Archive | February 2014

Would It Be Good To Have Long Term Care Insurance ?

When you have long term careinsurance would be easily paid. Like any other services that you do buy, long term care service isn’t free. Actually it somehow costs more than other things you buy such as products and items because what you are buying here is the service being provided and given to you by another individual. It is a human labor and its quality that you are purchasing and not just any other item.

So, that means that if you pay for just long term care service per se and with whatever you have at the time that you need it already, it would cost you a lot and you will have to pay for it every time that you will need it. In connection to that, whenever you need help, you would have to have money to afford it and pay for it, and if you lack payment, the quality or even the time duration of your service would also be lessened and you might not be able to receive any when you actually badly need it.

So, to ensure your needs and expenses, get your long term care insurance fixed early. It is also an investment because you wouldn’t know if you will need long term care in the future due to sickness, injury, or even old age. A lot of people have been getting long term care insurance once they qualify so that they would have something that they could use and get from once they would really need long term care sometime in the future. Some get long term care insurance for safety precaution because you can never be too sure, especially of the future.

Since long term care is also expensive to pay for when you just use your money in hand and pay for it just when you need it, it is also more practical to invest in long term care insurance where you are guaranteed coverage for your expenses in long term care and that your money that you have paid before would last long and would be enough until you finish your terms with your insurer and the long term care company. Also, you would be sure that you wouldn’t run out of money for the sake of having long term care service and you would still be able to have and save money for your other needs apart from this.

In getting long term care insurance, it would be more affordable because the premiums would be much lower than if you just pay for it every time you need it. Long term care insurance would have terms and features such as inflation protection that would avoid you costing too much than what you originally paid for because rates of everything goes higher every year, and the elimination period where you could also pay for lower premiums because you would have a long time to pay before you could ‘activate’ the long term care services that you are paying for.

These things would help you decide the services that you could avail and that it is really a wise decision if you get long term care insurance when you need long term care.



Interesting Story of a Family that Benefited Greatly from Long -Term Care Insurance

This is an inspiring story of a man who planned his future decision indeed. In the story, Larry is a very successful man with a bright future ahead of him, considering he holds one of the lucrative position in the company, however, at a young age of 46 he had a condition that require him to be on long term care. Good thing he had secured his future.

Be as wise as Larry, be aware of the impact of long term care and the devastation it could bring if you had not prepared for it. Educate yourself.


Do The Right Thing Insurance

This man had it all and when his life changed, he still has it all thanks to proper planning. Worth the 4 minute time investment.

If you find my information helpful, I would appreciate you spreading the word by liking, commenting and sharing this with all of your friends and/or coworkers.


I will also help review your life insurance policy in any state of the US…see below.

Are you paying too much for your life insurance? Have you had your life insurance checked up? Please click here – this site is a must see.

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Long term care insurance for future care needs

Have you planned on who will care for you when the need arises?

Have you planned on who will care for you when the need arises?


One of the inevitable thing is aging, there is assurance how long we are going to live. And with aging comes health issues, have you planned for your future care needs? Do you have alternative funding sources to pay for the increasing cost of care?


Some people think they are better off self-insuring, however, money is hard earned and therefore deciding to pay care out of pocket is like throwing it away on expenses that should have been more affordable. You can consider purchasing  long term care (LTC) insurance as leverage if you look closely and contemplate on the inflation rate by the time you will need long term care. Americans think it is awfully expensive, not knowing that it would cost them more money to pay for long term care services out of pocket.  Long term care rates vary depending on the state and insurance providers, therefore it pays to shop for long term care insurance quotes, and from there on, you can compare and choose the policy that best meets your needs and demands.



Long Term Care Basics: How to Pay for Long Term Care Services

In 2010, there are over 40 million Americans aged 65 and above. This number is expected to double after 40 years. As a result, long term care is getting increasingly significant to Americans at the present. Long term care basics include ways of paying for long term care.

Majority of aging Americans will need long term care

Majority of aging Americans will need long term care

You may rely on bank account savings and stocks to finance long term care services. However, this method applies to affluent people or those in the upper class of society.

Paying out-of-pocket for long term care is usually done for in-home care. It is also recommended if you are relatively healthy or if you have continuous family support. Remember that you should expect difficulty with this way of payment if you become seriously ill and need costly treatment.


Medicare and Medicaid

If you have limited income and budget or part of the lower class, then you can get long term care from Medicare. This program is backed by both state and Federal governments. However, it is part of long term care basics that Medicare does not provide much long term care benefits. Medicare only covers a few months of stay in a nursing home and generally used only for recovery purposes.

Medicaid is a better alternative for lower class Americans. To be eligible, you have to meet its limit of owned assets and income. Though the exact limit amount varies among states, it is placed at a national average of $2,000. The downside is that lower class people above the limit may risk poverty just to qualify for Medicaid.

Fortunately, there are recently implemented long term care partnerships between state governments and private insurance companies. These partnerships allow disregard of assets so more people can apply for Medicaid’s long term care benefits.


Federal Government Programs

Government-paid benefits for veterans can be used to pay for long term care. They are used by both aged veterans and those with disabilities due to wartime injuries. Services that are paid include nursing home care and in-home care.

The US Federal government even has Older Americans Act programs. If you are a senior citizen who wants community-based long term care, then these programs are designed for you. Under the Older Americans Act, you may receive various benefits depending on your condition. These programs address the long term care needs of Native American senior citizens or those living in rural areas.

Private Insurance Companies

Of course, you can get long term care insurance policies from private companies. These policies cost more but offer a wider variety of coverage. Conditions that you may have to fulfill include waiting periods and deductibles.

Private long term care insurance policies in the market have a wide range of prices. They may even offer extra advantages such as inflation protection. You can even customize a policy and determine how long you will receive benefits and whether a policy will pay you daily or monthly.

Hybrid Long Term Care Insurance

As an alternative, you may even try hybrid long term care insurance. This is formed through joining of long term care with life insurance policies or annuities. Hybrid insurance has riders for additional benefits, and even tax-free features. However, the nature of life insurance policies and annuities means that it takes a long time before you can get full advantage from a hybrid insurance.

Aside from payment systems, there are more long term care basics where you can get additional information. Other topics include options of long term care facilities and comparing policies.


Long Term Care Solutions Suited For You

In deciding what kind of long term care solutions that you should choose, you first have to know what you need. Try and figure out what are you getting long term care for. If you are not yet sure, you could go and visit your doctor and ask him to have you checked up so you could decide in your long term care options and to give you an advice if he has any to help you with your dilemma.


You could also take a look at your family’s medical history. In there, you could find some indications or any possible sickness that you might encounter when you grow older. Though it doesn’t guarantee that you would really be having that kind of illness, it would also be a safety precaution if you are aware of what you could possibly have in the future.


Long term care is not only for the sicknesses that you could possibly acquire in the future. It is also for you when you get older and cannot afford to take care of yourself any longer. When you are at your post-retirement age, chances are, you will need help from others even in the most basic activities of everyday life.


For example, you might have a hard time walking from your living room to the kitchen or dining room to eat your meal. Then when eating your meal, you cannot properly hold the utensils or when you are about to wash the dishes, you cannot handle them properly. Long term care services could help you with these kinds of problems.


Long term care aims to give you a comfortable life even when you grow old and weak or cannot depend on yourself anymore. Since you are already in your golden years, you should just rest and enjoy the fruits of your labor and hard work from the prior years of your life.


You have worked so hard just to enjoy and relax in your future years and you are entitled to a good life that you very well-deserved. By having long term care in your older years, you would not have to struggle through life because your body disables you to do things you have to and hinder you from getting enough comfort in your life.


Long term care services would help you with everyday activities and aid you when you need help in accomplishing things that are vital in a person’s life yet you could still have the option of living independently and freely even if you are and is receiving long term care.


Keep in mind that in looking at long term care solutions, each person’s need would always be different from other people, so comparing yours from another person would be quite pointless and would do nothing beneficial for you. But, in considering what type of care and assistance you will be getting, you should always look at what you want and, of course, what you need. The only person who knows you the best would always be you.




Elder Care Law – What is It All About?

As sure as the sun rises and sets, we will get old someday. As part of the elderly population one should be informed of what can happen when it comes to elder care law or long term care law for the senior citizens. It is not only the senior citizens who should know about it but also the other members of the family. The reason for learning about elder care law is to make sure one is aware of the rights of the elderly when it comes to being cared for due to medical reasons and disability. The main goal of the elder care law is to help the older generations to be able to plan for their future especially in the area of their health.

One of the aspects of elder care law is the health care directives. These are written instructions done by the senior regarding their health situations and what they want done. This would include mostly documents that pertain to their medical decisions as well as living will and do-not-resuscitate instruction.

When an adult reaches a certain age, they would more or less need to have long term care. So this means that at this stage they should have private long term care insurance. However, there are persons who may not have been able to afford it so they will also need the help of the government. Fortunately, there is the Medicaid that is funded by the government that can partially help a senior citizen pay for their long term care.

The Medicaid requirements can be complicated and it may take a while for a person to understand the process. So it would be advantageous for a person to start looking into it as well and be prepared with all the requirements needed to avail of this service from the government. One also has to remember that the services given may not be as extensive when compared to having a long term care insurance plan of your own. But it might be helpful in some aspects so it would be good to learn about it.

Other pertinent documents that are included in the Elder Care Law is providing living trust and power of attorney. These are documents that can play a vital role especially if the elderly person may not be capable in making direct decisions. These documents can be drafted by a trusted lawyer based on the instruction of the elderly person.

The elder care law helps protect the elderly especially when it comes to providing health care for them. This law also provides specific directions on what to do when it comes to decision making in terms of medical or health issues as well as non-medical situations. This elder care law is established to make sure that the individual is properly cared for and will not be neglected especially during the twilight years. If you have loved ones that are senior citizens it is best to get the right information about the elder care laws. This can also help you when you become older as well.



Long Term Care Insurance Gender Based Pricing

Women live longer than men

Women tend to live longer than men


Long term care  (LTC) insurance is now gender-based, and since women tend to live longer than men, the cost of long term care insurance for women is higher compared to men.  Moreover, due to men’s lifestyle who are more involved in alcoholism, drugs and guns, the chances of men dying at an early age is also higher. Also, a lot of women are affected by their current living situation (being divorced, separated or widowed with no family members to care for them). It would be advisable for women to purchased long term care insurance policies at a younger age so it would be more affordable, for married women, they can take advantage of ltci spousal discount since insurance providers are charging single women higher premiums compared to married one.





What Plans Have You Made To Pay For Long Term Care During Retirement?

Retirement planning is an intense issue because many people neglect to include long term care in their plan. Saving for future is indeed important, however, we do not want to deplete our lifetime savings paying for care out of pocket, it would be devastating. The money that we save from years and years of working should be spend in enjoying our golden years, unfortunately, if we fail to include long term care planning, we maybe facing this risk sooner or later. This is the very reason why long term care insurance is necessary despite having retirement plans. It is important that we safeguard our asset and plan early if we have resources to fund future long term care needs.


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Long Term Care Legislation: Is It Really Effective?

Many senior citizens face problems when it comes to their long term care needs.  From rejected claims to limited coverage, these types of scenarios are not new to the long term care insurance industry. To protect the rights of elderly consumers, different states in the country have launched different steps in passing different long term care legislation.  These laws are also aimed to improve the industry for long term care.  However, the question remains, are these legislations really effective in making sure that our senior citizens are get the care that they need? 

People still rely on government funded insurance  – In spite of the different steps taken to make long term care more accessible and affordable in the country,  People still rely  on government funded insurance programs such as Medicare and Medicaid. In a recent survey conducted, most people still have strong belief that these federally funded programs will cover the cost of their long term care needs. In the latest report conducted, more than 10 million Americans have long term care needs.  And out of this figure, two thirds of the costs are paid by these government funded insurance programs.

Still no improvement in the long term care system – In previous years, there have been different long term care legislation that have been passed to protect the rights of elderly consumers. Some of these are the Community Living Assistance Services and Support program, the Medicare Catastrophic Coverage Act of 1988.  Though these programs had legitimate objectives in helping elderly Americans, these laws are still not able to meet the demands that the nation is now facing with long term care.  More elderly people rely on Medicare or Medicaid to cover their LTC expenses while others pay out of pocket for these long term care costs.


Many are still signing up for private long term care – As people find laws for long term care not as effective, many are still signing up for private long term care.   Unless a person belongs to the country’s wealthiest, most elderly citizen would still like to ensure that their long term care needs are covered in the future. It is expected by 2030, the costs for long term care would quadruple and this is the dilemma elderly American citizens are now facing.   If there are no effective laws in place that would focus on long term care, the country’s population would have to turn to private insurance companies for their LTC needs.

As the country’s leaders are still finding for ways to create long term care legislation that are  lasting and effective,  elderly Americans and those who require long term care still rely on government funded programs such as Medicaid.   Though previous laws regarding long term care have been passed, there are still flaws regarding these legislations.  In the end, more Americans are still relying on private institutions to cover their long term care expenses.  They sign up for long term care insurance.  With this, they hope they would be able to live independently while enjoying the rest of their lives.



Why You Should Get Long Term Care Insurance Policies

cross legs

When we age, we encounter physical. mental and behavioral changes that requires us to be on long term care, this is one of the reasons why we should get one.





In getting long term care insurance policies, it is better of you purchase it at an earlier stage of life. Long term care is a kind of service that provides aid and help for the people who are disabled when it comes to taking care of their selves.


People tend to ignore the fact that they are growing old and growing weak and will need help in doing their everyday tasks and chores. But everybody will go through that stage as they continue to live. Also, people who do not take very good care of themselves have a bigger risk of getting long term care sometime in the future.


And in relation to that, as people get old and weaker, they are more vulnerable to sicknesses and diseases that are all around nowadays. Sometimes, even a person’s lifestyle is the big factor how people get sicknesses that are in extreme cases already and those that hinder them from doing basic chores and activities of the daily life such as eating, moving, taking a bath, using the toilet, and dressing.


Apart from that, people also prioritize other things in life such as work, earning money, taking care of other people, getting their dreams in life, succeeding in their career, and buying and owning things that they have wished for ever since they were young. Though, people should also pay attention to their health and its state in the present and in the future.


People should also put it in their priorities and take in charge in changing their fates and in handling their own health. Since health is the only thing that people could hold on to and actually change in order to live longer, people should do safety measures on how to protect it and keep it in a good condition.


Long term care is one of the things that would support a person’s health in times of need. But to be able to receive long term care, you must also pay for it just like any other service and any other things that are being bought for the betterment of the body or of oneself.


It is a good thing that there is long term care insurance in which an insurer can support and cover all of your expenses regarding long term care, provided that you pay them first and invest in them for a period of time before they are able to give back and to provide you what you need for long term care.


You could also change some terms if you want, so the service would be according to your needs and even to your own preference. Just talk to your agent or insurer regarding this so you wouldn’t have complaints about the long term care service that you receive.


Of course, you would have to also follow their terms and conditions in having an agreement and contract with them before they are able to provide anything for you. People should just modify their long term care insurance policies to meet their personal needs and so the services could be effective for them.