Tag Archive | long term care insurance quotes

I’m Going To Wait Before I Buy LTC Insurance

As most adviser and expert would say, when it comes to long-term care insurance, “Do not wait too long”. Waiting too long can have many negative effects on your application and your future as well. Your long-term care insurance premiums are much cheaper when you buy it while you’re young and healthy, there is lesser chance of being declined because as you age, your health declines as well, so if you wait too long, you might have develop a condition that will disqualify you from getting long-term care insurance. And if it is already too late for you to get one, how are you going to manage your finances once the need for care arises? A long-term care event can deplete even an ample amount of savings. As a result, you might not be able to get the quality care you need and want if you no longer have the funds to cover your long-term care expenses. Shop for long-term care insurance quotes from different companies so you have the options to compare and choose the best policy.

The Long Term Care Guy Blog

Why should a person buy LTC insurance at age 50, when they may not need care (typically) until age 80?  Why pay premiums all those years?  Who wants to spend money for 30 years of premiums.

Seems like a logical viewpoint, why start paying premiums now when it could be 30 years before you might need care.  As long as you stay healthy it’s a valid viewpoint.  If only you could guarantee that!

If you were 24 years old, with a Camaro or other expensive to insure car, and knew that the car insurance would be much less after your 25th birthday, would you wait?  It will only be a few months……..

HEALTH CAN CHANGE

Did you know that 40% of the people receiving LTC services in this country are between 18 and 64?  Many people go to the doctor every year for a check up and stay in good health, until the checkup where the doctor tells you…

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What We Don’t Know About Long Term Care – Is A Lot

The most common reason why people ignore the significance of long-term care planning is denial, majority of Americans think that they will not need any long-term care services. Another reason is the increasing cost of long-term care insurance premiums, not realizing that they might be incurring large out-of pocket expenses for ltc services. Most of the times, those who seek long-term care think about the cost of care only when the need arises and at this point, it is already too late to purchase a long-term care insurance because it is either you will be declined, or the cost of premium will be too high.

If we think of relying on spouses or children or other family members to provide care for us, think again, would you want to be a burden to your loved ones? You will leave them stressed and devastated not only physically but also emotionally and financially because caregiving is an enormous task. In addition, you will be leaving them broke because the cost of long-term care services are too high that it can drain even an ample amount of savings.

Relying on medicaid and medicare is not wise because medicare does not necessarily cover long-term care, while with medicaid, you have to spend down all your assets to become eligible. It doesn’t even assure that we will get quality care when we need it and where we need it.

The Long Term Care Guy Blog

Americans over 40 — in other words, us — are dangerously unaware of our likely need for long-term care when we age and woefully ignorant about the costs, according to a new poll of adults in midlife and beyond.

 
The telephone survey of 1,019 boomers over age 40 was conducted by the Associated Press-NORC Center for Public Affairs Research and financed by the non-profit SCAN Foundation, which supports research and other initiatives on aging and health care. It found that many older Americans had barely begun to think about their long-term care needs, nevermind put aside money to cover them. For example, nearly 31 percent of respondents said getting older was something they’d rather not think about.

Following are other highlights from the poll, along with advice available on Next Avenue to help you avoid falling short when the time comes.

Only 16 percent of…

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Why Signup with LTC Insurance Providers?

Even though people have seen how long term care (LTC) and long term care insurance  (LTCI) have helped many Americans get over chronic diseases and have another chance at life, many still ask, why should they check out LTC insurance providers, even when there is Medicaid and Medicare available? Here are a few answers why signing up for an LTCI would be worth more than what you would expect.

When people reach the age of retirement, they usually think that they’ve saved up enough for everything that they will ever need and they’re all set. Wrong. Even if a person has saved up to a figure nearing or exactly around or a little bit over a million dollars in the bank, if ever they get a chronic disease, the rates of health care per month is around $3,000 to $4,500. Annually that’s roughly around $55,000. That amount does not include other expenditures like medication and use of facilities.

Being able to buy health insurance beforehand would save you thirty percent from what you would be spending for health care plus the miscellaneous of medication and facilities are also covered. That’s nearly forty percent savings which would leave you a total of $22,000 annually. Comparing the figures, it’s already obvious that you’ll be saving more with LTCI and be getting more with the benefits.

LTC insurance providers usually tell you how much the rates will be depending on your eligibility and policy. Most insurance companies are willing to give you a free quote just so you can put their company into high consideration. Just remember that getting LTCI prevents you from overspending and automatically keeps your family and friends lifted of the burden of having to shoulder the expenses.

One constant reminder for LTCI buyers is that to never forget or neglect to have your insurance policy contract fully explained to you by the LTCI representative. Even if you are a paying customer, it doesn’t excuse you from knowing exactly what you’ve just bought. It will save you the trouble of any changes with your monthly rates as some LTCI carriers may have this on their contracts.

Certain studies have shown that there is a seventy percent chance that everybody will need LTC at one point specifically around their retiring age. This means that the seventy percent equals to the chances that you have just secured the future of your health care after applying for an LTCI. This saves you from having to worry and experience stress with having to purchase health care individually.

There are many Americans who prefer not to get LTCI which is fine but this means that they constantly have to go to the doctor, be careful with their activities and try to keep in shape everyday for the rest of their lives. That seems possible except for the fact that they may have a medical history of a chronic disease then that would change everything and make them wish they had LTCI.

LTCI is expensive but it doesn’t mean that it’s not affordable. Based on the numbers, getting LTCI actually saves you money. Be sure to look into LTC insurance providers in your area and get yourself that peace of mind that you deserve.

 

Source:

http://www.cbsnews.com/8301-505146_162-39941511/long-term-care-insurance-vs-other-strategies-pros-and-cons/?tag=mwuser

 

 

 

Long Term Care Quotes – Do I Need Long Term Care?

 

 

Sadly, only a few people plan early for retirement. Some don’t even realize how important long term care planning is to retirement. What is long term care and do you need insurance to cover its services?

 

Long term care refers to services offered to elderly and disabled individuals. Long term care services include personal care assistance, housekeeping, medical and skilled nursing activities. With the high cost of care, it is important to prepare for the possible cost of these long term care services. Long term care insurance can help. You can even start at this moment and save money for long term care.

 

What Statistics Say About Long Term Care

 

Studies show that people are living longer and needing more and more assistance. Statistics also reveal that 70 percent of people age 65 and above will need some form of long term care assistance during their lifetime.

 

It is important to know that although the government can help, people should not solely to what the government can do. The administration is even encouraging people to buy long term care insurance. The most effective way to ensure your future is to study long term care insurance and compare rates. Having long-term care insurance gives you control over your finances in case you need it in the future.

 

What Is Long Term Care Quotes and How Can It Help You?

The insurance industry is a competitive world. Today, there are several insurance companies fighting for clients to sign up for their products. Some even revamp their marketing strategies to boost sales. One of their strategies is to improve their online campaign by installing a computation tool on their official website that will allow consumers to get an estimate amount of long term care insurance.

The long term care quotes estimator will ask several questions like your age, your marital status, your state of residence and your long term care preference. These are asked because these pieces of information will determine the cost of insurance. That is why it is important that you accurately answer the form so that you will receive precise estimation as well.

 

Moreover, the website will ask if they can call you and when is the best time for you to answer their call. They call not to force you to buy their products but to find out more about yourself. Like most insurance, they are interested to know about your health and family medical background. This will determine your risks of needing long term care.

 

The long term care insurance agent can also discuss with you about the different features that you can include in your plan like the inflation protection rider. This rider will protect your long term care plan against the increasing cost of care.

 

With so many long term care insurance companies today, it is important to find the right one that will offer you the best insurance products. Start looking for the best LTCi plans by requesting for a free long term care quote online.

 

 

 

 

 

 

 

 

The Changing Cost of Long Term Care Rates

Long term care rates are the actual cost that will be covered by an insurance policy which includes the cost of a nursing home, facility where they conduct assisted living, or even in-house care. All of these factors may still vary because as time goes by, the cost of these factors are steadily growing, that is why the rate of a long term care will never be the same as the years goes by. Another way that a rate of a long term care may vary is to what kind of other services are included in your policy, and if you managed to get a discount from your insurance company.

If you are already informed to what is the current long term care rates, you can adjust and prepare it properly so that the long term care insurance that you are trying to purchase will meet your future needs. You should ask the insurance company about their past rates and if possible, give you an idea on how much is the future cost is going to be. If it is based on past costs, you can determine the future cost by getting a percentage off the annual premium. Insurance companies, who focus more on providing long term care, will already know what the values you are asking for, if they know where you live.  But just to make sure, it is advisable that you also do your own checking and research if they gave you the correct values and if it is true based on where you live.

Moreover, the rate of the policy you are going to buy will greatly vary depending on what kind of service is included in your insurance policy and what kind of long term care facility you are going to use, whether it is in a nursing home, assisted living facility or in-house care. The more services included in your policy and the higher the cost to cover your long term care, the higher your premium is going to be. The fact that it is still not yet for certain on what kind of care you are going to need in the future, it is best that you base your policy on a full time nursing facility care so that you will feel confident that what you are going to receive in the future, whatever happens, you will get enough care you can get.

In conclusion, the long term care rates will always vary depending on the person who is purchasing the said policy because there are a lot of different factors that will affect its cost, like the kind of care facility that is going to be utilized, the rate will also depend on your age and current medical records because the younger you are and the healthier you are when you get your policy, the higher your discounts is going to be. There are a lot of other factors that will change the long term care rates, but one thing is for certain, that no matter what the cost is, LTCi will definitely make your retirements days a lot relaxing and easier.

 

How to avoid high Long Term Care Insurance Costs

The cost of care annually is estimated at $80,000 to $90,000 without long term care insurance (LTCI). This is what the majority of American population are often confused with. Some misunderstand that LTCI costs as much but what it actually does is save you from overspending on health care. The rate of care does not have to be a burden once you learn further about long term care insurance cost.

LTCI can costs as much as half of what care would be without health care insurance but it can still get lower by knowing what to look out for before purchasing a policy. You might think that taking the time to choose the right benefits will save you money and that is correct. Just make sure that it does not take you too long to purchase and the reason for that is one of the pre-requisites of cheaper LTCI rates is younger age. You don’t have to wait for your seniority to come before you apply for LTCI.

Even at a later age and you have saved up to a million, without LTCI, it would still be considered insufficient since there are still medications and other costs that no one can predict. A million or two can only be enough to sustain your health care needs for about ten years whereas with an LTCI, you can have the same length of coverage but a fraction of the costs.

Saving money for LTCI is a great investment and it does not need to get complicated if you can follow the tips on staying healthy and applying early so that once an LTCI agent evaluates your current status, you’ll be eligible to receive the lowest rates and wider set of benefits available. Make sure in asking about long term care insurance costs, give every detail about your health so that you would know what kind of policy you can set up and what types of benefits you will be needing once you have reached your retirement years.

Younger and healthier applicants get offered of policies costing only of roughly around $400 to $600 for the premium simply because of acquiring the policies at an age that would take the LTCI vendor about 30 to 40 more years before they have to cover for the health plan and receive care. Other people have policies ranging from $1000 to $8000 annually because of the two things that was neglected; old age and further evolved diseases.

Again, LTCI may look costly but with the right approach and looking out for the pre-requisites, you don’t need to worry about extremely high premiums or limited range of benefits. Inflation does not even have to be a problem once you have applied for LTCI because once you have purchase the product, it will no longer be affected by the inflating rates.

Do yourself a favor now and save yourself from the worries of tomorrow. Get to know more about long term care insurance costs today.

 

Advantages Of Using A Long Term Calculator

Using a long term calculator to compute for the cost you are going to pay for your monthly premium is going to be easier rather than just looking at estimated values that are still not accurate. It is best that you already know the cost of what the premium is going to be so that you can prepare for it properly. You can also compare prices you got from different insurance companies or even quotes you got from the internet before purchasing your long term care insurance policy.

Knowing everything there is to know before buying your long term care insurance is important because just purchasing and not thinking about will only end up in you paying more than the usual instead of saving money and getting the best but cheapest policy available for you. LTC insurance rates vary from person to person, and from company to company, there is no definite value available out there, insurance policy is not like an item in a grocery store where there are specific prices already for it. There are a lot of factors in determining the final computation of the rate of your insurance policy using a long term calculator. One of which is the age were when you are purchasing the said policy, the younger you are, and the cheaper the premium is going to be. The reason behind this is because when you are still young, you are still in the prime of your health where the insurance companies based their quotations for the rate they are going to give you. You are not going to be considered as a high risk person in terms of your health condition by the company.

If you are going to add additional services in your insurance policy, your rate will also change and will charge for additional payments if you choose to do this. Other factors in changing the cost of your policy is the kind of service you choose to get. It could either be in a nursing home, assisted living facility or in house nursing care. Each kind of service will have a different charge, and depending on what other services you add, like extra medical equipment and other medical supplies, will be a factor in changing the cost of the long term care insurance policy you are trying to purchase.

In conclusion, the factors that can vary the cost or rate of your long term care insurance policy are a lot. And each long term care policy is going to be different from person to person, depending on what company they chose to purchase their policy in. Computing for the outcome of the computation of your desired long term care policy is complicated because of the factors that could change the rate of it, but if you are using a long term calculator, your computations will not only be accurate, but will also be much easier compared to just computing it manually, where you might commit mistakes that would only make it much harder to check where you made that mistake.

 

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Why it is Important to Start Shopping for LTC Insurance Now

More often, people who are dependents of long term care services are seniors or elder people who needs assistance in performing the activities of daily living. However, this does not necessarily mean that younger adult should ignore planning for long term care insurance. While majority of chronic illnesses are developed as we age, it doesn’t make younger people invincible to these illness, not to mention injuries, disabilities and accidents as well. In addition, health is an unforeseen variable so no one really knows when they are going to develop a condition that would require them to be on long term care. So while you are still healthy, it would be wise to shop for long term care insurance quotes, the earlier you buy it, the more affordable it will be and the less chances of getting declined.

Ltci rates varies widely depending on the insurance company, buying young means you will have an idea how much you need to save and for how long, and you will get to choose the policy that fits your budget.

Start shopping for long-term care insurance now and get to know your options based on your needs, preference and finances. Safeguard your future and request free long term care insurance quotes at infolongtermcare.

ACBI Insurance

There is an old saying implying that although people pay for long-term care insurance with money, it is ultimately their health that will truly buy it. This is because some preexisting conditions disqualify people from obtaining coverage. Those who are in good health should start the process of shopping for and obtaining long-term care insurance as quickly as possible. The majority of Americans have one or more health issues. These could be anything from anxiety and depression to hypertension or cancer. Even those who have health conditions may qualify for specific types of long-term care insurance, but it is best to discuss options with an agent who specializes in this type of coverage before making a decision. Professional agents have access to a wider variety of options to offer consumers.

Standards for health underwriting vary between insurers. They can also change from time to time, so it is important to…

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