During Long-Term Care Awareness month which is always in November, it is wise to become aware that the younger you are, the healthier you are.
When it comes to long-term care insurance, a significant number of consumers cant' get what they want simply because insurance professional failed to share one significant fact with them: the need to health qualify for protection.
Each year, the American Association for Long-Term Care insurance surveys leading insurers to find out how many individuals apply for coverage but are declined for health reasons.
Qualifying with good health and even getting a "good health discount" is the important message you should take with you during Long-Term Care Awareness month.
It is important to begin the long-term care planning process while you are healthy and have all the planning options available to you.
Think about your next physical, how often does a 50-year-old leave their doctor's office without some sort of prescription in their hands or a new diagnosis. A health condition or single prescription may not preclude you from obtaining coverage, but it costs nothing to find out earlier than when it's too late.
It's never too early when it comes to long-term care planning. Find out what options are available to you while you have all the options available to you.
For more information and a free consultation: LongTermCareInsurancePros
Monday, November 23, 2009
Tuesday, November 17, 2009
Long-Term Care Premiums Could Go Up, So Is It best not to purchase Long-Term Care Insurance?
There is a conception that you should not purchase long-term care insurance because the premiums could possibly increase in the future.
While none of us likes cost of living increases on any of the goods or services that we use and benefit from, we do not forgo the comfort or protection they provide simply because their cost could increase in the future.
Almost everything in life, necessities and non-necessities, increase in cost over time, but that certainly does not keep us from enjoying and benefiting from them.The media has emphasized all the "bad" regarding increases in the premiums of the long-term care insurance carriers.
Twenty years ago when long-term care insurance products were new, the actuaries (the experts who analyze and study the data) were incorrect in determining the correct premiums. They made assumptions that there would be greater lapses of the polices as well as what the claims were to be. So, twenty years later, adjustments were made to the premiums.
Today, there is better data and newer plans with better pricing too.It is also important to know that almost all long-term care insurance policies include a provision called "waiver of premium." this provision states that once a person is received benefits from their policy, the premium for the policy ceases or is waived. During the duration of their claim, they would no longer be responsible for paying the premium on the policy.
It could prove to be a very costly mistake to forgo the security and protection provided by long-term care insurance out of fear that the premium might possibly increase in the future.Many people will be receiving benefits from their policies while others will be paying for the cost of care out of pocket simply because they were concerned about something that may have never occurred.
Long-Term Care Awareness Month sends this message:
Don't let another year pass without taking a hard look at how you will pay for your lown long-term care.
Simplify Your Long-Term Care Planning with a Long-Term Care Specialist
While none of us likes cost of living increases on any of the goods or services that we use and benefit from, we do not forgo the comfort or protection they provide simply because their cost could increase in the future.
Almost everything in life, necessities and non-necessities, increase in cost over time, but that certainly does not keep us from enjoying and benefiting from them.The media has emphasized all the "bad" regarding increases in the premiums of the long-term care insurance carriers.
Twenty years ago when long-term care insurance products were new, the actuaries (the experts who analyze and study the data) were incorrect in determining the correct premiums. They made assumptions that there would be greater lapses of the polices as well as what the claims were to be. So, twenty years later, adjustments were made to the premiums.
Today, there is better data and newer plans with better pricing too.It is also important to know that almost all long-term care insurance policies include a provision called "waiver of premium." this provision states that once a person is received benefits from their policy, the premium for the policy ceases or is waived. During the duration of their claim, they would no longer be responsible for paying the premium on the policy.
It could prove to be a very costly mistake to forgo the security and protection provided by long-term care insurance out of fear that the premium might possibly increase in the future.Many people will be receiving benefits from their policies while others will be paying for the cost of care out of pocket simply because they were concerned about something that may have never occurred.
Long-Term Care Awareness Month sends this message:
Don't let another year pass without taking a hard look at how you will pay for your lown long-term care.
Simplify Your Long-Term Care Planning with a Long-Term Care Specialist
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