Long-Term Care Insurance Keeps Up in Troubled Times

We are all trying to keep up in troubled times, Prices of just about everything seem to be going up, house values are down and everyone is aware of the financial crisis our economy is in.

Consumers are taking a closer look at spending habits and making the most of their earnings and savings. Some seniors may have an easier time living more frugally than younger generations.

In these belt-tightening times, it may be tempting to drop the "extras" to save money. Some items (like your insurance) should not be considered "extras."

It is important to remember, life's risks do not go away...meaning while it's important to watch what you spend, insurance protection is an area where you don't want to cut corners. The chances of getting cancer, having a heart attack or needing long-term care do not go away just because the economy has troubles.

During these tough economic times, the protection your insurance provides is even greater.
Any Questions? Or give me a call at 949-854-3001.

A Long-Term Care Specialist can answer any of your questions or concerns.

Long-Term Care Insurance-Where is it When You Need it?

I cannot tell you how often I get a call from a distraught husband, wife, life partner , children or nieces or nephews of people they love. The call usually goes something like this.

• “My wife has been having trouble managing the household chores, shopping, etc. and just staying organized.”
• “My husband just came back from the Doctor’s office and was diagnosed with early stages of Alzheimer’s. “
• “ I think my mother is ready for a nursing home, she just can’t stay alone anymore.”
• “My uncle needs some assistance, I think an assisted living facility would be the right choice for him.”

The next question is always “I would like to learn about and purchase Long-Term Care Insurance for _______________.”

I am always sad to advise the client that long-term care insurance is not available to their loved ones in the above situations. It’s the equivalent of calling your local insurance agent as you are running out the door when your house is burning down.

Where is the insurance when you need it?

I guess that’s what insurance is. According to the English dictionary, insurance is summed up by these definitions.
1. Insurance: Legal contract that protects people from the financial costs that result from loss of life, loss of health, lawsuits, or property damage. Insurance provides a means for individuals and societies to cope with some of the risks faced in everyday life.

2. Financial Protection against loss or harm: an arrangement by which a company gives customers financial protection against loss or harm such as theft or illness in return for payment premium

3. Money paid by an insurance company: The sum of money that an insurance company pays or agrees to pay if a specific undesirable event occurs.

4. Means of Protection: An act, measure, or provision that gives protection against an undesirable event or risk

Why do we have insurance?

In life, losses are sometimes unavoidable. People may become ill and lose income or savings to pay off medical bills. Individuals or their relatives may die of illness or accidents. People’s homes or other property may suffer damage or theft. People also may accidentally cause injury to others or damage to the property of others.

No one knows in advance when a loss will occur or how serious that loss will be. The uncertainty surrounding potential losses is known as risk. Insurance offers a way for people to replace risk with known costs—the costs of buying and maintaining insurance policies.

Long-Term Care insurance is available with substantial health discounts so it is important to obtain this type of coverage when you are still in good health.

According to the American Association for Long-Term Care (AALTCI) the following is the percentage of Long-Term Care Insurance applicants who qualify for good health discounts or are declined coverage.
Percentage of Long-Term Care Insurance Applicants Who Qualify For Good Health Discounts

Age 40 to 49 --- 63.2%
Age 50 to 59 --- 51.5%
Age 60 to 69 --- 42.2%

Percentage of Applicants Declined Coverage (Individual Policies)
Age 50 to 59 --- 13.9%
Age 60 to 69 --- 22.9%

A good place to start getting information is talking to a Long-Term Care Specialist who represents multiple long-term care insurers. The costs vary and acceptable health conditions vary among the top carriers.

Long-Term Care Insurance Online Competitive Quotes

One of the great ways to get best deals on long term care insurance and home health care is to get and compare quotes online from an independent Long-Term Care Specialist. An independent specialist can give you multiple quotes from all the top carriers. The carriers differ in what they offer in terms of benefits and additional options. A specialist will get the quotes to be as close to an "apples to apples" comparison.

As a matter of fact, getting your LongTermCareInsurancePros quotes online automatically gives you savings. This is because you are actually helping insurance companies to lower their cost in getting new clients by getting you online.

Doing business over the Internet is reducing driving to and from your agents office. It is a win-win for everyone. It is convenient to conduct business from the comfort of your home.

LongTermCareInsurancePros has a special screen sharing program where you can log into the specialists computer and and interact in creating the best long-term care insurance policy for you and your family. You can even see side by side comparison from the different companies.

For more information and articles on Long-Term Care Planning and insurance you can visit LongTermCareInsurancePros

Long-Term Care Insurance Covered by Time Magazine

A recent article in the September 15, 2008 of Time Magazine discusses the benefits of buying Long-Term Care Insurance at younger ages.

According to the article, more than half of folks in their 50s qualify for a good-health discount, and only 14% are denied coverage. But just 42% of those in their 60s get the discount,while 23% are denied coverage.

Consult with an independent Long-Term Care Specialist who can shop around for the best rates and carriers for your situation.

Here is what affects the price of your policy:

• Your Age
• Daily or Monthly Benefit
• Length of coverage
• Waiting period
• Inflation protection

It is recommended that you "lock-in" your long-term care insurance premiums with your good health and take care of this valuable planning as soon and as inexpensively as possible.

You can find articles and more information on Long-Term Care planning or a ask for Free Comparative Side by Side Quote at www.LongTermCareInsurancePros.com

Call me for a free consultation and personalized comparison at -877-GO-4-LTCi (464-5824)