A long-term health event can happen to anyone, and the chances of an event occurring only increase as we age. In fact, it’s estimated 70% of people over age 65 will need some form of long-term care in their lifetime. The problem is, home care or care in a facility is expensive and can deplete a family’s savings quickly.
That’s where long-term care insurance comes in. Individuals and families can transfer their risk to an insurance company to pay for or help cover the cost of long-term care services.
However, not everyone in their retirement planning ages can afford the insurance coverage they need. In some cases, children may step in to pay for long-term care coverage for mom or dad or both. Continue reading
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.
There are better ways to pay for your Long Term Care insurance (LTCI) premiums. Some involve paying for premiums with tax-free money or deducting premiums on your taxes. Consider these four tax-friendly ways to pay your LTCI premiums. 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
In previous posts, we’ve covered what long term care insurance does, when it can be a wise choice, where it can help pay for care, and when the best time to apply is. If you’ve done your homework and think a long term care policy is a smart option for you, here are some tips on how to shop for long term care insurance and apply for coverage.
Have you heard about the importance of long term care planning, but you’re not sure how Long Term Care insurance (LTCI) works? Here we’re helping you understand why LTCI is a valuable part of retirement planning.
Just like you shop around for the best auto insurance coverage, you should also shop around for Long Term Care insurance (LTCI). Here, we’re helping you by recommending our top three picks for Long Term Care Insurance companies.
Our review comes from decades of experience working in the LTCI market. We’ve watched carriers come and go, release policy series rate increases, innovate with new products, and most importantly, pay claims.
Learn more about these top three LTCI carriers (in alphabetical order) and why they’re leading the market today.
Long Term Care Insurance (LTCI) underwriting differs from most other insurances you buy. Auto and Homeowners insurance rarely ask personal questions about your health while Life insurance gets more personal with physicals and urine, blood, and saliva tests.
Many people think since they passed Life insurance underwriting they’ll qualify for Long Term Care Insurance. Unfortunately, that’s not always the case. With Life insurance, insurance carriers are underwriting for your mortality. With Long Term Care insurance, they underwrite for your morbidity.
Buying insurance shouldn’t be difficult. Now you can shop for Long Term Care insurance (LTCI) online from the comfort of your own home!
Save time and energy by shopping online for insurance whenever and wherever you want. You can even schedule a planning appointment with an LTC specialist at a time that’s convenient for you and your spouse.
Get to know these perks and more when you buy LTCI online.
The high cost of long-term care can tap into your income, drain your savings, and affect your quality of life. Finding tax-free ways to pay for coverage can help you plan for your future while easing expenses now.
Don’t forget you can use HSA funds to pay a portion of your Long Term Care insurance (LTCI) premiums. Learn more about HSAs, including how they work and ways to save.