We are facing some turbulent times in the housing and financial markets. During these times, monies that may have allocated for any unforeseen expense just may not be there. The chances of needing some kind of long-term care in the future doesn't disappear during a financial crisis.
The chances are real, but now is the time to put a long-term care plan together.
An often over-looked protected spot for some of your money is long-term care insurance. You are asking Why?
Well, long-term care insurance is one of the safest, most prudent financial decisions you can make right now. I am confident that our financial and housing crisis will turn around, but it may take a year or five years for things to get back to where they were before the crisis. The big question of WHY is what if you needed long-term care tomorrow? Where would you get the money? Would you have to liquidate a home with fallen values or sell stock or mutual funds that are down 30%.
Long-term care insurance is an inexpensive hedge against the chance of needing long-term care in the future. If you are healthy, this is the best time to start your planning.
For the best online source for resources, articles and information on long-term care planning and insurance, visit LongTermCareInsurancePros
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Thursday, October 30, 2008
Monday, October 20, 2008
Long-Term Care Costs Could Grow to the Trillions
In today’s economic environment, we almost become numb to the mind boggling numbers of billions and trillions of debt that the U.S.in is. As individuals, however, we have seen our retirement savings reduced at a time that retirement or a redirection of ours lives seem so close.
AHIP just released the following:
State Medicaid programs could spend $1.6 trillion on long term care expenses throughout the next 20 years.
According to a report by America's Health Insurance Plans (AHIP), when federal matching funds are included, total government spending on long term care will exceed $3.7 trillion. In fact, AHIP predicts that Medicaid long term care spending will grow at a faster rate than overall health care spending, faster than Medicare and faster than the national gross domestic product.
If existing trends go on, annual Medicaid long term care expenditures could grow by 124 percent between 2008 and 2027, to $116 billion, from about $51 billion, AHIP says.
Finally, AHIP President Karen Ignani says the report shows the nation needs to improve its preparation for long term care costs and find better ways to improve recipients' access to home and community-based care. She says, "Many Americans underestimate their risk of needing long term care and many erroneously believe they have long term care coverage."
Simplify Your Long-Term Care Financing and Planning with A Long-Term Care Specialist
For your online source of information on Long-Term Care Financing and Planning, Visit: LongTermCareInsurancePros
AHIP just released the following:
State Medicaid programs could spend $1.6 trillion on long term care expenses throughout the next 20 years.
According to a report by America's Health Insurance Plans (AHIP), when federal matching funds are included, total government spending on long term care will exceed $3.7 trillion. In fact, AHIP predicts that Medicaid long term care spending will grow at a faster rate than overall health care spending, faster than Medicare and faster than the national gross domestic product.
If existing trends go on, annual Medicaid long term care expenditures could grow by 124 percent between 2008 and 2027, to $116 billion, from about $51 billion, AHIP says.
Finally, AHIP President Karen Ignani says the report shows the nation needs to improve its preparation for long term care costs and find better ways to improve recipients' access to home and community-based care. She says, "Many Americans underestimate their risk of needing long term care and many erroneously believe they have long term care coverage."
Simplify Your Long-Term Care Financing and Planning with A Long-Term Care Specialist
For your online source of information on Long-Term Care Financing and Planning, Visit: LongTermCareInsurancePros
Monday, October 13, 2008
Long-Term Care Insurance and the Current Market Turmoil
Over the past few weeks we have experienced the most turbulent markets that many of us have ever experienced. As we are uncertain about the future and planning for retirement, we have our focus on the market and every move it makes. This market has affected everyone in America.
We are not getting any younger and the costs for long-term care are skyrocketing. Again, this is something we can’t control even with eating right and exercising. Inevitably, we will age and at some time need help.
As a Long-Term Care Financing and Planning specialist, I believe it is important to say focused on the things we can control. I have not lost the objective of providing Long-Term Care insurance coverage to families who will need it to protect their assets and maintain their independence in the future.
What we can control is where to place your Long-Term Care business and your trust. As an independent specialist, I have the choice of placing business with the top carriers in the Long-Term care industry.
One of these carriers is John Hancock. A recent letter from Marianne Harrison, President of John Hancock Long-Term Care Insurance stated, “I would like you to know that John Hancock, together with its parent company, Manulife Financial, is one of the institutions least affected by the financial crisis and hence, we remain one of the most financially secure insurance companies in the world.” “Our LTC insurance business, with more than $9.2 billion in long-term care insurance claims reserves, is back by the financial strength and stability of our parent company, Manulife Financial, say Harrison.
Long-Term Care insurance is the protection your family needs to cover the expense of in-home care, assisted living or nursing home care. Today you may feel that you will never need help, but if you wait, it will not only cost a lot more, but there is a good chance you may not be able to purchase it at any cost.
If you have any questions, please feel free to contact me: Dane Petchul at LongTermCareInsurancePros or call me at 949-854-3001.
We are not getting any younger and the costs for long-term care are skyrocketing. Again, this is something we can’t control even with eating right and exercising. Inevitably, we will age and at some time need help.
As a Long-Term Care Financing and Planning specialist, I believe it is important to say focused on the things we can control. I have not lost the objective of providing Long-Term Care insurance coverage to families who will need it to protect their assets and maintain their independence in the future.
What we can control is where to place your Long-Term Care business and your trust. As an independent specialist, I have the choice of placing business with the top carriers in the Long-Term care industry.
One of these carriers is John Hancock. A recent letter from Marianne Harrison, President of John Hancock Long-Term Care Insurance stated, “I would like you to know that John Hancock, together with its parent company, Manulife Financial, is one of the institutions least affected by the financial crisis and hence, we remain one of the most financially secure insurance companies in the world.” “Our LTC insurance business, with more than $9.2 billion in long-term care insurance claims reserves, is back by the financial strength and stability of our parent company, Manulife Financial, say Harrison.
Long-Term Care insurance is the protection your family needs to cover the expense of in-home care, assisted living or nursing home care. Today you may feel that you will never need help, but if you wait, it will not only cost a lot more, but there is a good chance you may not be able to purchase it at any cost.
If you have any questions, please feel free to contact me: Dane Petchul at LongTermCareInsurancePros or call me at 949-854-3001.
Wednesday, October 1, 2008
A Sad Decision Made Regarding Eligibility for Long-Term Care Insurance
A few months ago, I was contacted by a couple who were interesting in getting the information on Long-Term Care planning and insurance. At the time we spoke, they had a lot going on in their lives (finishing a bathroom remodel). They felt they didn't have the focus at that particular time.
At their request, they wanted to get together in a few months. My follow-up call approximately six months later was very sad and disappointing to both my potential clients and myself. During this time, the husband (51years old) while having a routine physical was diagnosed with early onset of Alzheimer's.
I like to come into people's lives before a long-term care event occurs. After the fact, there is nothing I can do to help with the expense that this long-term care event will incur over this gentleman's lifetime.
It's true that long-term care insurance is less expensive when you are younger and in good health. It is also true that you may not qualify at any price if your health is failing.
We all are healthier today than we will be tomorrow. Yes, even with going to the gym and eating right. With those good habits, we will all live longer with a better lifestyle, but at some time living longer means we will eventually need some kind of long-term care.
Start your planning early enough so that you can make the decision if long-term care insurance is right for you. Do not let the companies make that decision for you.
A great source to start your education in Long-Term Care Planning and insurance is at LongTermCareInsurancePros
At their request, they wanted to get together in a few months. My follow-up call approximately six months later was very sad and disappointing to both my potential clients and myself. During this time, the husband (51years old) while having a routine physical was diagnosed with early onset of Alzheimer's.
I like to come into people's lives before a long-term care event occurs. After the fact, there is nothing I can do to help with the expense that this long-term care event will incur over this gentleman's lifetime.
It's true that long-term care insurance is less expensive when you are younger and in good health. It is also true that you may not qualify at any price if your health is failing.
We all are healthier today than we will be tomorrow. Yes, even with going to the gym and eating right. With those good habits, we will all live longer with a better lifestyle, but at some time living longer means we will eventually need some kind of long-term care.
Start your planning early enough so that you can make the decision if long-term care insurance is right for you. Do not let the companies make that decision for you.
A great source to start your education in Long-Term Care Planning and insurance is at LongTermCareInsurancePros
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