Long Term Care. And – Is It Really Worth Insuring for it?

long term careThe substantial bulk of people wish to age with dignity and control. However, it takes planning, in which long term care preparing needs to be a part of every financial and retirement strategy written today. Record numbers of people are living well into their 80s, 90s, as well as past the age of 100. That translates into even more time to do the things you want to do, to hang around with individuals you like. Nevertheless, it also postures brand-new challenges in funding this longer period of dependency.
In maturing, you change in some familiar ways. Some of those means can quickly be completely unexpected. In your 60s and 70s, tasks and activities that you when carried out consistently or with ease may become progressively hard. And, gradually, you might need a growing number of help with such activities.
You could also experience an unexpected, acute requirement for such help after an incapacitating health problem such as a stroke.Due to a variety of aspects, consisting of years of generous underwriting and the existing, remaining low interest rate environment, the lasting care, or LTC, insurance market discovers itself in the midst of a historical contraction, with both need and the playing field reducing. Keeping policies budget friendly has actually been a challenge.
Amidst all the upheaval many individuals have been saying, is it worth it? And, the reply in general must be yes, as the alternatives are going to be pretty harsh without it. Also, the item is going through something of a testimonial, with numerous modifications bringing brand-new benefits for consumers. If you ever have a long term health problem or a persistent condition, you most likely will need extended care in your home, in an assisted living center or retirement home. Long term care insurance (LTCI) can help cover these expenses, which can be high.
LTCI can assist you to maintain your monetary liberty and offer you the flexibility to take part in choosing the things that affect your care. It means that you get to choose the services you get, where you get them, and who provides the care you require.
Long-term care is varying these days from conventional medical care that tries to treat or cure diseases into a longer period of old age. Long-lasting care helps you keep your present way of life, however it might not improve or remedy your medical troubles. Care could be provided in the house or in a hospice, an adult day care center, a nursing home, or in an assisted-care property.

So Get On Now, and Start Planning!

Are you prepared to begin planning for your future? Let’s get going. Long-term care protection can be an important device in your monetary and retirement planning. Do some research and find out about Long-Term Care coverage, prices and the application process, by using the internet to get comparative prices.Someone with a prolonged physical disease, a handicap or an intellectual impairment such as Alzheimer’s illness commonly requires long-lasting care right  away.
Long term care services could consist of assistance with the daily activities of living, home healthcare, reprieve care, hospice care, grownup day care, care in a retirement home or care in an aided living facility.The level of the expense relies on the quantity and type of care you require and where you get it.The increasing cost of long-term care, coupled with an enhancing range of choices, can make it challenging for families to find the very best, inexpensive care. The calculator below can assist with that process by estimating the expense of lasting care.
Alternatives include expenses for care in a retirement home, helped living center or adult day care, and use of a house health assistant or housewife service.Calculate how much cash you will conserve by the time you anticipate requiring care if you start to reserve a particular amount of money each month starting now. Then, compare this quantity with exactly what the average cost of care in your area is expected to be at the time you prepare for needing care.
Premiums are based on your age at the time of application, so the younger you are when you use, the lower your premium will be.Assist yourself in maintaining your self-respect and your hard-earned cost savings. Have the flexibility and financial security to assist guarantee you receive suitable care.

Questions and Answers

Long-Term Care is designed to cover the expenses of someone in a nursing home. The amount the plan will pay depends on the options selected when purchased.If you or a family member are caring for a loved one and you feel that at some point they may require either home health care or nursing home care I feel LTC is a good idea. However, there are some things you need to consider.1. The size of their estate. If the family member has a small estate it might not be worth the expense for LTC.

LTC is a valuable tool to protect a persons assets from being spent down to provide for care. Because Medicaid requires that you spend down assets, the benefits paid form the LTC policy will protect those assets.2. Amount of divertable income. When a person enters a nursing home facility typically all available income will be diverted to the nursing home to pay for expenses.

LTC can be used and should be used to make up the difference. For example, if the monthly expense is $4,500.00 and you family member has $2,000.00 in income the long-term care policy should provide enough benefit to cover the remaining $2,500.00. Since most companies have a minimum daily benefit of $100 the plan would pay out $3041.00 monthly.

Because the plan will pay out $3,041.00 to the nursing home, it will leave $541.00 a month of her income available for her to spend.By taking their income into account, your not over purchasing coverage.3. Another thing to consider is the facility where you want your family member to stay.

If you have a specific place in mind, talk with the home to determine the cost. Most plans can be purchased with inflation protection that compounds the daily benefit by typically 5% each year. By knowing the cost, it can help you determine the amount of coverage needed.4. Finally, what is their health. LTC policies are not underwritten using mortality (likelihood of death) like life insurance. It is underwritten using morbidity which evaluates the likelihood of disease or disability.

If the family member is ill or have a disabling medical condition, you may not be able to qualify. Also be cautious when applying for coverage if the agent tells you they guarantee it will be issued. Look over and read the application to be sure all medical information is disclosed. Some dishonest agents will omit medical information while completing the application to ensure it will get issued. However, if this occures the company is likely to decline the claim. To be safe, review the application. I hope this helps.

Posted by Kayleigh Hardin


John Hancock Long Term Care?

Long term care reflexNear 70 percent of people will need long-term care at some point in their lives, according to the U.S. Department of Health and Human Services. Even if you have done a great task conserving for retirement up until now, you have to prepare for unanticipated occasions that can hinder your future, and the requirement for lasting care is among the costliest of those events.

As an example, if you have to relocate to a retirement home, the average cost annually is over $80,000. A growing number of infant boomers enter their retirement years, there are brand-new financial issues they have to consider as they plan the rest of their lives. One that is frequently ignored is long-lasting care. Almost 70 % of persons over 65 will require some type of long term care, and with 10,000 persons turning 65 every day over the next 19 years, this is ending up being a progressively crucial issue. Medicare may cover some prolonged care expenses however only under particular quite limited conditions.

John Hancock is the name of a company that offers long term care insurance. Providing insurance which is made to assist its policyholders pay for long term care expenses that would otherwise negatively affect your gathered wealth and retirement cost savings. John Hancock offers a variety of choices for long term care policies and they state that they can assist any person pick a product that provides them more selection and self-reliance about when and where to get care from long term care service providers.

So What is Essential When Considering John Hancock Long Term Care?

There are few things more difficult than the need for long-lasting care. Lasting care (LTC) refers to a broad range of clinical, personal, and social services provided to individuals who are unable to look after themselves over a relatively extended period of time. Although many people believe long-term care refers to care in a nursing home, care can likewise be offered at home by house healthcare employees, nurses, or specialists, or in a community-based adult day care center.

The financial difficulties of offering long term care (LTC) can be tremendous for everyone other than the very wealthy. When someone can not care for themselves or perform regular day-to-day activities, healthcare service providers may be needed to aid with jobs such as eating, bathing and dressing. Typically this situation is the outcome of innovative age, however can likewise be required by ailments such as Alzheimer’s illness, rheumatoid arthritis, stroke, multiple sclerosis or injury. The expense of long term care can be really pricey and can rapidly affect your retirement savings and the lifestyle of you and your household unless you hold an insurance plan to cover these costs.

John Hancock offers a range of long term care protection options for long term care requirements. In addition there is stated to be even more versatility in their due to the fact that John Hancock also provides choices that enable buyers to customize their LTC policy to fit their needs and budget plan. Chartered in Boston in 1862, John Hancock is today the sixth biggest public life insurance provider on the planet and the 2nd largest in North America with roughly 21,000 staff members in 19 nations and territories. John Hancock’s other main retail products in the U.S. consist of life insurance, long-term care insurance, annuities and shared funds.

There has been some bad promotion connected with this insurance business. In 2012 numerous policyholders seem to have actually been surprised when they received a notice of a very large increase in the yearly premium for their policies. The rise did not appear, depending a number of reports readily available online, to comply with either their sense of fairness or the spirit of the policy. It is not understood exactly how this was resolved, but at the time it appeared regrettable as these individuals were simply wishing to prevent the dreaded result of being older, being alone, and wanting to have readily available to them sufficient financing ought to the discover themselves in need of everyday care that is not covered by Medicare. They know that long-term custodial care, either in the house or in helped living or in a retirement home, is now reported to cost in the area of $7,000 a month, moreover these charges are increasing all the time.

Households throughout the country are confronted with the challenges brought on by the need for long term care, whether it is getting care or offering look after an enjoyed one. The cost of care can be considerable, it can likewise create a difficult house and work environment. The reality is that a serious health problem or accident that requires long term care can happen at any time. You have actually striven to conserve and prepare for retirement, so why not be prepared. Long term care insurance will assist people to live life the method that they choose.

John Hancock is a leading presence in long term care insurance, consistently ranking each year as one of the leading providers across the country. John Hancock services more than 1,000,000 long-term care insurance policyholders and has actually kept its promises, paying even more than $2 billion in lasting care insurance claims. Furthermore, hundreds of corporations have actually chosen John Hancock to provide long term care insurance as part of their worker benefits programs and is among two providers picked to administer the Federal Long Term Care Insurance Program for U.S. Federal staff members and their families.

The most crucial element to consider when selecting a long term care insurance company is the company’s monetary strength. Since you may not utilize your protection for 20 or 30 years, you want to choose a company that you feel positive will be there when you require them. John Hancock Financial is a department of Manulife Financial, a leading Canada-based monetary services group with primary operations in Asia, Canada and the United States. Manulife Financial Corporation trades as ‘MFC’ on the TSX, NYSE and PSE, and under ‘945’ on the SEHK. John Hancock supplies long term care insurance created to help those that are insured, pay for long term care expenses that would otherwise detrimentally effect upon their gathered wealth and retirement cost savings.

If you secure a policy you will qualify for benefits when a licensed health care professional certifies that, due to a protected condition, you rely in at least two of six Significant Activities of Daily Living (SADLs) or you are cognitively impaired. A John Hancock patient advocate will confirm this information. To alleviate some of the stress of this experience, John Hancock mentions that they are dedicated to making their claims process as clear as possible. When the time comes that the insured individual needs to go into long term care, the insured will only need to complete and return the required forms, and all eligible insurance policy holders will get payment.

Questions and Answers

I a long term care policy worth keeping when your are very financially strapped?I got this thing because I had congestive heart failure HF at an early age. I was scared and had a specialty insurance broker find a suitable policy for me. I took some doing. That was over 20 years ago. I am early 60’s now. Heart is stable. Am very financially strapped and this policy costs me a great deal of money. It is from a company in Canada that calls itself John Hancock. But the real JH died a long time ago. This company is, ahem, “named in John Hancock’s honor.” It may be a good policy. I tend not to trust insurance. My broker, a nice guy, says it worth gold. Don’t drop it. But how do I know this company would ever come through for me in an honest, reliable way if I needed. Meanwhile it is burning up $3000 a year that I would well use to live. Any advice, especially from financial people and insurance professionals?
Of course it is NOT REALLY JOHN HANCOCK. John Hancock does not exist anymore. A Canadian company borrowed the name because the name has a good reputation.
I found that out AFTER I bought the polics thinking it was really the original John Hancock.

Posted by Cinnamon
Dan Mole Ok. First of all, Manulife didn’t “buy the name,” they bought the whole company. So, yes John Hancock exists and operates much in the same fashion that it did prior to the merger just 10 years ago. And, if you bought your policy 20 years ago, then you bought the policy long before they even demutualized and long before the merger. Also, your policy doesn’t change because of the merger.They’re a good company, so if you qualify for a claim you wouldn’t need to worry. More often than not, people don’t get paid from insurance when they expect to because they don’t understand what they bought. To answer your question, which is more important than the merger and the brand name, you’ll need to focus on the important information. I would think what you would need to consider is 1) If you bought the policy now, it’d probably easily cost you twice as much and 2) if you can’t afford it, then the purpose of the insurance, which is to protect your assets, might not exist. You should meet with someone you trust to examine your situation.
Best Long Term Care Insurance Companies?

Posted by Jonathan
Dan MoleA lot of questions about LTC huh Jonathan?John Hancock and Genworth control the largest shares of the market (John Hancock alone is almost 50%). Those would be the better of the options. Other ones would be MetLife and maybe TransAmerica. Those would be considered the top LTC insurance providers nationwide.John Hancock typically has the cheaper rates than the other companies, and they offer heavy discounts. Contact a local broker to help you with it since LTC is complicated and not typically something that anybody can do on their own.
Long-Term Care Insurance?My wife and I are 66 and in good health but considering long term health care insurance. Our broker has got us a couple of quotes, one from John Hancock and one from Auto-Insurance Life; Any words of wisdom on what to look for or avoid would be most welcome.

Posted by Jeremy W
Dan MoleMake sure it covers in home care..sometimes you can remain @ home with help, which is much better than going to a nursing home. Easier on you and your family. 66 and good health, now is the ideal time to buy, before something unforeseen happens and you would not be accepted..I also think AARP may have a plan.


Why Refer To AARP Long Term Care Insurance Info?

AARP long term- are insuranceThe American Association of Retired Persons (AARP) is a significant player in the insurance industry and collects $400 million a year in charges for lending its name to numerous personal insurance policies, including lasting care insurance.
Just like all insurance and monetary products you are thinking about, it is well worth the time to read as much as you can and ask questions about both the benefits and drawbacks.
If you ever have a long term ailment or a persistent condition, you might need prolonged care in the house, in an assisted living center or nursing home.
Long term care insurance (LTCI) is the policy which you would claim against and it could assist with covering these expenses, which can be steep.
LTCI can assist you keep your monetary flexibility and give you the flexibility to take part in making choices that influence your care – about the services you get, where you get them and who offers the care you need.
The AARP group:
“makes referrals for looking for healthcare alternatives, and has done since 1958. However, these are mainly limited to add-on strategies, although they have directly provided supplemental insurance for Medicare and Medicaid. Since 1997, certain services have been contracted under the Options Program. These consist of individual health insurance, dental and vision cost savings, and extended care in addition to price cuts on prescribed and nonprescription (OTC) drugs. OTC discount rates consist of vitamins, creams, and other items that promote senior wellness.”  – http://www.totalreturnannuities.com/insurance-ltc/.
The words “long-term care” refers to the help that individuals with persistent diseases, impairments or other conditions need each day over a prolonged time period. The type of aid needed can range from support with basic activities (such as bathing, dressing and consuming) to experienced care that’s supplied by nurses, therapists or other specialists.The American Association for Long-Term Care Insurance does not offer insurance.
If you would such as specifics about policies you can either complete our easy online questionnaire and we’ll have a designated expert provide you with no-obligation details to discover members in your area.
It’s vital to begin thinking about long-lasting care insurance when you are still able to “health qualify”.
Insurers provide people who are in good health, discount rates on their premium that are locked in.
So, even when your wellness modifications, and of course everybody’s health does change, you’ll still delight in the savings. More importantly, you will have locked in your insurability. If you wait too long, and a wellness condition emerges that makes you uninsurable, it will be late to begin a policy.
Each insurance company sets their own acceptable wellness requirements so that is a fantastic a reason for you not to delay, and to start by speaking to a long-lasting care insurance broker professional who has access to several insurance business so that he can get a quote while the best of them are still ready for you. Advised AARP Long Term Care Insurance policies will help you to preserve your self-respect and your hard-earned cost savings if you need long term healthcare. Such policies have the versatility and monetary security to assist ensure you receive appropriate care.
Genworth is an insurance company in this market, which could be able to offer the options you need to help develop a customized strategy that can make it easier for you to help protect and secure a healthy monetary future.
If you ever have a long term health problem or a persistent condition, you may need prolonged care in the house, in an assisted living property or nursing home. Long term care insurance (LTCI) might assist cover these expenses, which can be high.
LTCI can assist you preserve your financial flexibility and provide you the flexibility to participate in choosing that influence your care– about the services you get, where you get them and who offers the care you require.

Clouds On The Horizon

We discovered the following statement online:
“At this time there are NO long term care insurance coverage backed by AARP. We can supply quotes for the companies that were previously supporteded.
The last company backed by AARP was Genworth Financial. Prior to backing Genworth, AARP supporteded MetLife, John Hancock, and Prudential long term care insurance.” http://www.insure.com/articles/longtermcare/insurance-companies-flee-long-term-care-business.html .
“The market is changing fast because of concerns over earnings, states Mike Skiens, chairman of the National Long-Term Care Network trade group. It’s getting harder to find LTC policies that offer lifetime advantages, leaving policies that offer just numerous years of protection”.
LTC policies are created to assist individuals who no longer have the ability to carry out the daily activities required to live independently. Their troubles might be because of aging, health problem or disabilities. LTC has strong appeal to individuals who are trying to protect their successors and estate from the draining costs of a long and significant disease.
Care covered by LTC policies typically isn’t covered by Medicare, which concentrates on rehab and short-term services. Medicaid doesn’t kick in until you’ve used the majority of your properties. Here’s more about lasting care insurance essentials.
Public policy interest in long-term care insurance has gradually enhanced in feedback to the increasing costs of in-home and institutional care.
Presently two-thirds of all retirement home residents are supported through Medicaid with less than 3 % of total nursing home expenses paid by long term care insurance. With the enhanced costs of long term care in institutional, community and in-home settings, public policy analysts are worried about how households will pay the expenses of long term care without spending down assets to get public assistance.
Regrettably many adults are uninformed that the expenses of personal support services which long-lasting health care services are not covered by Medicare or other medical insurance policies.
Recently Congress passed legislation to establish group long term care insurance strategies for federal workers. The federally supported statewide medical insurance details, therapy and assistance programs for older adults now consist of info about long term care insurance coverage also.

Questions and Answers

I am on long term disability. I am experiencing problems getting health insurance. Any ideas??I cannot get medicaid because I make too much money. I cannot draw medicare for two years. My major problem is prescription coverage. At this point I don’t care about hospital coverage. I have COPD so I have a lot of medications that I have to take to stay alive. Any help is greatly appreciated. AARP turned me down because I am on disability. I am 60 years old.

Posted by Katetrinity
Dan MoleMy mother had COPD, so I know a little bit about what you’re going through. You might want to try NeedyMeds (link below). It’s a site that has a lot of information on discount health care services – including medicine and health care services. Another support site you might be interested in is Bill Horden’s COPD Advocate (link below). There are other, more official support sites, but this one was a little different because of the personal touch it has. Mr. Horden has an article from the Wall Street Journal about possible ways to get help paying for medications. Also, I found the site to be touching – it offers several perspectives on struggling with COPD. I’d also call your state insurance department (link below) and ask them about possibilities. You might qualify for some other state-assisted health insurance program that’s not associated with Medicaid.Your best bet, though, with finding a private insurance solution is to talk with local health insurance agents. They have probably fielded your question before and might represent a health plan that can help you cover the cost of oxygen, drugs, and therapy to improve lung function. Try visiting MostChoice.com. It’s a Web site that connects state-licensed agents with consumers. There’s no cost to you, and you’re not expected to buy insurance from any of the agents that contact you. It’s a quick and efficient way to find out the answers you need because, chances are, your question will be answered in about two minutes after you start talking with a local agent. You can visit MostChoice here: Http://www.mostchoice.com/health-insuran… Take care. I hope this helps. Barnes @ MostChoice.com.
How do you get a good long term care insurance?I’m 73yrs old and am looking to get long term care insurance, I ‘m still in good health but want to look into it now.

Posted by al
Dan MoleNeither of the previous posters knows what they’re writing about. If LTC insurance fits into your budget, even very tightly, you have no choice but to get it. There’s a 70%+ probability that you will need care, and it’s likely going to cost in excess of $200,000. If you can afford this out of pocket, you can more easily afford the premiums.Don’t contact a company, and definitely don’t contact AARP. If you have a financial planner or advisor, they will be the best source for a recommendation. LTC plans are extremely complex, and provisions vary greatly between policies. If your advisor is qualified to help you with this, he will; if he is not, he knows where to point you.
How do you feel about AARP?GREAT LETTER TO THE AARPTHE AARP This letter to the AARP says it all. It is a must read regardless of your age. Some people just make sense in what they say. This lady certainly does. Please forward this to everyone on your contact list. This was sent to Mr. Rand who is the Executive Director of AARP Dear Mr. Rand, Recently you sent us a letter encouraging us to renew our lapsed membership in AARP by the requested date. I know it is not what you were looking for, but this is the most honest response I can give you. Our gap in coverage is merely a microscopic symptom of the real problem, a deepening lack of faith.. While we have proudly maintained our membership for several years and have long admired the AARP goals and principles, regrettably, we can no longer endorse it’s abdication of our values. Your letter specifically stated that we can count on AARP to speak up for our rights, yet the voice we hear is not ours. Your offer of being kept up to date on important issues through DIVIDED WE FAIL presents neither an impartial view nor the one we have come to embrace. We do believe that when two parties agree all the time on everything presented to them, one is probably not necessary. But, when the opinions and long term goals are diametrically opposed, the divorce is imminent. This is the philosophy which spawned our 200 years of government. Once upon a time, we looked forward to being part of the senior demographic. We also looked to AARP to provide certain benefits and give our voice a power we could not possibly hope to achieve on our own. AARP gave us a sense of belonging which we no longer enjoy. The Socialist politics practiced by the Obama administration and empowered by AARP serves only to raise the blood pressure my medical insurance strives to contain. Clearly a conflict of interest there! We do not understand the AARP posture, feel greatly betrayed by the guiding forces whom we expected to map out our senior years and leave your ranks with a great sense of regret. We mitigate that disappointment with the relief of knowing that we are not contributing to the problem anymore by renewing our membership There are numerous other organizations which offer discounts without threatening our way of life or offending our sensibilities. This Presidential Administration scares the living daylights out of us. Not just for ourselves, but for our proud and bloodstained heritage, but even more importantly for our children and grandchildren. Washington has rendered Soylent Green a prophetic cautionary tale rather than a nonfiction scare tactic I have never in my life endorsed any militant or radical groups, yet now I find myself listening to them. I don’t have to agree with them to appreciate the fear which birthed their existence. Their borderline insanity presents little more than a balance to the voice of the Socialist Mindset in power. Perhaps I became American by a great stroke of luck in some cosmic uterine lottery, but in my adulthood I CHOOSE to embrace it and nurture the freedoms it represents as well as the responsibilities it requires. Your website generously offers us the opportunity to receive all communication in Spanish. ARE YOU KIDDING??? Someone has broken into our ‘house’, invaded our home without our invitation or consent. The President has insisted we keep the perpetrator in comfort and learn the perp language so we can communicate our reluctant welcome to them. I DON’T choose to welcome them. I DON’T choose to support them.. I DON’T choose to educate them. I DON’T choose to medicate them, pay for their food or clothing. American home invaders get arrested. Please explain to me why foreign lawbreakers can enjoy privileges on American soil that Americans do not get? Why do some immigrants have to play the game to be welcomed and others only have to break & enter to be welcomed? We travel for a living. Walt hauls horses all over this great country, averaging over 10,000 miles a month when he is out there. He meets more people than a politician on caffeine overdose. Of all the many good folks he enjoyed on this last 10,000 miles, this trip yielded only ONE supporter of the current administration One of us is out of touch with mainstream America. Since our poll is conducted without funding, I have more faith in it than one which is power driven. We have decided to forward this to everyone on our mailing list, and will encourage them to do the same. With several hundred in my address book, I have every faith that the eventual exponential factor will make a credible statement to you.. I am disappointed as hell. I am scared as hell. I am MAD as hell, and I’m NOT gonna take it anymore! Walt & Cyndy Miller Farms Equine Transport.

Posted by Randa
Dan MoleWalt & Cindy are expressing what the majority of Americans are feeling at the present time. AARP has lost millions in membership by supporting the Obamacare. Senior citizens do have a right to be angry because they will get less care under the gov’t run health care plan. Ezekiel Emanuel (brother is Rahm Emanuel Obama’s White House Chief of staff) is a special advisor to Peter Orszag, director of the Office of Budget & Management to run the health care reform efforts.Here are a few quotes from Ezekiel Emanuel about seniors & special needs individuals. Emanuel believe that “communitarianism should guide the decisions on who gets care. Medical care should be reserved for the NON-DISABLED, not given to those who are irreversibly prevented from being or becoming participating citizens…and example of not guaranteeing health services to patients with dementia.” 1 Emanuel said “Unlike allocation by sex or race, allocation by age is NOT invidious discrimination. Every person lives through different life stages rather than being a single age. Even a 25yr old receive priority over 65 year old, everyone who is 65 yrs old now was previously 25 years old.”


Best long term care insuranceSo you want to know the best long term care insurance? That is not an easy question to answer, but, we will endeavor to do our best.
There are many top-rated insurance companies that provide affordable, but quality long-term insurance coverage. The key is finding an experienced full-time broker (or financial planner) that will help you compare your best options. We suggest that you search online for reputable companies in your area.Your budget, your present health record, and other factors, will be taken into consideration when you apply.
Part-time employees, don’t expect to be able to resolve your best choice from radio talks, tv commercial, or media coverage such sources and persons can not provide the detailed expert guidance that you will need. When purchasing long-term care insurance protection, it is important to make certain that the insurance company you select is both committed to the marketplace as well as being financially sound.
The best long term care insurance companies will have been listed and deemed by the industry-wide Association as leading long-term care insurance companies committed to the marketplace. For that reason you should visit your national body for long term care insurance providers. Request from them a designated long term care insurance list which only includes professionals working with the American Association for Long Term Care Insurance.

There Is No One Best Long Term Care Insurance – It Varies According to Your Circumstances and Needs

Your goal is to find through your broker, the insurance companies that are providing the most current and objective information to help you make the smartest decisions.

We suggest that you visit the American Association for Long-Term Care Insurance, which in fact does not sell insurance. On that site look for information or actual cost quotes from a leading expert licensed for your state complete their simple questionnaire.

Choosing the Best Long Term Care Insurance

First, most people just consider companies that have been rated “A++”, which means they are of the highest financial strength. It also means that they will be less likely to raise their rates after a few years, and they will cover you for either in-home care, nursing home care, or assisted living. The Best Age To Start Buying Long Term Care Insurance The prime age to buy is late 50s to early 60s.

So if you have aging parents, talk to them about it. It has been said that about one out of three consumers who call the offices of the American Association for Long-Term Care Insurance are frustrated. They want to buy protection. They even met with an agent and applied. But they were turned down by the insurance company.

The reason in most cases is that they are simply beyond the age when they will be able to make an adequate payment. That’s why we are keen to be sharing the following information about the best age to apply. So that this does not happen to you.

For families dealing with the need to provide long term care for a loved one, the financial impact and emotional strain can be significant. Long term care is necessary when illness, injury or age prevent a person from managing daily tasks like eating, dressing, bathing and transferring. The cost of such care can be high and may in the region of $90,000 anually for a private room at a nursing home. But the emotional stress on families can be equally difficult as preferences for the type and location of care may not match with the family’s ability to pay.

This is where long term care insurance companies can help cover the cost of care and reduce the emotional burden by providing insurance products specifically for long term care.

“When families work with long term care insurance companies to establish a plan, they can take steps to protect their financial future and the lifestyle they want to provide for their loved ones. And when families face the difficult choices around care for an ailing relative, long term care insurance companies can help provide more control over where and when to receive assistance and the type of care to be provided.” – States the John Hancock web page.


Long-term care (LTC) insurance is important coverage that provides valuable support and financial resources that help cover the cost of long-term care you might need in the event of an illness, accident, or through the normal effects of aging. By helping to protect your assets, and giving you choice and control over where you receive care, including the possibility that it may be in your home, LTC insurance helps you and your family face the future with confidence. The best long term health insurance can best be found through a trusted broker and these can be found through the links provided within this article.

Questions and Answers

What is the best long term care insurance?

Posted by Darrick W
Dan MoleThe kind that’s in force when you need to pay for long-term care.But, seriously folks…. Long-term care insurance is not an “off-the-shelf” commodity. To get the best coverage, you need to do a lot of homework and become an informed consumer on the subject. 1) Take the time to go online and get resources for your research. A good place to start is your state department of health website. Virtually all states have a section on issues involving the elderly where you will find information about late-life health problems and paying for care. 2) Order whatever free information you find there or copy and paste it to a Word file and save it in a folder that you create for “Long-term Care”. 3) After familiarizing yourself with the landscape, contact several nursing facilities and a couple of home care agencies in the location where the insured is likely to retire. Ask them about average costs and what insurance companies they like to work with…and ones that they don’t. 3) Find a competent long-term care agent, preferably one that has taken advanced coursework and is experienced in long-term care PLANNING, not just insurance. Make sure that s/he is an independent agent and can represent several highly rated insurance carriers that have long-time experience in the long-term care market. Examples: John Hancock, MetLife, Genworth (formerly GE) and Prudential. Every carrier designs their coverage a little different from the other, so it’s hard to compare apples-to-apples. The lowest premium is not always the best choice for your particular situation. The rest is up to you. Make your choice of contract design and insurance company based on sound research and a clear understanding of what the insured needs. This coverage isn’t cheap. But, the annual premium may be a lot less that even one month’s cost for home or facility care. Everyone over 45 should be seriously considering this type of insurance – both for themselves, or their parents.
Cancer 12 years ago, no recurrence, is that a disqualification for long-term care insurance?Family member had cervical cancer in about 1997, was treated and had no recurrences. Someone who works on legal issues for elderly indicated that long-term care insurers will blackball anyone who ever had serious cancer, even though risk is not above average now. Is that true? Or will some deny her and others raise rates? This has nothing to do with health insurance, just long-term care insurance.Thank you, Houyhnhnm.

Posted by Houyhnhnm
Dan MoleIt is challenging to qualify for Long Term Care Insurance. I believe some companies would deny her while others might consider her, however some carriers may write an exclusion to the care. The insurer will look at all factors, including, but not limited to, current health, age, smoker vs. Non-smoker, medications, etc. For example, if she smokes, she would probably get denied, as smoking is a higher risk for the cancer to come back. With that being said, a “yes”, or “no” answer to your question would be short sided. Other complications can occur as the result of Cervical Cancer and could have long lasting effects that show up later in life, depending on her severity of cancer. Also, what her follow has been with testing and did she complete everything the Dr. Recommended for further testing. I would suggest getting with a Retirement Planner that knows the world of Long Term Care Insurance and understands what carriers might be more lenient in this area. In addition, I would work with a planner that would present your family members case to the insurance carrier prior to filling out an application and going through the underwriting process, only to get denied. You don’t want a “denial of coverage” on your MIB, or Medical Information Bureau, particularly with Long Term Care Insurance and assuredly that would make getting Long Term Care near impossible. I sold Long Term Care for a top company and they literally denied 50% of my applicants, which wasn’t bad considering they deny 65% of all applicants. I was cautious in my field underwriting, however it always seemed like there were surprises. Make sure your family member is completely honest and upfront about all her medical ailments, otherwise you will be wasting her time and the planners time.
What’s the difference between Long-Term Disability Insurance and Long-Term Care Insurance?I’m 25, which one should I get, if any?

Posted by acohn83
Dan MoleLong-term disability insurance covers you if you’re unable to work. There’s different definitions of long-term disabled. For the first 2 years, it’s usually the “own occ” rule (own occupation), meaning you are covered only if you’re unable to work in the occupation you have skills/education for. After 2 years, it’s usually the “any occ” rule (any occupation), which means you have to be unable to work in any occupation. This is also based on your skills/education, so working at fast food place when you’ve got an undergrad degree won’t stop the coverage. There’s usually a long wait time until LTD plans kick in (6 months on average), but short-term should be covering you through that. LTD plans will usually only reimburse for 60-66.7% of your pay, up to a certain amount each month. Depends on the plan you get!Long-term care is for nursing home care primarily. At 25, you should worry about LTD insurance over the long-term care.

Planning for long term care insuranceLong term care insurance policies compensate policyholders a daily amount (up to a pre-selected limit) for services to assist them with activities of everyday living such as bathing, dressing, or eating. You can select a range of care choices and advantages that allow you to get the services you require, where you need them.

It is essential to plan ahead for long term care insurance. If you are in poor health or already receiving long-lasting care services, you might not get long-term care insurance as many specific policies require clinical underwriting.

Sometimes when applicants make late arrangement, you could have the ability to purchase no more than a restricted quantity of protection, or coverage at a greater “non-standard” rate. Some group policies do not require underwriting.

Plan Your Strategy Ahead for Long Term Care Insurance and Your Dignity

If you ever have a long term disease or a chronic condition, you could require extended care at home, in a helped living property or nursing home. Long term care insurance (LTCI) might assist cover these expenses, which can be high. LTCI can help you maintain your financial liberty and give you the versatility to participate in choosing that affect your care. It is all about the services you will receive, where you get them, and who provides the care you will need.

To view this on YouTube go to this Long Term Care Insurance Video

There are a range of reasons why long term care insurance is the ideal selection in many circumstances. The ability to maintain your quality of life and manage your situations in the event you require long term care is essential. For lots of people, long term care insurance could allow the security and self-reliance that is desired. Long term care insurance will assist preserve your self-respect and your hard-earned cost savings. It can give you the flexibility and monetary security to assist guarantee you get suitable care. Search for a policy which supplies the options you need, to assist you create a customized plan to make it simpler for you to assist shield and safeguard a healthy monetary future. Expenses build up rapidly when you can no more take care of yourself and your requirements surpass exactly what family and friends can offer. Retirement home, assisted-living centers and house care all are pricey, and there is no telling for how long you might require the service. Getting a long-term-care insurance policy, for many individuals, can be a way of making sure your future physical needs will be met. Policies developed in collaboration with state governments likewise give individuals and their families a means to safeguard cost savings in the event of have to finanace care expenses that are needed to pay for many years. Critics, nevertheless, say insurers are utilizing scare strategies to sell their items, which feature a hefty cost. For lots of people, these critics state, long-term-care policies are either unnecessary or expense more than their advantages are worth. They believe that a wonderful lots of people would be much better off essentially self-insuring or counting on government-funded programs. Someone with an extended physical health problem, a handicap or an intellectual disability such as Alzheimer’s disease commonly needs lasting care. Long-term care services might include help with day-to-day activities, house health care, respite care, hospice care, adult day care, care in a retirement home or care in a helped living center.

Long Term Care Protection Costs

The cost depends upon the amount and type of care you require and where you get it. In 2001, the nationwide typical expense of nursing home care was $56,000 annually, helped living facilities reported $22,476 annually and home care costs ranged from $12,000 to $16,000 each year, but that cost has increased considerably because. On another website we found the following estimate: “For example, typically, nursing facilities providing competent care charge $150 to $300 per day that is more than $80,000 a year. Even custodial home care at 3 check outs weekly can cost more than $9,000 a year. Many LTC insurance policies will cover only a certain dollar amount for each day you invest in a nursing facility or for each home-care browse through. Hence, when thinking about an LTC insurance policy, checked out the policies carefully and compare the advantages to figure out which policy will best fulfill your very own needs. To keep the cost down as far as possible LTC insurance is one choice lots of people opt to supply monetary protection only when they can no more perform one of the most fundamental functions of everyday activity. Seek out the very best independent recommendations online, and use the products you discover as a device to learn about long term care insurance and choose whether it’s ideal for you. Always remember to deal with a certified insurance company and/or representative when researching and buying any sort of protection.

Sources of Information About Long Term Care Policies

For people, the Internal Revenue Service thinks about tax-qualified long-lasting care premiums a clinical expenditure. To what degree that will conserve your money on your taxes mainly depends on your age and exactly how you earn a living.

If you work for another person and detail your reductions, you can deduct your long-lasting care premiums under clinical costs on Schedule A. However, because the long-term care insurance part is capped by age and because only the portion of your overall clinical expenses that goes beyond 7.5 percent of your adjusted gross income is deductible, few old people realize a full reduction on their long-term care premium. https://www.ahip.org/Issues/Long-Term-Care-Insurance.aspx The average cost of remaining in a nursing home for a year is in between $55,000 and $170,000, relying on where you live. For that reason, a concern that always comes up is: Should I buy lasting care insurance? Private long-term care insurance can help you prepare your financial resources for the future, however experts alert that you have to make sure when selecting a policy, due to the fact that unscrupulous insurers might attempt to make the most of your situation. To that point, it’s important to examine your options completely and request for referrals from people you know and trust. http://www.ag.state.mn.us/consumer/health/longtermcareins.asp

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