, stressed and burned out. These signs are potential indicators that a caregiver is approaching burnout:
Caregivers may find themselves unprepared for the demands that will be made on them emotionally, physically, financially and socially. All too often a caregiver’s own health and emotional needs take a back seat to the needs of the loved one they are caring for – leading to feelings of being overwhelmed, stressed and burned out. These signs are potential indicators that a caregiver is approaching burnout:
aDenial about the situation and its effect on the care recipient.
aAnger at the care recipient or others;that there is no cure; that others don't understand.
a Social withdrawal from family and friends and pleasurable activities.
aAnxiety about facing another day; about facing the future.
aDepression that affects the ability to cope and begins to break the spirit.
aExhaustion that makes it nearly impossible to complete daily tasks.
aSleeplessness brought on by a never-ending list of concerns.
aIrritability that triggers negative responses and moodiness.
aLack of concentration that make it difficult to perform familiar task.
aHealth problems that take a toll mentally and physically.
Here are some tips to prevent stress and burnout:
aCall upon others for support and help.
aSet realistic goals for yourself.
Don’t feel guilty if you can’t do everything on your own. Respite care is a good way to get a break from constant caregiving. Use professional respite care services or ask a friend or family member to fill in for you.
Care for yourself as a priority! Eat a healthy diet, try to get enough sleep and find time to exercise. Regular exercise helps reduce stress. See your doctor about symptoms of illness or depression. Get counseling if needed.
Social activities help you feel connected. Stay in touch with friends.
Find resources in the community to help make your job easier, such as adult day services, home health care, homemaking/chore services, meals and transportation.
Find a support group for caregivers. Support groups can offer valuable advice and help you to understand that what you are feeling is normal.
Visit LongTermCareInsurancePros
Just call 949-854-3001 or 866-GO-4-LTCi to get your questions answered immediately
Tuesday, August 14, 2007
Are you or do you know a Young Grandparent? 60 is the new 40...
In 1978, when National Grandparents Day was proclaimed, today's grandparents were quite young and very few of those thirty and forty somethings were planning for Long-Term care insurance. They were just too young!
Today we are all living longer, 60 is really 40; 80 is 60; 63 year-olds are having babies and their retirement and LTC insurance needs are much different.
When shopping for LTC the three benefit choices are, skilled care, intermediate care and custodial care. look for policies that pay for all three categories including care by non- professionals, such as family members or friends in your home.
Do not shop price alone because the cheap no-name company you don't recognize today won't be around to service your needs when you are older and need the benefits most.
As a Long-Term Care insurance specialist, I suggest...
>>>Pick a company that is tough on underwriting so you can be placed in a risk pool with people as healthy as you.
>>>Don't pay extra for caregiver training, ambulance rides, home modification or respite care.
>>>Look for strong benefits for home care, assisted living and residential care facilities.
>>>If affordability is an issue, buy a policy with a lower lifetime maximum. It is better to have all your claims paid at 100% when you really need the care, than make a little payment forever that never improves your health or your lifestyle.
We cannot predict the future, but we could eventually need some kind of long-term care. The cost of receiving these services can jeopardize not only our lifestyles and our families lifestyles but also the financial security we’ve spent our lifetime establishing.
Simplify your knowledge of Long-Term care with LongTermCareInsurancePros.
Long-Term Care insurance is What we Do!
Visit http://www.LongTermCareInsurancePros.com/ for additional information or for a free no hassle or obligation quote
Click here
Thursday, August 9, 2007
Prepare for the Unthinkable: Long-Term Care
If it can happen to Superman, it can happen to you. More than 12 million Americans need long-term care, and almost 5 million of those are working-age adults.
Here's how to prepare for the worst.
I'll bet you're not considering the prospect that you might need nursing home or skilled home health care. But the unthinkable can happen. Just ask Superman -- actor Christopher Reeve. Reeve was paralyzed in a 1995 horse-riding accident, joined millions of Americans who require nursing care at home or who now reside in nursing facilities.
You insure your home against fire and your car against an accident -- and never complain if that money is wasted. Why not insure against one of the most expensive realities of life -- long-term care? As our lives lengthen and new treatments are developed, you -- or your parents -- are more likely to require some type of care with your advancing years.
With a little planning, you can buy long-term care insurance -- either for yourself, or as an annual gift for your now-healthy parents. Without a long-term care plan in place, you may become one of the 7 million Americans who, according to the National Council on the Aging, now provide or manage care for a friend or relative aged 55 or older and not living with them.
Long-term care insurance is a product that catches the attention of seniors, but the ideal time to buy it is actually when you're in your early 50s and in good health. At that point, premium costs are lower, and you're less likely to have a pre-existing condition that disqualifies you. But a society that values a youthful appearance seems unwilling to recognize these expensive facts of life.
The costs of long-term care are staggering today and should soar higher in the coming years when baby boomers retire. Even the GenXers won't escape the impact. Your parents will either spend your inheritance on nursing home care, or you may find yourself taking care of your elderly parents out of your own retirement funds.
The average annual cost of a private nursing home is now about $74,000, or $200 per day. Those costs can add up quickly, and Medicare does NOT cover them -- except for a few days in a skilled nursing facility after a hospital stay.
And no Medicare supplement policy covers custodial nursing care. Yes, state Medicaid programs cover nursing care for the indigent -- but that means almost all assets and income must be spent down before the state will pick up the tab.
Medicaid spend-down planning has received attention as a way to deal with the nursing-care costs. Financial advisers counsel seniors to transfer assets to younger family members -- a process that must be completed at least three to five years before asking Medicaid to pay nursing home costs. But these state nursing home programs for the impoverished do not cover home-health-care costs. So, with Medicaid the only option is to be in a nursing home.
Isn't it everyone's goal to stay at home as long as possible where you are most comfortable.
Long-term care insurance can solve the problem in most cases. The latest generation of policies pays for "home care" at a senior daycare facility, as well as care in a skilled or custodial nursing facility. A portion of premiums may be tax-deductible, depending on your age and income. But not all policies are alike, the business is growing. Coverages are constantly evolving, so study both the product and the pricing. It is important to get to design a plan with a Long-Term care specialist, one that keeps up with the changing marketplace.
Nuts and bolts
If you're thinking about buying long-term care insurance, here's what you should know before you buy.
The cost of a long-term care policy depends primarily on three basic factors: your current age, your current state of health, and the location of your residence. Unless you move, you can't control any of these. But you can control such questions as the amount and length of coverage, the elimination period (deductible), and whether you've chosen an inflation rider.
Buying early pays. A healthy 50-year-old could purchase more than adequate coverage for $1,365 a year. For a 73-year-old, the same policy might cost $6,300 a year. This four-year coverage would include a 90-day deductible or elimination period, $200 per day in coverage (for home health care or nursing home care), and a simple inflation rider -- all on a policy from a top-rated company. Premiums double approximately every 5 years.
Good health now pays off later. Once you've locked in an annual premium, it can't be raised if your health changes. But insurance companies can ask state regulators to raise premiums for an entire age group, depending on claims experience. Unfortunately, many companies have raised premiums in recent years, once they realized they under priced their policies.
While some insurers require a medical examination, most just ask for a medical reference. However, any false claims could result in future denial of coverage.
Where you live affects costs. That's because nursing costs typically are higher in major metropolitan areas than in smaller communities.
Length of coverage: The average stay in a nursing facility is 2.5 years, so some people opt to limit coverage length to cut costs. But if you're purchasing a policy in your mid-50s, you'll find that lifetime coverage is not much more expensive.
Elimination period: This is like a deductible and works like one. You agree to pay for the first 60 days or 90 days of needed care; then the policy kicks in. Having a 90-day deductible can cut premium costs substantially.
Inflation rider: Even a 3% inflation rate can cut the value of your dollar in half in 25 years. Plus, assume health-care costs will rise more than the general inflation rate as boomers age. So it may pay to buy an inflation rider. All tax-qualified policies today (see below) must offer this coverage as an option.
Other issues
Benefit payments and triggers: A qualified physician must certify to the insurance company that you need the benefits -- and those benefits will be paid only to qualified caregivers.
Most policies require the inability to perform at least two activities of daily living to trigger the benefits. The activities include being able to dress yourself, bathe yourself, move from a bed to a chair, use toilet facilities or eat unassisted. Policies will also pay out if you can't pass certain mental function tests. (Look for a policy that specifically includes coverage for mental or cognitive impairment.) Most policies no longer require a hospitalization before benefits start, but check the wording anyway.
Insurance companies may pay benefits using one of two methods:
Expense-incurred benefits: These are paid either to you or to your provider up to the limits in your policy.
A daily benefit or indemnity: This will be paid directly to you. But be sure your policy offers a pool of benefits on a daily or weekly basis allowing you to pay for covered services as needed, as well as nursing home care.
Tax-deductibility: You may be able to deduct part of your annual premium as part of a medical deduction. But remember, you can only deduct medical expenses that exceed 7.5% of adjusted gross income. The size of a deduction depends on age. People over age 61 can deduct $2,510 (assuming they meet the 7.5% threshold). Almost all policies sold before Jan. 1, 1997 were grandfathered and are considered qualified. Benefits paid by a qualified policy aren't generally considered taxable income -- even if your employer paid the premiums. .
Where to look for more information:
An independent agent, one who is a Long-term care insurance specialist is the best place to go to get a long-term care insurance plan that is designed for your own specific needs, lifestyle and affordability. You can visit LongTermCareInsurancePros for more information, you can down download a free e-book "Solving the Long-Term care Puzzle"
Make sure you've purchased from a company with a strong financial base, and a 10-year history with this insurance, so it will price policies properly and be there when you need it. A number of companies jumped into long-term care insurance without adequate data on which to base prices.
Alternative coverage:
A number of companies are marketing a combination of life insurance and long-term care coverage that lets you withdraw some of the death benefits (not the cash value) to give guaranteed long-term care coverage. Golden Rule Insurances Asset-Care plan requires a single premium, one-time deposit of cash into a policy. The company will either guarantee a minimum rate of interest or offer a variable choice of investments inside the life policy. It provides at least 50 months of long-term care benefits. You can buy extended coverage. The downsides of the policy: it's expensive, and some people don't have the cash to make the upfront deposit.
The need for long-term care can occur at any time of life. Of the 12 million Americans who need long-term care, nearly 5 million are working age adults. If something happened to you -- or your parents -- how would you cover the cost? Don't say you'd just leave it to the government. Instead, take a minute to stop by a nearby nursing home. You would certainly bring some cheer to the patients there. And you'll gain new respect for those who provide care. And, I hope, you'll be inspired to do some planning now, before the need arises.
After all, that's what insurance is all about.
For a free, no obligation, no pressure quote, call 866-GO-4-LTCi (866-464-5824)
or 949-854-3001 or visit http://www.LongTermCareInsurancePros.com/
Here's how to prepare for the worst.
I'll bet you're not considering the prospect that you might need nursing home or skilled home health care. But the unthinkable can happen. Just ask Superman -- actor Christopher Reeve. Reeve was paralyzed in a 1995 horse-riding accident, joined millions of Americans who require nursing care at home or who now reside in nursing facilities.
You insure your home against fire and your car against an accident -- and never complain if that money is wasted. Why not insure against one of the most expensive realities of life -- long-term care? As our lives lengthen and new treatments are developed, you -- or your parents -- are more likely to require some type of care with your advancing years.
With a little planning, you can buy long-term care insurance -- either for yourself, or as an annual gift for your now-healthy parents. Without a long-term care plan in place, you may become one of the 7 million Americans who, according to the National Council on the Aging, now provide or manage care for a friend or relative aged 55 or older and not living with them.
Long-term care insurance is a product that catches the attention of seniors, but the ideal time to buy it is actually when you're in your early 50s and in good health. At that point, premium costs are lower, and you're less likely to have a pre-existing condition that disqualifies you. But a society that values a youthful appearance seems unwilling to recognize these expensive facts of life.
The costs of long-term care are staggering today and should soar higher in the coming years when baby boomers retire. Even the GenXers won't escape the impact. Your parents will either spend your inheritance on nursing home care, or you may find yourself taking care of your elderly parents out of your own retirement funds.
The average annual cost of a private nursing home is now about $74,000, or $200 per day. Those costs can add up quickly, and Medicare does NOT cover them -- except for a few days in a skilled nursing facility after a hospital stay.
And no Medicare supplement policy covers custodial nursing care. Yes, state Medicaid programs cover nursing care for the indigent -- but that means almost all assets and income must be spent down before the state will pick up the tab.
Medicaid spend-down planning has received attention as a way to deal with the nursing-care costs. Financial advisers counsel seniors to transfer assets to younger family members -- a process that must be completed at least three to five years before asking Medicaid to pay nursing home costs. But these state nursing home programs for the impoverished do not cover home-health-care costs. So, with Medicaid the only option is to be in a nursing home.
Isn't it everyone's goal to stay at home as long as possible where you are most comfortable.
Long-term care insurance can solve the problem in most cases. The latest generation of policies pays for "home care" at a senior daycare facility, as well as care in a skilled or custodial nursing facility. A portion of premiums may be tax-deductible, depending on your age and income. But not all policies are alike, the business is growing. Coverages are constantly evolving, so study both the product and the pricing. It is important to get to design a plan with a Long-Term care specialist, one that keeps up with the changing marketplace.
Nuts and bolts
If you're thinking about buying long-term care insurance, here's what you should know before you buy.
The cost of a long-term care policy depends primarily on three basic factors: your current age, your current state of health, and the location of your residence. Unless you move, you can't control any of these. But you can control such questions as the amount and length of coverage, the elimination period (deductible), and whether you've chosen an inflation rider.
Buying early pays. A healthy 50-year-old could purchase more than adequate coverage for $1,365 a year. For a 73-year-old, the same policy might cost $6,300 a year. This four-year coverage would include a 90-day deductible or elimination period, $200 per day in coverage (for home health care or nursing home care), and a simple inflation rider -- all on a policy from a top-rated company. Premiums double approximately every 5 years.
Good health now pays off later. Once you've locked in an annual premium, it can't be raised if your health changes. But insurance companies can ask state regulators to raise premiums for an entire age group, depending on claims experience. Unfortunately, many companies have raised premiums in recent years, once they realized they under priced their policies.
While some insurers require a medical examination, most just ask for a medical reference. However, any false claims could result in future denial of coverage.
Where you live affects costs. That's because nursing costs typically are higher in major metropolitan areas than in smaller communities.
Length of coverage: The average stay in a nursing facility is 2.5 years, so some people opt to limit coverage length to cut costs. But if you're purchasing a policy in your mid-50s, you'll find that lifetime coverage is not much more expensive.
Elimination period: This is like a deductible and works like one. You agree to pay for the first 60 days or 90 days of needed care; then the policy kicks in. Having a 90-day deductible can cut premium costs substantially.
Inflation rider: Even a 3% inflation rate can cut the value of your dollar in half in 25 years. Plus, assume health-care costs will rise more than the general inflation rate as boomers age. So it may pay to buy an inflation rider. All tax-qualified policies today (see below) must offer this coverage as an option.
Other issues
Benefit payments and triggers: A qualified physician must certify to the insurance company that you need the benefits -- and those benefits will be paid only to qualified caregivers.
Most policies require the inability to perform at least two activities of daily living to trigger the benefits. The activities include being able to dress yourself, bathe yourself, move from a bed to a chair, use toilet facilities or eat unassisted. Policies will also pay out if you can't pass certain mental function tests. (Look for a policy that specifically includes coverage for mental or cognitive impairment.) Most policies no longer require a hospitalization before benefits start, but check the wording anyway.
Insurance companies may pay benefits using one of two methods:
Expense-incurred benefits: These are paid either to you or to your provider up to the limits in your policy.
A daily benefit or indemnity: This will be paid directly to you. But be sure your policy offers a pool of benefits on a daily or weekly basis allowing you to pay for covered services as needed, as well as nursing home care.
Tax-deductibility: You may be able to deduct part of your annual premium as part of a medical deduction. But remember, you can only deduct medical expenses that exceed 7.5% of adjusted gross income. The size of a deduction depends on age. People over age 61 can deduct $2,510 (assuming they meet the 7.5% threshold). Almost all policies sold before Jan. 1, 1997 were grandfathered and are considered qualified. Benefits paid by a qualified policy aren't generally considered taxable income -- even if your employer paid the premiums. .
Where to look for more information:
An independent agent, one who is a Long-term care insurance specialist is the best place to go to get a long-term care insurance plan that is designed for your own specific needs, lifestyle and affordability. You can visit LongTermCareInsurancePros for more information, you can down download a free e-book "Solving the Long-Term care Puzzle"
Make sure you've purchased from a company with a strong financial base, and a 10-year history with this insurance, so it will price policies properly and be there when you need it. A number of companies jumped into long-term care insurance without adequate data on which to base prices.
Alternative coverage:
A number of companies are marketing a combination of life insurance and long-term care coverage that lets you withdraw some of the death benefits (not the cash value) to give guaranteed long-term care coverage. Golden Rule Insurances Asset-Care plan requires a single premium, one-time deposit of cash into a policy. The company will either guarantee a minimum rate of interest or offer a variable choice of investments inside the life policy. It provides at least 50 months of long-term care benefits. You can buy extended coverage. The downsides of the policy: it's expensive, and some people don't have the cash to make the upfront deposit.
The need for long-term care can occur at any time of life. Of the 12 million Americans who need long-term care, nearly 5 million are working age adults. If something happened to you -- or your parents -- how would you cover the cost? Don't say you'd just leave it to the government. Instead, take a minute to stop by a nearby nursing home. You would certainly bring some cheer to the patients there. And you'll gain new respect for those who provide care. And, I hope, you'll be inspired to do some planning now, before the need arises.
After all, that's what insurance is all about.
For a free, no obligation, no pressure quote, call 866-GO-4-LTCi (866-464-5824)
or 949-854-3001 or visit http://www.LongTermCareInsurancePros.com/
Monday, August 6, 2007
Long-Term Care Insurance Company Update
John Hancock Life Insurance Company has introduced a new guaranteed increase option (GIO) to its Leading Edge long term care insurance policy. This innovative option provides clients who have automatic inflation coverage the opportunity every three years to increase their current policy benefit amount by 10 percent without underwriting. The option remains available, regardless of how many times a client declines the offer.
"Leading Edge was designed to fit in with the lives of younger, Baby Boomer buyers," said Laura Moore, senior vice president, John Hancock Long Term Care Insurance. "The new GIO option is valuable to them because, later in their lives when they no longer are worrying about the mortgage, college for their kids and helping to care for their parents, they can increase their coverage for any reason," said Moore. "We see this being particularly helpful if policyholders decide to retire to an area where the cost of care is higher than originally anticipated."
The GIO option will be available to existing as well as future Leading Edge policyholders. There is no cost to the benefit unless an increase is elected. If the benefit amount is increased, the policyholder's premium for the increase will be based on current age, original risk category and premium rates in effect on the option date. "While our clients may never choose to exercise the option, they and their advisors can rest assured knowing they will have it available to them every three years," said Moore.
Leading Edge was created with Baby Boomers, who often have competing financial priorities and limited budgets, in mind. Traditionally, inflation protection and longer benefit periods such as "lifetime" coverage were two of the biggest contributors toward higher costs. In Leading Edge, Hancock has simplified and reduced the cost of inflation coverage - with built-in, compound inflation protection linked to the Consumer Price Index (CPI). Every year on the policy anniversary, a policy owner's benefit and total pool of money is automatically adjusted according to the CPI, which has a strong association with housing and labor costs, two of the key drivers of long term care costs today and in the future.
For immediate answers to your questions or for a quote,
Just call 1-866 GO-4-LTCi (464-5824) or Visit our website at http://www.longtermcareinsurancepros.com/
"Leading Edge was designed to fit in with the lives of younger, Baby Boomer buyers," said Laura Moore, senior vice president, John Hancock Long Term Care Insurance. "The new GIO option is valuable to them because, later in their lives when they no longer are worrying about the mortgage, college for their kids and helping to care for their parents, they can increase their coverage for any reason," said Moore. "We see this being particularly helpful if policyholders decide to retire to an area where the cost of care is higher than originally anticipated."
The GIO option will be available to existing as well as future Leading Edge policyholders. There is no cost to the benefit unless an increase is elected. If the benefit amount is increased, the policyholder's premium for the increase will be based on current age, original risk category and premium rates in effect on the option date. "While our clients may never choose to exercise the option, they and their advisors can rest assured knowing they will have it available to them every three years," said Moore.
Leading Edge was created with Baby Boomers, who often have competing financial priorities and limited budgets, in mind. Traditionally, inflation protection and longer benefit periods such as "lifetime" coverage were two of the biggest contributors toward higher costs. In Leading Edge, Hancock has simplified and reduced the cost of inflation coverage - with built-in, compound inflation protection linked to the Consumer Price Index (CPI). Every year on the policy anniversary, a policy owner's benefit and total pool of money is automatically adjusted according to the CPI, which has a strong association with housing and labor costs, two of the key drivers of long term care costs today and in the future.
For immediate answers to your questions or for a quote,
Just call 1-866 GO-4-LTCi (464-5824) or Visit our website at http://www.longtermcareinsurancepros.com/
John Hancock Life Insurance Company has introduced a new guaranteed increase option (GIO) to its Leading Edge long term care insurance policy. This innovative option provides clients who have automatic inflation coverage the opportunity every three years to increase their current policy benefit amount by 10 percent without underwriting. The option remains available, regardless of how many times a client declines the offer.
"Leading Edge was designed to fit in with the lives of younger, Baby Boomer buyers," said Laura Moore, senior vice president, John Hancock Long Term Care Insurance. "The new GIO option is valuable to them because, later in their lives when they no longer are worrying about the mortgage, college for their kids and helping to care for their parents, they can increase their coverage for any reason," said Moore. "We see this being particularly helpful if policyholders decide to retire to an area where the cost of care is higher than originally anticipated."
The GIO option will be available to existing as well as future Leading Edge policyholders. There is no cost to the benefit unless an increase is elected. If the benefit amount is increased, the policyholder's premium for the increase will be based on current age, original risk category and premium rates in effect on the option date. "While our clients may never choose to exercise the option, they and their advisors can rest assured knowing they will have it available to them every three years," said Moore.
Leading Edge was created with Baby Boomers, who often have competing financial priorities and limited budgets, in mind. Traditionally, inflation protection and longer benefit periods such as "lifetime" coverage were two of the biggest contributors toward higher costs. In Leading Edge, Hancock has simplified and reduced the cost of inflation coverage - with built-in, compound inflation protection linked to the Consumer Price Index (CPI). Every year on the policy anniversary, a policy owner's benefit and total pool of money is automatically adjusted according to the CPI, which has a strong association with housing and labor costs, two of the key drivers of long term care costs today and in the future.
Get your questions answered at LongTermCareInsurancePros
"Leading Edge was designed to fit in with the lives of younger, Baby Boomer buyers," said Laura Moore, senior vice president, John Hancock Long Term Care Insurance. "The new GIO option is valuable to them because, later in their lives when they no longer are worrying about the mortgage, college for their kids and helping to care for their parents, they can increase their coverage for any reason," said Moore. "We see this being particularly helpful if policyholders decide to retire to an area where the cost of care is higher than originally anticipated."
The GIO option will be available to existing as well as future Leading Edge policyholders. There is no cost to the benefit unless an increase is elected. If the benefit amount is increased, the policyholder's premium for the increase will be based on current age, original risk category and premium rates in effect on the option date. "While our clients may never choose to exercise the option, they and their advisors can rest assured knowing they will have it available to them every three years," said Moore.
Leading Edge was created with Baby Boomers, who often have competing financial priorities and limited budgets, in mind. Traditionally, inflation protection and longer benefit periods such as "lifetime" coverage were two of the biggest contributors toward higher costs. In Leading Edge, Hancock has simplified and reduced the cost of inflation coverage - with built-in, compound inflation protection linked to the Consumer Price Index (CPI). Every year on the policy anniversary, a policy owner's benefit and total pool of money is automatically adjusted according to the CPI, which has a strong association with housing and labor costs, two of the key drivers of long term care costs today and in the future.
Get your questions answered at LongTermCareInsurancePros
Tuesday, July 24, 2007
A New Approach to Funding Long-Term Care
A New Approach to Funding Long-Term Care
Today, people are living longer than ever. Whether it’s due to increased health consciousness or ongoing medical advances, the reality is that life expectancies continue to extend. This means that we can enthusiastically and energetically enjoy our retirement—often several decades’ worth.
Maintaining financial solvency for this extended life span is an increasing challenge, especially if constant or prolonged care is required. Statistics indicate that more than half of all people who reach age 85 need some form of care. This would suggest that if a married couple lives into their mid-80’s one spouse or the other will most likely require care.
This care does not come cheaply. Today, long-term care—that which is associated with the activities of daily living such as eating, bathing, and dressing, or the supervision of someone with Alzheimer’s—can easily climb over $70,000 per year. One common misconception many clients have is that Medicare will cover this cost. It does not. Medicaid may cover such costs, but recipients must meet strict income eligibility criteria and are restricted to Medicaid-approved services and facilities. Funding long-term care with savings alone can quickly deplete retirement assets.
Long-Term Care insurance
Retirement dreams and a lifetime of savings could be significantly eroded when financing long-term care. Protecting retirement funds is one of the foremost benefits of long-term care insurance (LTCi). But this type of protection can be cost prohibitive.
Usually, the younger your client is when the purchase a policy, the lower the monthly premium payment is. But even if they buy LTCi 25 years before they need it, the coverage can be costly. Since no on can predict for certain if they will ever need daily assistance, you may find many clients shy away from buying LTCi policies, fearing they might pay in for decades and never actually put their coverage to work for them. In a recent survey, nearly six out of 10 participants said that prohibitive cost was a major reason shy they did not have a long-term care policy. Unfortunately, with a stand-along LTCi policy, if you don’t use it, you lose it.
LTCi Alternative
To meet the increasing demand for long-term care funding and to circumvent the hesitation caused by “use-it-or-lose-it” stand-along LTCi policies, a few life insurers not offer riders that attach to permanent life insurance contracts. These riders—typically called long-term care or “living care” riders—accelerate the policy’s death benefit, creating funds to pay qualified long-term care expenses resulting from chronic illness. In essence, the rider affords the policyholder a safety net should they ever need care, without the price tag of a traditional LTCi policy.
How it works
The concept is simple and practical. Your client chooses the face amount of life insurance they need when they apply for a permanent policy. At this time, they also choose a maximum monthly amount for long-term care benefits—usually up to a maximum of 3 percent of the policy face amount. If, at some point in the future, they begin collecting long-term care benefits, each payment reduces their policy’s death benefit. If, however, they never collect long-term care benefits, their policy’s death benefit is not reduced. If they only use part of the death benefit, the remainder passes to their beneficiaries at the time of the policyholder’s death.The cost of long-term care is already high, but it is going to get even higher. As the baby boomers age, total spending on full-service care is expected to more than triple over the next 25 years. Helping your clients ensure they have a funding option in place—just in case—may be the difference between their financial independence and poverty.
Long-term care riders for chronic illness that are attached to a permanent life insurance policy allow a single policy to potentially meet two protection needs. The policyholder pays a fee for the ability to accelerate their death benefit, but it can be far less than the cost of stand-alone LTCi premiums that may go to waste if they never need care. It is important to note that the face amount accelerated for LTC expenses is not available upon the death of the insured. These riders may not cover all cost associated with long-term care, but they will help lessen the financial burden, helping to protect retirement funds and lifestyle.
For your clients who are concerned about possibly needing future long-term care for themselves, their parents, or a spouse, a permanent life insurance policy plus a long-term care rider may offer an affordable strategy.
For more information visit: http://www.LongTermCareInsurancePros.com
Or Call 949-854-3001 or 1-866-GO-4-LTCi (Toll Free)
Today, people are living longer than ever. Whether it’s due to increased health consciousness or ongoing medical advances, the reality is that life expectancies continue to extend. This means that we can enthusiastically and energetically enjoy our retirement—often several decades’ worth.
Maintaining financial solvency for this extended life span is an increasing challenge, especially if constant or prolonged care is required. Statistics indicate that more than half of all people who reach age 85 need some form of care. This would suggest that if a married couple lives into their mid-80’s one spouse or the other will most likely require care.
This care does not come cheaply. Today, long-term care—that which is associated with the activities of daily living such as eating, bathing, and dressing, or the supervision of someone with Alzheimer’s—can easily climb over $70,000 per year. One common misconception many clients have is that Medicare will cover this cost. It does not. Medicaid may cover such costs, but recipients must meet strict income eligibility criteria and are restricted to Medicaid-approved services and facilities. Funding long-term care with savings alone can quickly deplete retirement assets.
Long-Term Care insurance
Retirement dreams and a lifetime of savings could be significantly eroded when financing long-term care. Protecting retirement funds is one of the foremost benefits of long-term care insurance (LTCi). But this type of protection can be cost prohibitive.
Usually, the younger your client is when the purchase a policy, the lower the monthly premium payment is. But even if they buy LTCi 25 years before they need it, the coverage can be costly. Since no on can predict for certain if they will ever need daily assistance, you may find many clients shy away from buying LTCi policies, fearing they might pay in for decades and never actually put their coverage to work for them. In a recent survey, nearly six out of 10 participants said that prohibitive cost was a major reason shy they did not have a long-term care policy. Unfortunately, with a stand-along LTCi policy, if you don’t use it, you lose it.
LTCi Alternative
To meet the increasing demand for long-term care funding and to circumvent the hesitation caused by “use-it-or-lose-it” stand-along LTCi policies, a few life insurers not offer riders that attach to permanent life insurance contracts. These riders—typically called long-term care or “living care” riders—accelerate the policy’s death benefit, creating funds to pay qualified long-term care expenses resulting from chronic illness. In essence, the rider affords the policyholder a safety net should they ever need care, without the price tag of a traditional LTCi policy.
How it works
The concept is simple and practical. Your client chooses the face amount of life insurance they need when they apply for a permanent policy. At this time, they also choose a maximum monthly amount for long-term care benefits—usually up to a maximum of 3 percent of the policy face amount. If, at some point in the future, they begin collecting long-term care benefits, each payment reduces their policy’s death benefit. If, however, they never collect long-term care benefits, their policy’s death benefit is not reduced. If they only use part of the death benefit, the remainder passes to their beneficiaries at the time of the policyholder’s death.The cost of long-term care is already high, but it is going to get even higher. As the baby boomers age, total spending on full-service care is expected to more than triple over the next 25 years. Helping your clients ensure they have a funding option in place—just in case—may be the difference between their financial independence and poverty.
Long-term care riders for chronic illness that are attached to a permanent life insurance policy allow a single policy to potentially meet two protection needs. The policyholder pays a fee for the ability to accelerate their death benefit, but it can be far less than the cost of stand-alone LTCi premiums that may go to waste if they never need care. It is important to note that the face amount accelerated for LTC expenses is not available upon the death of the insured. These riders may not cover all cost associated with long-term care, but they will help lessen the financial burden, helping to protect retirement funds and lifestyle.
For your clients who are concerned about possibly needing future long-term care for themselves, their parents, or a spouse, a permanent life insurance policy plus a long-term care rider may offer an affordable strategy.
For more information visit: http://www.LongTermCareInsurancePros.com
Or Call 949-854-3001 or 1-866-GO-4-LTCi (Toll Free)
Monday, July 16, 2007
LTC Quiz: What is your Long-Term Care IQ?
Dane A. Petchul License # OE 49 145
LTC Quiz: What is your Long-Term Care IQ?
How well do you understand the issues regarding long term care?
This short quiz will clear up some common misconceptions.
1. Most long term care is provided in a nursing home. True False
2. The average length of stay in a nursing home is more than five years.
True False
3. Nursing home expenses for Alzheimer's disease patients are covered by Medicare.
True False
4. By shopping around or calling the company directly, you can save money on your Long-Term care insurance premium. True False
5. On average, a one-year stay in a nursing home costs about $35,000. True False
6. People have to spend all or almost all of their assets to receive Medicaid benefits.
True False
7. Nearly 40% of the long term care population is under the age of 65. True False
8. Medicare is the primary funding source for most long term costs.
True False
9. Disability insurance and long term care insurance cover the same type of expenses.
True False
10. Currently, more than 6 million people aged 65 or older need long term care.
True False
11. Most people overestimate the cost of long term care insurance.
True False
Look below for the correct answers.
__________________________________________________________
Answers:
1. The correct answer is False
88% of people who need long term care receive care at home or in a community based setting such as an adult day care center. 12% receive care in a nursing home or other institutional facilities.
2. The correct answer is False
Most nursing home stays are short, recuperative stays. 10% of the total nursing home population faces a stay of five years or more.
3. The correct answer is False
Medicare provides few benefits for long term care services needed by most people with Alzheimer's disease. Medicare provides reimbursement for skilled nursing home care. Medicare pays nothing if the individual requires only custodial care.
4. The correct answer is False
The state regulates the pricing on all insurance plans. The same plan will cost you the same from any agent or company.
5. The correct answer is False
On average, a one-year stay in a nursing home costs about $75,000. This figure can be as high as $110,000 in some regions.
6. The correct answer is True
People have to spend all or almost all of their assets to get Medicaid benefits.
7. The correct answer is True
40% of the people receiving long term care are working-age adults aged 18-65.
8. The correct answer is False
Medicare paid for only 18% of the spending in 1998.
9. The correct answer is False
Disability insurance will not cover most long term care.
10. The correct answer is True
And in fact after the age of 85, half of us will need help with ordinary activities of daily living (like bathing, dressing and eating).
11. The correct answer is True
According to a recent survey, those that do not own long term care insurance overestimated its cost by an average of 50%.
Wednesday, June 27, 2007
A Guide to Caregivers
It's a big, complicated job, and somebody's got to do it.
What you need to know to provide for your loved one.
By Joan Raymond
Newsweek
June 18, 2007 issue - Some 20 million boomers are caring for their families while trying to provide care for aging parents. Few know what they are getting into, says Donna Schempp, program director of the Family Caregiver Alliance, a San Francisco advocacy group. "Caregiving simply happens," says Schempp. "No one really chooses their caregiver. It's almost always a default decision based on who is available." Taking care of a parent can be tough. But there are some extraordinary resources available. The smartest approach is to plan ahead, recognizing that someday you will be a caregiver or someone will be caring for you. Here are some tips to help lighten the load.
Medical Issues
There will come a time when an adult child must make decisions regarding a parent's health care. To ease the way, there are two legal documents that experts say are vital. The first is a health-care proxy. This document, also called a health-care power of attorney, appoints a specific person to make all decisions regarding health care and end-of-life care, including refusal of treatment. The health-care proxy goes into effect when the attending physician determines that an individual is no longer able to make decisions on his or her own.
The second critical document is an advance directive, also known as a living will, which allows the person to state what kind of medical care he wants and which life-support procedures he doesn't want. "One of the greatest gifts an adult child can give to parents is to speak for them when they can't speak for themselves," says Kathy Brandt, vice president of the National Hospice and Palliative Care Organization. According to Brandt, advance directives can be powerful tools alone, but generally carry the most weight when combined with a health-care proxy. "It's kind of an insurance policy that your wishes will be carried out," she says.
It's very important for parents to talk about their spiritual beliefs and values, which may shape their decisions about the procedures they may or may not want at the end of life, says Brandt. One caveat: the laws governing advance directives vary from state to state, so it is important that they make sure their advance directives are state-specific.Another type of advance directive is the Do Not Resuscitate order, or the DNR. Unlike the living will or health-care proxy documents, the patient does not prepare this document. The DNR is a request not to have cardiopulmonary resuscitation if the heart or breathing stops. Though it may be requested by a patient or by a health-care proxy, it is valid only if it is signed by a doctor. A DNR order will then be put into your medical chart. DNRs are accepted in all states.
The second critical document is an advance directive, also known as a living will, which allows the person to state what kind of medical care he wants and which life-support procedures he doesn't want. "One of the greatest gifts an adult child can give to parents is to speak for them when they can't speak for themselves," says Kathy Brandt, vice president of the National Hospice and Palliative Care Organization. According to Brandt, advance directives can be powerful tools alone, but generally carry the most weight when combined with a health-care proxy. "It's kind of an insurance policy that your wishes will be carried out," she says.
It's very important for parents to talk about their spiritual beliefs and values, which may shape their decisions about the procedures they may or may not want at the end of life, says Brandt. One caveat: the laws governing advance directives vary from state to state, so it is important that they make sure their advance directives are state-specific.Another type of advance directive is the Do Not Resuscitate order, or the DNR. Unlike the living will or health-care proxy documents, the patient does not prepare this document. The DNR is a request not to have cardiopulmonary resuscitation if the heart or breathing stops. Though it may be requested by a patient or by a health-care proxy, it is valid only if it is signed by a doctor. A DNR order will then be put into your medical chart. DNRs are accepted in all states.
Thursday, May 24, 2007
Long-Term Care Planning...Big Deal or No Big Deal?
Here’s something to think about: Almost half of people over age 65 will spend some time in a nursing home.
Not only are we more and more likely to require some type of long-term care, but the costs involved in long-term care can be expensive. In fact, the average annual cost involved with a one-year nursing home stay is about $75,190. In many larger cities it can be much more expensive. Unfortunately, none of these expenses are covered by Medicare or Private medical insurance.
Many of us spend thousands of dollars making sure we have things like auto insurance and fire insurance on our homes—and never complain that the money is wasted. The truth is that for every 1,000 people, 5 will have a house fire, 70 will have an auto accident, and roughly 500 will need long-term care.
As obvious as these statistics are, many people are still under the impression that they don’t need to worry about long-term care (LTC) coverage. What’s more, less than 10 percent of those over age 65 have purchased LTC insurance. So, why not insure against one of the most devastating costs of life—Long Term Care?
Fortunately, a record number of “boomers” are beginning to buy long term care insurance. This is most likely due to increased education and the startling statistics we’re seeing. Most of the individuals that come to me for their long- term care insurance needs, do so in order to protect their assets and to insure a choice in the quality of care that they deserve. Of these individuals, the majority that end up needing the care can remain independent, don’t burden family members with constant 24-hour care, and don’t alter their standard of living. For the majority, this is what makes LTC insurance such an obvious choice.
When selecting a policy, it’s important to select a policy that not only you can afford but also meets your needs. There are many insurance policies covering LTC available today. Policies can vary widely in terms of benefits they’ll offer, terms of the contract, and features. Choosing the right policy is not simple. Individuals looking to purchase coverage should consider the following five important factors:
• The insurer’s financial strength rating. You obviously want a solid “A”rated company that’s been around for awhile. They are the most likely to keep your premiums stable and honor your claims without hassle.
• Cost-of-living adjustment (COLA). COLA increases your chosen daily benefit each year in order to keep up with inflation. For example, thedaily benefit amount might increase each year at a compounded orsimple rate of 5%. With the health care costs skyrocketing, this benefitis crucial.
• Home health care and custodial nursing home care. This gives you the option to stay at home and receive care as well as assisted living facilities, and home care, if needed. Most people would prefer to have the option of in home care.
• Qualified policy. Purchase a policy that is “qualified” for tax purposes. Currently both qualified and non-qualified policies are generallyconsidered tax-free. However, the IRS could technically deemnon-qualified benefit payments taxable in the future.
• Guaranteed policy. Is the policy guaranteed for life? Make sure the insurance company can’t cancel your policy due to bad health.While long term care insurance might not be cheap, neither are the costs it covers. For most of us, the solution to all of this is to obtain insurance as early as possiblewhen premiums are lower and before any pre-existing conditions arrive. But what is the solution when seniors are older and coverage is more expensive? While I believe that you should have complete coverage, there are severalways to keep premiums down. To reduce premium costs consider these options:
• Lengthen the elimination period. The elimination period is a lot like a deductible. The longer the elimination period (deductible), the less expensive the insurance will be. However, this means you will have to pay the expenses for the first 30, 60, or 90 days of care. Having a 90-day elimination period can cut premium costs considerably.
• Choose a shorter period of coverage. Instead of choosing lifetime coverage choose a coverage period between three to five years. The savings can be significant and studies show the average length of long term care is approximately 4 years.5
• Choose a lower daily benefit. The average annual cost of private nursing home care is about $200 per day.6 If you chose just $150 per day, you could lower your premiums, if you end upneeding the coverage, you could make up the difference with other forms of income, such as savings and investments.
• Get a joint policy. If you are married, you could get a joint policy that covers both you and your spouse at a discount. Most major companies offer this.
Long-term care insurance is more complex than many other forms of insurance, so I recommend working with a Long-Term care specialist in order to find a suitable plan you’re comfortable with.
Not only are we more and more likely to require some type of long-term care, but the costs involved in long-term care can be expensive. In fact, the average annual cost involved with a one-year nursing home stay is about $75,190. In many larger cities it can be much more expensive. Unfortunately, none of these expenses are covered by Medicare or Private medical insurance.
Many of us spend thousands of dollars making sure we have things like auto insurance and fire insurance on our homes—and never complain that the money is wasted. The truth is that for every 1,000 people, 5 will have a house fire, 70 will have an auto accident, and roughly 500 will need long-term care.
As obvious as these statistics are, many people are still under the impression that they don’t need to worry about long-term care (LTC) coverage. What’s more, less than 10 percent of those over age 65 have purchased LTC insurance. So, why not insure against one of the most devastating costs of life—Long Term Care?
Fortunately, a record number of “boomers” are beginning to buy long term care insurance. This is most likely due to increased education and the startling statistics we’re seeing. Most of the individuals that come to me for their long- term care insurance needs, do so in order to protect their assets and to insure a choice in the quality of care that they deserve. Of these individuals, the majority that end up needing the care can remain independent, don’t burden family members with constant 24-hour care, and don’t alter their standard of living. For the majority, this is what makes LTC insurance such an obvious choice.
When selecting a policy, it’s important to select a policy that not only you can afford but also meets your needs. There are many insurance policies covering LTC available today. Policies can vary widely in terms of benefits they’ll offer, terms of the contract, and features. Choosing the right policy is not simple. Individuals looking to purchase coverage should consider the following five important factors:
• The insurer’s financial strength rating. You obviously want a solid “A”rated company that’s been around for awhile. They are the most likely to keep your premiums stable and honor your claims without hassle.
• Cost-of-living adjustment (COLA). COLA increases your chosen daily benefit each year in order to keep up with inflation. For example, thedaily benefit amount might increase each year at a compounded orsimple rate of 5%. With the health care costs skyrocketing, this benefitis crucial.
• Home health care and custodial nursing home care. This gives you the option to stay at home and receive care as well as assisted living facilities, and home care, if needed. Most people would prefer to have the option of in home care.
• Qualified policy. Purchase a policy that is “qualified” for tax purposes. Currently both qualified and non-qualified policies are generallyconsidered tax-free. However, the IRS could technically deemnon-qualified benefit payments taxable in the future.
• Guaranteed policy. Is the policy guaranteed for life? Make sure the insurance company can’t cancel your policy due to bad health.While long term care insurance might not be cheap, neither are the costs it covers. For most of us, the solution to all of this is to obtain insurance as early as possiblewhen premiums are lower and before any pre-existing conditions arrive. But what is the solution when seniors are older and coverage is more expensive? While I believe that you should have complete coverage, there are severalways to keep premiums down. To reduce premium costs consider these options:
• Lengthen the elimination period. The elimination period is a lot like a deductible. The longer the elimination period (deductible), the less expensive the insurance will be. However, this means you will have to pay the expenses for the first 30, 60, or 90 days of care. Having a 90-day elimination period can cut premium costs considerably.
• Choose a shorter period of coverage. Instead of choosing lifetime coverage choose a coverage period between three to five years. The savings can be significant and studies show the average length of long term care is approximately 4 years.5
• Choose a lower daily benefit. The average annual cost of private nursing home care is about $200 per day.6 If you chose just $150 per day, you could lower your premiums, if you end upneeding the coverage, you could make up the difference with other forms of income, such as savings and investments.
• Get a joint policy. If you are married, you could get a joint policy that covers both you and your spouse at a discount. Most major companies offer this.
Long-term care insurance is more complex than many other forms of insurance, so I recommend working with a Long-Term care specialist in order to find a suitable plan you’re comfortable with.
Get all of your questions answered! We can Help!
Thursday, May 10, 2007
Ten Long-Term Care Insurance Truths
Ten Long-Term Care Insurance Truths
LTCi Supports the Family
1. LTC is about your family, not you. It affects families, not just individuals. This protection provides the dollars so your family can get help for you—preferably at home. LTCi does not replace what families do. Instead, it builds on the family support and allows them to provide the care better and longer.
2. LTCi provides peace of mind to you and your family.
3. LTCi is a gift to your children. These funds enable them to care for an aging parent without overwhelming their lives. How will your planning—or lack thereof—affect your family?
4. LTCi allows you to leave a legacy by protecting your children’s inheritance.
LCTi Can Enhance Your Retirement Plans
5. Long-term care is expensive, so paying for it on your own out of income or assets poses a serious threat to your retirement and financial plans.
6. Get over the denial that this will never happen to you. Please talk to your families and have a plan. The probability of needing LTC is very high. We are now living a long time, increasing the probability of needing care. This may be the largest financial risk Americans face.
7. It’s better to create a plan 10 years too soon than one day too late. And even more significant, the younger you are when you purchase a policy, the less you will pay over the life of the policy.
8. Medicaid reform is here to stay. The message from both federal and state governments is very clear—if you have assets to protect, depending on government welfare programs is not a viable option.
9. LTC costs are high both now and in the future. Think about the cost of care in 20 to 30 years. The purchase of a LTC policy today solves a million-dollar LTCi problem in the future.
Don’t Be Overwhelmed!
10. LTCi can improve quality of life through support programs that promote aging in place. This policy can be considered an ANTI- Nursing home policy. It gives you control, so you can age and receive care in the least restrictive environment possible.
Any Questions? You may reach Dane directly at: 949-854-3001 or email him at dane@LongTermCareInsurancePros.com
Download your FREE Ebook “Solving the Long-Term care Puzzle” visit LongTermCareInsurancePros
To learn more about the risks and costs of LTC and the value of planning ahead, visit http://www.LongTermCareInsurancePros.com
LTCi Supports the Family
1. LTC is about your family, not you. It affects families, not just individuals. This protection provides the dollars so your family can get help for you—preferably at home. LTCi does not replace what families do. Instead, it builds on the family support and allows them to provide the care better and longer.
2. LTCi provides peace of mind to you and your family.
3. LTCi is a gift to your children. These funds enable them to care for an aging parent without overwhelming their lives. How will your planning—or lack thereof—affect your family?
4. LTCi allows you to leave a legacy by protecting your children’s inheritance.
LCTi Can Enhance Your Retirement Plans
5. Long-term care is expensive, so paying for it on your own out of income or assets poses a serious threat to your retirement and financial plans.
6. Get over the denial that this will never happen to you. Please talk to your families and have a plan. The probability of needing LTC is very high. We are now living a long time, increasing the probability of needing care. This may be the largest financial risk Americans face.
7. It’s better to create a plan 10 years too soon than one day too late. And even more significant, the younger you are when you purchase a policy, the less you will pay over the life of the policy.
8. Medicaid reform is here to stay. The message from both federal and state governments is very clear—if you have assets to protect, depending on government welfare programs is not a viable option.
9. LTC costs are high both now and in the future. Think about the cost of care in 20 to 30 years. The purchase of a LTC policy today solves a million-dollar LTCi problem in the future.
Don’t Be Overwhelmed!
10. LTCi can improve quality of life through support programs that promote aging in place. This policy can be considered an ANTI- Nursing home policy. It gives you control, so you can age and receive care in the least restrictive environment possible.
Any Questions? You may reach Dane directly at: 949-854-3001 or email him at dane@LongTermCareInsurancePros.com
Download your FREE Ebook “Solving the Long-Term care Puzzle” visit LongTermCareInsurancePros
To learn more about the risks and costs of LTC and the value of planning ahead, visit http://www.LongTermCareInsurancePros.com
Sunday, May 6, 2007
How to Pick a Long Term Care Insurance Agent: Five Questions to Identify a Real Professional
People seeking long term care insurance should buy it through an independent agent. That's what most experts advise. But there's a problem. "How do you find the right agent?"
Consumers can get frustrated real fast. Looking in the yellow pages or doing an Internet search, may not help come up with the best choice for a Long-Term care insurance specialist.
To help consumers determine if an agent is solid and right for them consumers can ask the following five questions:
1. What insurance products do you offer besides LTC insurance? The aim of this question is to find out if the person's a specialist, selling only or mainly long term care insurance. You don't want someone who divides their attention between LTC, auto and life.
2. What insurance carriers do you represent? You want someone who offers a choice of A-rated companies that offer a range of solid, affordable policies.
3. About how many LTC clients do you have? A seasoned specialist will have dozens to hundreds of satisfied clients.
4. I understand there are tax breaks and other financial ramifications to long term care insurance. Can you advise me on such things? A yes is the best answer here. Well-informed agents know about the relevant regulations, but don't stray into tax law or estate planning details. Instead, they work with knowledgeable financial advisors, accountants, estate planners, and attorneys.
5. How can I learn more about you? The aim of this question is to find evidence of recognized authority. Do they have any professional designations? Can they name local professionals who recommend them? Are they scheduled to speak at an upcoming event? Do they give talks to groups or companies on request? Can they be found on the Internet?"
To learn more about Long-Term Care and Long-Term Care insurance...
Consumers can get frustrated real fast. Looking in the yellow pages or doing an Internet search, may not help come up with the best choice for a Long-Term care insurance specialist.
To help consumers determine if an agent is solid and right for them consumers can ask the following five questions:
1. What insurance products do you offer besides LTC insurance? The aim of this question is to find out if the person's a specialist, selling only or mainly long term care insurance. You don't want someone who divides their attention between LTC, auto and life.
2. What insurance carriers do you represent? You want someone who offers a choice of A-rated companies that offer a range of solid, affordable policies.
3. About how many LTC clients do you have? A seasoned specialist will have dozens to hundreds of satisfied clients.
4. I understand there are tax breaks and other financial ramifications to long term care insurance. Can you advise me on such things? A yes is the best answer here. Well-informed agents know about the relevant regulations, but don't stray into tax law or estate planning details. Instead, they work with knowledgeable financial advisors, accountants, estate planners, and attorneys.
5. How can I learn more about you? The aim of this question is to find evidence of recognized authority. Do they have any professional designations? Can they name local professionals who recommend them? Are they scheduled to speak at an upcoming event? Do they give talks to groups or companies on request? Can they be found on the Internet?"
To learn more about Long-Term Care and Long-Term Care insurance...
Wednesday, May 2, 2007
Long-Term Care Insurance is in the News!
While sorting through the weeks mail, I briefly looked through the Costco Connection. (Costco's combination magazine and catalog).
While flipping it open, I saw an article "Long-Term Care Worth a Look" by Suze Orman. To answer your question, NO Costco is not selling Long-Term care insurance.
They are, however, selling Suze Orman's book which speaks to the need for it. Long-Term care planning is a subject that needs to be addressed as one begins thinking and planning for retirement.
LongTermCareInsurancePros offers a convenient and enjoyable way to get the information necessary to make an educated decision on what is the best plan for your individual and families needs.
I welcome your call at 949-854-3001 or Toll Free 877-GO-4-LTCi (464-5824)
Dane
Thursday, April 26, 2007
Long-Term Care Insurance Helps Keep you at Home
Many people still equate Long-Term care insurance with nursing home coverage. Most of them will tell you a nursing home is the last place they want to be. What they may not realize is that LTC insurance also provides coverage for home health care services that can allow them to remain in their homes.
The home health care features offered through most major LTC insurance policies can help overcome the common objection, "I don't need Long-Term care insurance because I'm never going to a nursing home."
Reasonable people can plan to live a long life. whey they age, they get sick and they they get sick, they need help. It might simply be help with day-to-day activities like cooking, cleaning, and shopping for groceries. They could need skilled care provided by a visiting nurse. Either way, it's important to know that this care can be provided at home and that LTC insurance can help pay for it."
Most major LTC insurance policies pay benefits for covered home health care expenses including the services of a registered nurse, home health aide or therapist, maintenance or personal care services to assist with activities of daily living, homemaker services, such as grocery shopping, meal preparation and housekeeping and adult daycare.
In addition, many LTC insurance products offer a care coordination feature at no extra cost and without a reduction in benefits.
People who say they don't need LTC insurance because they're never going to a nursing home simply need to be educated about how LTC insurance can keep them out of a nursing home.
Most LTC insurance products allow you to tailor a LTC insurance plan to meet a variety of needs.
Our LTC insurance specialists would be happy to help you design a plan to match your individual needs and desires
The home health care features offered through most major LTC insurance policies can help overcome the common objection, "I don't need Long-Term care insurance because I'm never going to a nursing home."
Reasonable people can plan to live a long life. whey they age, they get sick and they they get sick, they need help. It might simply be help with day-to-day activities like cooking, cleaning, and shopping for groceries. They could need skilled care provided by a visiting nurse. Either way, it's important to know that this care can be provided at home and that LTC insurance can help pay for it."
Most major LTC insurance policies pay benefits for covered home health care expenses including the services of a registered nurse, home health aide or therapist, maintenance or personal care services to assist with activities of daily living, homemaker services, such as grocery shopping, meal preparation and housekeeping and adult daycare.
In addition, many LTC insurance products offer a care coordination feature at no extra cost and without a reduction in benefits.
People who say they don't need LTC insurance because they're never going to a nursing home simply need to be educated about how LTC insurance can keep them out of a nursing home.
Most LTC insurance products allow you to tailor a LTC insurance plan to meet a variety of needs.
Our LTC insurance specialists would be happy to help you design a plan to match your individual needs and desires
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