Long-term care insurance covers two types of care: skilled care and custodial care. Skilled care requires a licensed health professional, and custodial care is to assist with activities of daily living and does not generally require medical training. According to long-term care specialist Thomas Gilmour, custodial care is the primary reason people purchase long-term care insurance, and every plan that LTC Consumer offers currently covers custodial care. Continue reading
Unless we die of a sudden event, most of us will experience a long-term care (LTC) journey. According to the US Department of Health and Human Services, 70% of people turning age 65 will need LTC at some point in their lives. The question is, how will that journey affect our finances, our health, and our loved ones? With long-term care insurance (LTCI) that journey can be a little easier.
Today is the first day of spring. The sun is shining, the birds are chirping, and the flowers are blooming. It’s a beautiful time of year… to think about long-term care (LTC) planning! Some of you may be wondering, “Does my health insurance pay for my LTC needs?” Or, “Does my long-term care insurance (LTCI) pay for my medical needs?” The short answer is, unfortunately, not necessarily. Both insurances are important, but they cover very different things. Continue reading
One of the best things about working with an LTC Consumer specialist is that they can offer so many options for your long-term care insurance (LTCI) needs. Our specialists aren’t tied down to one carrier. They listen to your story – your needs, your wishes, your health, your family structure – and find the right carrier for your situation.
No one likes to think about getting older and experiencing any sort of health issues. However, life happens, and if we create a plan things can go a little easier. Asking yourself these ten questions can help you determine if long-term care insurance (LTCI) is a product that’s right for you and your loved ones. Continue reading
Insurance policy features and terms can sometimes be confusing and difficult to understand. One of the commonly confused Long Term Care Insurance (LTCI) policy terms is contingent nonforfeiture. Especially when you hear two versions of nonforfeiture: contingent nonforfeiture and a nonforfeiture rider.
First, we’ll explain what contingent nonforfeiture is and how it benefits policyholders. Then, we’ll discuss what makes the nonforfeiture rider different.
Chances are you, your neighbor, a family member, or a coworker are providing some form of caregiving services. In the United States, millions of people provide support and care for ill or impaired loved ones. Yet, many don’t talk about the effects of caregiving on family members and what can be done to address the issue.
The month of May is American Stroke Awareness Month. Did you know 80% of strokes are preventable by controlling high blood pressure? Stroke is a disease affecting the arteries that lead to the brain. It’s the fifth leading cause of death and disability in the United States killing over 133,000 Americans each year.
Many Long Term Care insurance policies come with lots of built-in features and protection. LTC riders, or options as we call them, offer even more protection for an additional cost. Depending on the insurance carrier and product, LTC options may vary. The following are the most common LTC options available. Continue reading
When buying a Long Term Care insurance policy, there’s no one-size-fits-all plan. Coverage can be customized to fit your needs and budget. When shopping for coverage, it’s important to understand the difference between a daily and a monthly benefit. This feature can determine how much money is paid out in a claim. Continue reading