Things to Ponder in Buying Long Term Care Insurance Long term care insurance provides significant protection when the extent of disability or mere frailty curbs a person's ability of performing daily activities. There are number of pros and cons attached to long term care insurance; however, it is reasonable to secure meaningful golden years rather than suffer the burdening costs of LTC that can affect not just you but your family...more
The Benefit Period in Long Term Care Insurance The benefit period plays a significant role in determining the price of long term care insurance premiums. By having precise plan and sufficient knowledge on the benefit period, you can maximise your health coverage while save on LTCi premiums at the same time. The long term care insurance benefit period is the duration or length of time that the insurer will pay for your care. The period is...more
Long Term Care Insurance Keeps Up With Inflation Just like any goods and services, the price of long term care also increases due to inflation. And when this happens, the burden is saddled by many American adults who desperately need long term care. We all know that long term care insurance is expensive, and the rates could soar in a year or two. Buying a long term care insurance inflation protection as addition to your policy can help you save from future rates. And since many policyholders do not consume the benefits in many years, having inflation protection secures your policy against the rising cost of care. In its simplest explanation, the inflation protection increases your daily or monthly benefit amount (depending on your chosen percentage) that will compensate for the increased costs of care. Your benefits are increasing every year, but the premiums are guaranteed fixed. You could choose from the following:5% Compound Inflation Protection5% Simple or Equal Inflation ProtectionFuture Purchase OptionConsumer Price Index (CPI)3% Compound4% Compound Simple Inflation ProtectionThe benefit increases by the same dollar amount every year. For example, a$100 daily...more
Choosing Long Term Care Insurance Policy and Company Long term care insuranceseems complicated and risky if you lack understanding on how it works and how it can affect you. You should be careful in deciding which long term care insurance policy you should use and which insurer should you trust to. There are different types of long term...more
Long Term Care Insurance: What To Know The moment adults are inflicted with debilitating sickness and/or disability signals the need for long term care services to prolong their lives. However, these services are very expensive that an average taxpayer would find it hard to cope with the bills. Both institutional and residential care rates...more
The Underwriting Process in Long Term Care Insurance Underwriting in long term care insurance is important for the companies to assess whether or not the applicant deserves to receive coverage. This is a two-way relationship between the policyholder and the company; the former pays the premiums and accept the risks while the latter will pay out claims.Why underwriting crucialState insurance laws require that all individual policies be fully and medically underwritten. The insurance company must verify, through any legal means, the entire applicant's information including the medical history, lifestyle, and potential impairment prior to issuing the policy. This is necessary to protect both parties. Primarily, this protects the insurance companies from fraud wherein applicants fabricate information for them to take advantage of the coverage and mislead the insurer from providing claims. The company can freely deny claims from a policyholder who intentionally withheld any information that would have affected the policy. On the other hand, underwriting protects the policyholders in general. The price of premiums is affected by how much money the insurance expects to pay...more
The thread separating life and death is very thin! The thread separating life and death is very thin! We think we are immune to death. We forget it all the time yet it is very near, knocking at the door of everyone: It is time please.Once...more
Mortgage Life Insurance or Life Insurance, What Is best? We have heard it many times. You were just approved for a mortgage, and the lender or your fiends tell you that you should get mortgage insurance. So you call an agent or do a search...more
I Live Alone Do I Need Life Insurance? Copyright (c) 2010 Steve WentworthI'm a single home owner on a mortgage, is it necessary to have life insurance. Couldn't they just sell the house to repay the mortgage lender?AnswerAlthough...more
Would you be able to sleep easier at night knowing that you can save your loved ones additional grief when you die by simply paying a reasonable premium that will take care of all of your final expenses? If you are nodding your head in agreement...more
First thing first, is there such a thing as police officer life insurance? Not really, but there is such thing as the right company and underwriter for life insurance for police officers. Life insurance is life insurance no matter what other term...more
When no exam life insurance started to be offered, it seems that all that was available was fast online response companies. You got approved or declined on the spot. Insurance companies used simple cross reference methods to weed out individuals....more