Long-Term Care Insurance-Helps You Plan For Your Future

Long-term care insurance is a necessary part of responsible planning for your future. Most people spend their lives planning for the best quality of life. Quality of life is different for everyone. One may want to sit on the beach while others would rather play tennis or golf. We work hard to provide for the best quality of life while we are young and physically active. When it comes time to think about planning for our future when we may or may not be as physically active something amazing happens. The planning usually stops and goes into coasting mode.

Coasting? What does that mean? It means that most people go into denial and just plain do not want to think about planning for a time when they may need some kind of assistance with their daily activities. The next is that without any education most think that long-term care insurance is just too expensive. Another reason no planning is done is procrastination. It is easy to procrastinate about purchasing long-term care insurance today because you feel great at this moment and so it can wait.

According to the Employee Benefit Research Institute (EBRI), it is expected that a married couple at age 65 in 2008 without employer-based retiree health benefits, will need $194,000 in savings to have a 50% chance of having enough money to cover Medigap premiums. Medicare Part B premiums, Medicare Part D premiums and median out-of-pocket prescriptions drug expenses throughout retirement.

To have a 75% chance of having enough money to cover these expenses they would need $253,000, and to have a 90% chance they would need $305,000. If out-of-pocket drug costs are higher, the savings needed would increase. These savings do not include what might be needed for any long-term care expenses.

The expense of a Long-term care insurance policy seems insignificant to what it costs today for long-term care.

It is important to understand what long-term care is. It is care that is needed above and beyond the time period that is covered by Medicare or any major medical insurance. It includes intermediate or custodial care (not covered by Medicare) and can be performed in many different settings such as in your own home, adult day care, respite care, assisted living and in a nursing home.

According the Met Life Mature Market survey, the national average daily rate for a private room in a nursing home is $213 or $77,745 annually. The annual premium is more affordable than spending anywhere from $3000-$7000 a month for care. Doesn't it make sense to pay a premium averaging $900 to $2000 per year now than pay huge amounts later which may jeopardize your families lifestyle both financially and emotionally.

The bottom line is America needs to be educated in long-term care financing and planning. The best way is to consult with a Long-Term Care Specialist. A Specialist who has additional education and training (LTCP, CLTC) in long-term care planning as well as being State Partnership certified.

An independent Long-Term Care Specialist shows no bias toward any one company. He knows the language of the policies, knows the different features of the different companies so he can help you compare the different plans. His goal is to educate first and then design (with your help) a plan that fits your budget and situation.

You can get Free information and articles regarding Long-Term Care and Long-Term Care insurance at http://www.LongTermCareInsurancePros.com and download a Free Ebook.

Long-Term Care Insurance Instant Quote vs.Expertise of a Long-Term Care Insurance Specialist

Don't waste your time with meaningless quotes that will not give you an "apples to apples" quote. The easiest and fastest way to get the information you want and need about long-term care insurance is to consult directly with a Long-Term Care specialist. Together you can choose the most appropriate policy for you.

There are two reasons that long-term care insurance quotes cannot be automated...

1. Product Complexity- Long-term care insurance coverage is pieced together from many complex options which are best discussed with a licensed independent specialist who knows the laws, companies and policies in your particular state. It not "one size fits all", so generic quotes are basically meaningless.
2. Suitability laws- Unlike other types of insurance, state laws require that a licensed insurance agent determine whether your selected long-term care coverage is uniquely suitable for you. Since long-term care insurance is so complex, these laws have been made to protect you, the consumer, from buying a policy that may not provide the coverage that you want or need.If you have have a long-term care insurance policy, and you question the value of your current policy, then you might want to have it looked over by a Long-Term Care Specialist.

Long Term Care Insurance Pros is an unbiased, independent and experienced specialist dedicated to being absolutely honest.

See for yourself and schedule a consultation.

Guidelines for Shopping and Selecting the Right Long-Term Care Insurance

When selecting a long term care insurance policy or getting a long term care insurance quote, it's important to look for a policy that not only you can afford but also meets your needs. There are many insurance policies covering Long Term Care available today. Policies can vary widely in terms of benefits they'll offer, terms of the contract, and features. Choosing the right long term care insurance policy is not simple.

Using the guidelines found in the article at Long Term Care Insurance Pros and with the expertise of a long-term care insurance specialist, you will have an easier time understanding the nuances of the long-term care insurance policy. It is important to understand the different options available and how they differ from company to company.

There are many more options to consider when evaluating long-term care insurance policies. Long-term care insurance is more complicated than life insurance or health insurance, so it’s best to consult with a Long-Term care insurance specialist. The process is simplified and made easy to understand. It is the best way to design a plan for is suitable for you and your situation.

Long-Term Care Insurance Gives You Peace of mind

Long-term care insurance is purchased for many reasons. In this article I focus on the number one reason you should purchase long-term care insurance. Long-term care insurance puts a plan in place that provides for your loved ones and brings peace of mind at the same time.

Everyone knows a family that has suffered a catastrophe. Long-term care events happen to young working adults as well as active seniors who are just aging as gracefully as possible. The difficulties families face after the catastrophic event are determined by how well they planned.
We all know that advance planning is critical.

So, why do so many people fail to plan for such an occurrence? The key reason why people don't plan is fear and discomfort with facing the prospect of family tragedy especially one in which you are involved. Who wants to discuss your own aging, becoming frail and eventually needing help with the activities of daily living? It is easier not to approach the subject that to picture oneself getting and needing assistance with activities that we take for granted when we are in our youth.

I even hear jokes about what people will do if this does happen to them and then they stick their heads in the sand and pretend everything is fine. The potential consequence of a long-term care event affects you and all the close family and friends around you. Emotions are not rational and instead of suppressing them and procrastinating it is important to deal with them. Once the emotional hurdle is addressed and crossed, long term care insurance brings relief as well as peace of mind.

Here are some tips that may help you make the right decision:

(1) Contact a Long-Term Care Specialist who has the additional education and training in long-term care financing and planning. A consultation with a long-term care specialist will give you the best options for you and your specific situation.

(2) Think about the importance of your own peace of mind. Let yourself appreciate how much better you would feel if you did not have to worry about your family. Let yourself face the fact that your own fate is ultimately out of your control, but that you can control the impact of your demise on others.

(3) Get an application in as early as possible to be able to qualify for the discounts available for good health and marital or partner status. Without an application, you will not know exactly how you qualify for the policy or exactly what the cost is. After you are approved, you have 30 days to accept, change or decline the plan. You may be pleasantly surprised at how affordable long-term care insurance can be.

For more information on Long-Term Care planning and Long-Term Care insurance and before you purchase a long-term care policy, consult a Long-Term Care Specialist. I have found Long Term Care Insurance Pros to simplify this type of planning. Request a Free Ebook on long-term care planning.

Long-Term Care Insurance and What A Long-Term Care Specialist Do For You

A long-term care specialist has his clients’ interest at heart. He/she is an independent agent with no ties to one particular carrier or another. The companies all pay the agents the same. The insurance industry is regulated by the State Department of Insurance. No one agent can sell the same plan with the same benefits for a different price.

So, why seek counsel with a Long-Term care specialist?

1. With the counsel of a Long-Term care specialist, you will be able to research the different companies and their plans. The long-term care specialist helps to simplify this research by making it easier to compare the different plans . Every company has something unique to it which may or may not be a benefit for you and your situation.


2. A long-term care specialist will assess if you have the assets to protect as well as comfortably be able to pay the premiums without sacrifice.

3. A long-term care specialist will help you understand the different benefit options and which ones have value for your particular situation.

4. A long-term care specialist will recommend carriers with the highest financial ratings and lowest customer complaints.

5 . A long-term care specialist will ensure you that you understand the carriers’ definition of the activities of daily living (ADLs).

6. A long-term care specialist keeps up with the changes in the law as well as new products that come into the marketplace.

7. A long-term care specialist has additional training and education (LTCP, CLTC).

8. A long-term care specialist is State Partnership Certified.

9. A long-term care specialist does business with top-rated carriers.

10. A long-term care specialist will help design a plan that is customized for you, your lifestyle and financial situation.

Seek the advice from a Long-Term Care Specialist. You will be provided with online quotes from the top carriers. You receive the counseling from the comfort of your own home or office. LongTermCareInsurancePros simplifies your Long-Term Care Planning.

Request your free Ebook on Long-Term Care Planning.

Long-Term Care Insurance-FAQs

Many questions keep coming up in regards to Long-Term care planning. The questions, however, have different answers for different people.

Long-Term Care planning and insurance are not the same for everyone. Insurance is about understanding risk and how you are prepared to handle the financial and emotional components if and when a long-term care event occurs in your family.

In the long run, it isn’t just about money, but the assurance that there is a plan in place. This plan will lessen the impact on your family when the need for care arises.

The Top Questions:

1. What is Long-Term Care?
2. When is the right time to buy Long-Term Care Insurance?
3. What should the Policy cover?
4. How do you make sure the insurer will be around when you need the coverage?
5. Won’t Medicare pay for Long-Term care?
6. What are the Partnership plans?
7. Can’t I just invest the money?

These questions and more can be answered when you consult with a Long-Term Care Specialist.
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Simplify Your Long-Term Care Planning with a Long-Term Care Specialist!

A long-term care specialist has additional training and education (LTCP, CLTC) in long-term care planning. The industry is changing constantly with new products coming into the marketplace.

Is There is A Risk to Living Longer- Long-Term Care Insurance Can Help

Financial service professionals help client manage risk, most obviously the risk of death and disability. There is a less understood risk emerging that is going to face the aging baby boomers. This is the risk of longevity and is a threat to even the best-laid financial strategies.

While baby boomers worry about outliving their retirement savings, longevity has other implications as well. The older we get, the more likely we are going to need long-term care. The odds of needing long-term care increase with age, according to a 2007 report by the Health Insurance Association of America. The cost of this care can be staggering.

We are not even talking about just nursing home care. The cost of in-home care can drain retirement savings and change any plans for loved ones. Longevity poses risks and needs a strategy to hedge against this risk.

Medicare does not pay for unskilled nursing care, such as bathing, eating and other daily activities. This is often the kind of care that people need most. This is the type of care that keeps people in their own homes. Individuals need to understand that Medicaid is not the answer. You would first have to meet Medicaid’s guidelines for income and assets in order to have access to Medicaid/ Medi-Cal eligible nursing homes. In addition, Medicaid does not cover in home services.

As we get older, the cost of long-term care insurance increases along with the chance of becoming uninsurable. It is important to understand that long-term care insurance is part of comprehensive strategy that helps with the preservation of retirement income, asset protection, and wealth transfer.

Younger individuals are adding this protection to their retirement portfolio while the premiums are low and their good health enables them to get substantial discounts.

Businesses are losing work hours due to the “Sandwich Generation”. The sandwich generation are the adults caught in the middle of taking care of their own children while beginning to care for their aging parents. Employers bear the cost of long-term care when a worker needs to take time off or resign due to caregiver issues. Employers are beginning to see the benefit of offering long-term care insurance on a voluntary basis. Employers provide access to this valuable benefit often at a discount. This benefit can extend to family members as well.

It is important to pick the right carrier. A lot has been written about long-term care insurance carriers in recent months, not all of it good, particularly in relation to sudden increases in premiums. Choosing the right carrier enables you to have the confidence that the company will be around when it is time for you to receive benefits. It is important to choose a company with strong financial strength.

Now that we are all living longer, we will have to pay for it, but we do not have to exhaust all our resources doing so. With long-term care insurance, you protect yourself from the risk of longevity as well as protecting ones assets and maintaining your lifestyle.

Consult with an independent Long-Term Care Specialist that has the training in long-term care financing and planning (LTCP, CLTC). You will find this education at LongTermCareInsurancePros
Dane Petchul, LTCP, CLTC is a Long-Term Care insurance Specialist. He counsels his clients in Long-Term Care Planning and insurance. You can get Free information and articles regarding Long-Term Care and Long-Term Care insurance at http://www.longtermcareinsurancepros.com/ and download a Free Ebook.