What is an appropriate age to consider buying long term care insurance?

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 income is higher. It also protects you against future rate increases. Talk to a number of professionals as there are many plans out there with numerous options and be sure to read “Insiders Secrets“.

Reblog this post [with Zemanta]

Technorati Tags: ,

Comments (4)

October 12, 2008 · Filed under Long Term Care Insurance

Boomer Warning About Long Term Care Costs

Boomers Need to Protect Finances from Long-Term Care Costs

While scanning the internet today I came across another plea for Boomer’s to check out LTC insurance to protect their life savings.

With the average life expectancy reaching age 90, according to Center for Disease Control (CDC), baby boomers should expect to live another 25 to 30 years. Researcher Peter Kemper, Ph. D. in the Department of Health Policy at The Pennsylvania State University, reports that 69 percent of seniors will require long-term care in their later days. “To maintain their current lifestyle, it is important to secure future financial stability through long-term care insurance,” says Merritt.

Merritt suggests individuals that would particularly benefit from long-term care insurance are:

  • Those who have a family history of needing long-term care.
  • Those who will have a retirement income that would not easily cover the cost
  • of in-home nursing care or care at a facility of choice.

Those who wish to leave a financial legacy for family and/or charity. “In-home nursing care averages $128 per day and nursing home care averages $3,110 per month,” says Merritt. “Medicare and Medicaid do cover some expenses, but often do not cover all of the medical and other personal care services needed.”


The cost of caring for our aging population and the personal experience of Boomer’s and their parents should sound the alarm bell when it comes to long term care.

Tags: , , ,

Technorati Tags: , , , ,

Comments (1)

September 10, 2008 · Filed under Long Term Care Insurance

Long Term Care Insurance & You

Long term care is a big issue. The U.S. government (in particular) doesn’t want to talk about this but the truth is more money is going out than coming in. Interestingly enough, however, there is a Federal Long Term Care Insurance Plan. What are they seeing that you and I are missing. The never ending horizon of baby boomers headed “over the hill”.

People need to plan for their own security. Just a few years ago Congress passed tougher laws on hiding assets making it harder for people to qualify for Medicaid (which is medical welfare).

Long term care insurance can be the best investment you make in “insuring” your retirement income and lifestyle but if you do it wrong then it could be your biggest financial disaster.

That’s why I wrote Insider Secrets to Long Term Care Insurance; the Ultimate Consumer Buying Guide.

Over the next coming weeks and months I’ll be exposing interesting information on the insurance industry and help you learn the “insider secrets” that keep you from getting ripped off.

Until then,…

Technorati Tags: , , , ,

Leave a Comment

April 15, 2008 · Filed under Long Term Care Insurance