Category Archives: Basics of Long Term Care Insurance

LTC Policy Features: What Is Contingent Nonforfeiture?

Contingent Nonforfeiture_

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.

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The Insurance You Never Want to Use

It’s safe to say, no one buys insurance because they hope they’ll use it. Insurance is often associated with something bad or negative happening. Most people think about insurance once a year during Open Enrollment at their work, or if a life event takes place which makes them think about getting covered.

There are a few exceptions to this. For example, you may pay for medical, dental, or vision insurance through payroll deduction at work. This is coverage all people can benefit from with annual preventive care visits to help you stay healthy. Continue reading

New Study on Caregiving and Its Impacts

Transamerica Institute is featuring a new study on The Many Faces of Caregivers: A Close-Up Look at Caregiving and Its Impacts. They surveyed over 3,000 non-professional family caregivers around the country to offer a better understanding of a caregiver’s duties. The study included the impact of caregiving on a person’s personal health, well-being, finances, employment, and preparations for retirement.

The research offers an in-depth analysis of caregivers by employment status, gender, generation, ethnicity, household income, whether they are the primary caregiver, and whether they volunteered to be a caregiver or not. Also included was information about their personal health and financial situation.

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