Long Term Care Insurance Secrets
Learn What Most Agents Don’t Know & Companies Hope You’ll Never Find Out
From the monthly archives:
Who needs long term care insurance? According to a recent article in the New York Times baby-boomers.
Fran Hawthorne, writer and retirement planning specialist writes:
MOST of the nation’s 78 million baby boomers are watching their parents grow old. While investigating caretaking options for their parents, they should also be thinking about their own old age [...]
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Click here to view podcast with Jonathan D. Pond “America’s Finanancial Planner” and Laura Moore, a long term care insurance specialist from John Hancock Financial Services.
Duration : 0:4:42
Technorati Tags: care, Hancock long term care insurance, insurance, long, term
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CashBridging allows you to reconstruct the make-up of a LTC insurance policy at an equivalent, or lower, premium cost and with a higher benefit output. Most important is the improvement in the cash benefit side of the equation. The construction process is simple; combine a stand-alone cash benefit policy with a reimbursement or [...]
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My parents are nearly 68 and not in great health. They are both overweight (my mother is morbidly obese) and are under lots of stress. They had money, but lost lots in the bond market. They’ve bought and sold 7 homes in the 8 years they’ve retired and are obviously miserable and [...]
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It is estimated that over 40% of all Americans will spend at least some amount of time in a nursing home or other type of skilled living facility.
The average annual cost for a long term care facility in the United States is a little bit over $40,000 (with some areas of the county averaging as [...]
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Our employer is offering unum ltc insurance at a group rate. For a 47 year old, 4 yr coverage @ 4k, monthly premium is $20.30. When I chose the compounded option, monthly premium jumps to $59.10.
I called they company and they said it is compounded at 5% per year.
My other thought was to go with [...]
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Late 30’s, 40’s, 50’s, or 60’s?
Most companies will not sell it to anyone under age 50. A good way to go, if you can, is to purchase a policy with a 10 year payment option during the last 10 years before retirement. Have it paid up before retirement while you’re still working and [...]
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I am 59 but diabetic. I think I run an above average chance of needing long-term care in the future. I do not want to exhaust all my savings and home to pay for nursing home care.
Inexpensive is a relative term. You should look into coverage as soon as possible. Underwriting guidelines have [...]
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Caring for Our Elders...
