Category Archives: Long Term Care Insurance Costs

Will today’s LTC Insurance Policies experience Rate Increases?

If you purchase a long-term care insurance (LTCI) policy today, your odds of receiving a rate increase in the future are much less than in year’s past. The American Association for Long-Term Care Insurance (AALTCI) polled close to 80 long-term care (LTC) industry actuaries and found that 79.1% of them believed the likelihood of a future rate increase on presently priced policies was 10% or less. 12.5% of the actuaries believed there was a 20% chance for an increase, 4.2% said 30-40%, and 4.3% said 50% or more. AALTCI Director Jesse Slome said he believes the risk of a future rate increase is zero. Continue reading

HSA Account Can Pay for Long-Term Care Insurance Premiums

By now you’ve probably heard that 15 million Americans are expected to need long-term care (LTC) by 2050 and 52% of people over the age of 65 will need LTC in their lifetime. Maybe you’ve considered talking to your financial advisor or someone who specializes in long-term care insurance (LTCI). Perhaps you’re still concerned about the cost of an LTCI policy dipping into your budget. Did you know that you can use your Health Savings Account (HSA) to pay for LTCI premiums? Continue reading

Should Siblings Pool Resources and Buy Long-Term Care Insurance for a Parent?

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

A Look at the Rising Cost of Long Term Care

Genworth Financial recently released their annual 2017 Cost of Care Survey Findings. For 14 years, Genworth has examined and documented trends across the long term care services market. It’s not surprising that their results have found the costs for care services steadily rising over the years for home care, nursing home care, and everything in between.

To help you digest their new 2017 survey report, we’re providing an overview of their findings based on the national median rates for various care settings.

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What Is the Cost of Waiting to Buy Long Term Care Insurance?

You may understand the value of Long Term Care insurance, but like many people, you may choose to wait a few more years to buy coverage. But did you know there is a cost of waiting when buying Long Term Care insurance?

Waiting a few more years could cost you more money in premiums or you may no longer be eligible for coverage. If you wait, make sure you understand the true cost of waiting.

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Is There Such a Thing as Affordable Long Term Care Insurance?

Long Term Care Insurance protects your income and assets in the event you’re injured, ill, or cognitively impaired. But is there such a thing as affordable Long Term Care Insurance (LTCI)?

LTCI may not be the best fit for everyone. But if you have assets to protect and income to pay for it, affordable Long Term Care Insurance options are available.

LTCI policies can be customized to fit your needs and your budget. By adjusting the plan features and accessing discounts, you can protect yourself from the financial risk of long term care while keeping coverage affordable.

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Long Term Care Insurance – Coverage to Fit Your Budget

Many often wonder, “Do I have to speak with an insurance agent to find out of the cost of long term care insurance?” We have good news for you.

There won’t be an awkward sales pitch at your kitchen table, or lengthy invasive phone calls. Much can be done over email and text, and a ton can be learned simply by perusing this website.

Our long term care insurance specialists help find you the right coverage based on your age, gender, marital status, and state.

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Is Long Term Care Insurance Worth It?

Am I ever going to use it? Is future coverage worth the premiums I pay now? Is the cost of long term care insurance worth it?

These are common questions people wonder when considering if long term care insurance is worth it. Buying long term care coverage may depend on if you have the income to pay for it and assets to protect.

The following information can help you understand the value of long term care insurance so you can know if it’s right for you.

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