Do you Need Long Term Care Insurance?

24. April 2010 · Comments Off · Categories: Insurance · Tags: , , , , ,

Chronic illness and disabilities force people to seek Long Term Care services. Help with daily activities such as eating, bathing, using the bathroom, dressing, moving from bed to chair etc. is termed as long term care. Medicare covers only skilled care and does not pay for help with dailiy activities as it is not skilled care. Help in your own home or in an assisted living centre is not covered by Medicare. Medicaid comes into effect only after all of a person’s assetts, savings and dignity are wiped out.

Long Term Care Insurance pays for costs resulting from long term care. As life expectancy increases so does the need for help with daily activities. Baby boomers by 2030, will reach the age of 65 and 40% of them will live to be 90. 70% of people over the age of 65 will become to depend on help with their daily activities. At anytime accidents and injuries can happen to anybody forcing them to become dependent on these kind of services.

Working adults between the ages of 18 and 64 form 40% of people receiving assistance with their daily activities. Buying long term care insurance at a young age locks in rates that can not be found as you grow older. You can not buy this kind of insurance only at the time you need it or at a time of crisis.

Children or family would like to help. But children will have children of their own or cannot quit their jobs to care for their elderly parents. An insurance with the maximum coverage gives you the financial freedom to choose the kind of services you want and where you want to receive it.

No one desires their life savings go towards hospital and assisted living bills instead of their family. With long term care insurance your assets are protected and you will still have your savings to enjoy should you overcome the need for help with daily activities when you recover.

Looking to find the best deal on Long Term Care Insurance policies, then visit www.olongtermcareinsurance.com to find the best advice on buying Long Term Care Health Insurance for you.

Long Term Care Insurance — What Distinguishes It From Conventional Health Insurance Plans?

16. April 2010 · Comments Off · Categories: Insurance · Tags: , , ,

Some folks think that their health insurance policy is good enough for long term care. A comprehensive health insurance plan will only give you coverage for not more than 90-120 days. This makes this policy a very important part of any solid financial plan — More so, where you have a history of debilitating disease in your family.

In order to ensure that I don’t give misleading information, take note of the following: Once the type of care you’re getting is purely medical, it still falls under your standard health insurance irrespective of the length of time. However, for long term care usually in the form of assisted living, it comes under a long term care insurance policy.

So what is assisted living? Since assisted living is the major separating line, what really amounts to assisted living? If a person needs assistance to eat, dress up, take his/her bath and so on due to old age or a health condition like stroke, then such a situation is assisted living.

While in most cases such care is given by family members, it does have a disorganizing effect both emotionally and socially. So, in most cases, professionals in this field are called in. You can imagine the cost of paying for this kind of specialized care over the period of a year or two out of the pocket.

Furthermore, using a nursing home for a year could cost a couple as much as $180,000. Anyone who isn’t ruined by such heavy expenses is definitely a very rich person. So long term care insurance is a good addition if you have substantial assets but can’t handle such expenses.

If you forget everything you’ve read don’t miss this: Even if yours is a very comprehensive health insurance plan, it will only give coverage for non-medical care and assisted living for at most 120 days. On the other side of the coin, don’t let anyone make you believe that you can dump your health insurance plan and get a long term care insurance policy. These two policies take care of two different sets of needs.

Also note that as good as it is, long term care is NOT a policy for everyone. If you are very rich and can easily afford to spend $100,000 a year for long term care you don’t need long term care insurance. If you’re also so poor that you really qualify for Medicaid, then you don’t need long term care insurance.

If you need long term care insurance and want to save much, visit and get long term care insurance quotes from at least three quotes sites. Evaluate the quotes you receive and pick what represents the best combination of adequate coverage and affordable rate.

Go to the sites below and you’ll be sure of very low rates. affordable health insurance and low cost health insurance. Chimezirim is a proven expert on steps that guarantee lower insurance rates.

categories: long term care insurance,health insurance,insurance,health

The Insurance Sector’s Closely Held Secret That Costs People Serious Losses

12. April 2010 · Comments Off · Categories: Insurance · Tags: , , , ,

Auto insurance is mandatory if you must drive in most places. Also, getting adequate home insurance is prerequisite to getting a house loan. The importance of having a good health insurance plan is also well appreciated. Haven’t you been told that these three are the most important policies? You’ve been lied to albeit inadvertently. So which policy is more important than any of the above three? Read on to find out more…

Since insurance is meant to protect you from risks, it is safe to say that the necessity or otherwise of any policy is a function of the risk you’re exposed to without it. So if a person knows by some divine touch they will NEVER EVER fall sick in their entire lives, then such a person should NOT buy a health insurance plan. Since this is intended to be something practical and NOT an academic exercise, let’s look at the likelihood that you’ll need various policies fully…

There 1:1200 probability that your home will lost due to a fire, flood or an act of God. The odds that your vehicle will be totaled are 5:1200. It’s 105:1200 if it’s the odds that you’ll need hospitalization in your lifetime. But consider that the odds that you will need long term care some day is 720:1200. The only policy that has a 1:1 ratio is life insurance (excluding term life policies) since you’ll die some day.

But have you noticed? It’s almost safe to say that the hype on a policy is inversely proportional to its necessity. If you look closely the profitability of a policy seems to be the motivation for the average insurer.

Otherwise, long term care insurance should be the most popular policy (Or second only to life insurance for those who want to protect those who survive them) and closely followed by health insurance. However, we all know that this is NOT the case.

Make NO mistake about it: You can’t get long term care insurance on the cheap. Therefore, most people simply live in denial about their needing it at some point in their lives (Especially as they grow old and become frail). Does this do anyone any good?

Unless you have very few assets and are poor enough to qualify for Medicaid, then the odds that you’ll need long term care is simply too high to ignore. Will you consider yourself smart if ignored getting home insurance coverage even though the odds that you’d lose it to a fire stood at 720:1200? But is any property (even your home) worth as much as your life?

The choice is yours. But for those who know its importance and are looking for ways to get it at cheaper rates, the following tips will help…

1. Buy it as soon as possible. If you’re up to 45 years, it’s a good time to start thinking about it.

2. A good BMI (Body Mass Index) will help you attract lower rates.

3. Quit smoking and ensure you’re nicotine free before applying.

4. Anything that will raise the odds that you’ll need long term care sooner will raise your rates. So do what you can to avoid them.

5. As for all things, shop and you’ll save much. Don’t fail to get and evaluate quotes from a wide range of insurers. Don’t forget that this simple process will save you several thousands in premium dollars over the years if done right.

Visit these sites and you’ll get very cheap rates. affordable health insurance and low cost health insurance. Chimezirim is a proven expert on steps that guarantee lower insurance rates.

categories: long term care insurance,life insurance,health insurance,insurance,health

Long Term Care Insurance — Time-Tested Steps To To Big With Sufficient Coverage

05. April 2010 · Comments Off · Categories: Insurance · Tags: , , ,

Long term care insurance is a really important but expensive policy. Will you want to get lower rates? Below are tips to help you in that quest…

1. Just as with every other insurance policy we know of, you’ll enjoy lower rates if the company you work for has long term care benefits through a group policy. This option helps you save because the company might likely take care of part of the cost. Also, insurance carriers usually give groups rebates in order to woo more members of such groups.

Look for any opportunity out there for a group long term care policy. It will help you save much. However, make sure it’s sold by a carrier that’s been long in the business and is financially strong enough to serve your best interest for a long time to come. This is crucial since it may take a few decades before you file a claim.

2. A number life insurance policies or annuities make room for you to include long term care benefits as a rider. Check if yours has this provision. If you’ve yet to purchase any of these then it will make sense to ensure you only buy a life insurance policy or annuity that either has long term care include or allows you to add it as a rider.

Why does this result in cheaper rates? It’s simply because it’s cost-effective for an insurer to combine both in one policy than to sell both as individual policies.

3. Similar to how a higher deductible will reduce your rate for other insurance policies, a longer waiting period will lower your long term care insurance premium.

If two customers of exactly the same profile choose exactly the same coverage amount with the only difference being the waiting period, the customer with the longer waiting period will enjoy a better rate. For example, let’s say the first person chooses a 30-day waiting period and has to pay a premium of $3,000. If the second person opts for a 90-day waiting period, he/she would get a premium of $2,100 — $900 cheaper.

But as you use this opportunity to save, remember that you’d have to make provision for your long term care expenses for the selected waiting period.

4. For people who are married, you can pay a lot less for long term care insurance if both of you purchase a joint policy. With such a policy you’ll catered for if either or both of you need long term care. Howbeit, while buying this kind of policy be very careful and ensure the needs of both of you are well covered in the fine print.

Below are other factors that will affect your long term care insurance rate…

1) Your BMI

2) Smoking and the use of tobacco

3) Alcoholism or Drug Abuse

4) Multi-policy discount

And whatever you do, don’t forget to obtain and compare quotes from a wide range of insurance carriers. This will save you thousands of dollars over the years.

Are you tired of paying too much? Then make it a point of duty to save much by visiting the sites following: low cost health insurance and cheap health insurance. Chimezirim operates many sites that teach you how to save on insurance.

categories: long term care insurance,health insurance,health

Long Term Care Health Insurance Review for Starters

19. March 2010 · Comments Off · Categories: Insurance · Tags: , , , , ,

Buying long term care insurance policy involves research and then choosing one with the maximum coverage. Consider your current financial situation, your savings and assets, and how and where you want to receive your long term care. Buy a long term care insurance policy from a financially sound company and with a good rating to ensure that the company from which you are buying your policy will be around when you want to receive your benefits. Look for long term care insurance reviews to understand the claims process and find out how many filed claims have been paid by the company.

The maximum daily benefit of your Long Term Care Insurance policy and the cost of long term care services in your area affect your long term care insurance quote. Keeping inflation in mind seek a Long Term Care Insurance policy that factors in the inflation rate in its premium. If you don’t keep inflation in mind while buying Long Term Care Insurance policy, you will be left with too little money too late.

Become familiar with non-cancel and guaranteed renewable Long Term Care Insurance policies so that your policy is not canceled just when you need it the most. A Long Term Care Insurance policy which provides coverage if you become unemployed and works along with your Social Security is preferred.

Some Long Term Care Insurance policies have an option to choose a 10 year or paid up by age 65 payment plan and the freedom to choose the benefit payout – either reimbursement or indemnity. Other factors to consider are, Long Term Care Insurance policies with the option of applying for additional coverage without providing proof of medical insurability every year for a specified number of years. You want to receive your Long Term Care Insurance benefits if you experience an income loss from either a partial or a total disability.

A Long Term Care Insurance policy with the maximum coverage gives you the financial independence and dignity when you have the option of being able to go where you want to go instead of going where you are taken. Long Term Care Insurance policies with fixed premiums and stay in force as long as you pay the premiums not only protect your assets but should you overcome the need of long term care, you still have your savings to enjoy when you recover.

Maria Smith’s often writes about long term care insurance.

categories: long term care insurance,long term care,long term care health insurance,insurance,health,retirement

Baby Boomers What’s After The Bang: Growing Older

17. March 2010 · Comments Off · Categories: Insurance · Tags: , , , , , , , , , , , , , ,

While you age, the concept that you may not have the ability to take care of yourself or live on your own becomes more lucid. The decision to give up your private home may be one of the hardest decisions that you’ll ever make. But do you realize that you might not need to give up your private home right away? It’s true. Knowing what the different aging care choices are can help you make the decision that gets you the right level of care for your stage of life.

Don’t forget- in case you are selecting a health care facility or care method for a loved one, you need to be realistic. It might be hard to accurately view the health needs of a parent or relative since you want to think they are capable and in good health. But ignoring the needs of certain medical conditions, whether the wandering tendencies of an Alzheimer’s patient or the tremors of a person with Parkinson’s can actually do them harm.

Do you feel that you’re in good health but need assistance with daily chores and tasks? In case you are still mentally aware, have good balance and mobility, and are not within a altered mental state, you could probably remain in your home and simply hire a nurse to come in. This can be great for some health conditions such as diabetes, where some specialised foot care may be needed but overall health is still fairly good.

There are also retirement homes, which may also be called assisted living facilities. These are fantastic if your health is good but you no longer want to live in your home or you want more companionship. One of the biggest problems that many elderly people can face is the feeling of isolation and the depression it can bring. Facilities where you still have your own living quarters but are around other people and can take part in activities may be what you need. Many retirement residences are now installing an alarm system into their residents’ rooms so that if there is a medical emergency, staff can be alerted with the press of a button.

The next step in aging care is normally a nursing home. This is often reserved for people who are physically unable to care for themselves. You will often live in a ward, although some facilities do have private or semi-private rooms. The facilities are often set up more like a hospital than an apartment complex. They normally have ways of handling people with diseases like Alzheimer’s or dementia, since these individuals like to wander and may need watching and extra security measures.

If your loved one is very ill you may be forced to consider palliative care. This can be a heartbreaking decision since, by admitting palliative care is needed you are admitting that there is little to no chance your loved one will get better. Palliative care arrangements should still ensure that your loved one is well cared for and that there is mental or physical stimulation when that is possible. Remember that you never know how long your loved one has left so you should plan for them to be as comfortable as possible for as long they can.

By asking questions and making sure that the facility you ultimately choose meets the requirements and lifestyle of your loved one, you can find the best aging care available. New facilities are being built on a regular basis and as technological and medical advances continue your immediate future has never looked better.

Before you decide to go out and buy a policy see if you qualify for long term care insurance, ask questions and request a long term care insurance quote. We represent 20 of the top US LTCi providers. This gives you tremendous options.

categories: aging in america,long term care insurance,baby boomers,seniors,health,financial,retirement,family,long term care,financial planning,lifestyle,education,consumer guide,asset protection

Taking Care Of The Maturing Is One Of The Top Health Care Concerns Today

16. March 2010 · Comments Off · Categories: Insurance · Tags: , , , , , , , , , , , , ,

When you age, the concept that you may not have the ability to take care of yourself or live at home becomes clearer. The alternative to give up your own home may be one of the hardest decisions that you will ever make. But were you aware that you might not have to give up your home right now? It’s true. Knowing what the different aging care choices are can help you make the decision that gets you the right level of care for your stage of life.

You need to understand that there are different options that may suit some people better than others. Specific health problems may require specialised care especially in the later stages of some diseases. Conditions such as Alzheimer’s and Parkinson’s may mean that customized health care approaches are necessary.

There are different levels of care that aging adults may want to explore. If you are in reasonably good health but need help with some chores and tasks, you may want to consider having a housekeeper or cook come into your home. There are companies which offer support staff in order to allow people to remain in their homes as they age. This can give seniors a great feeling of independence and pride.

Once you are in a position where you are no longer willing or able to live in your home, consider moving into an assisted living facility. These allow you to have your own private room but you have the security of round the clock emergency monitoring. Depending on the facility you are living in, there are usually meals served in a communal dining room, and housekeeping services to keep your room or apartment clean and in good condition. These facilities also usually offer organized activities such as shopping trips, movies and other fun things to do. This keeps your mind and body active.

Nursing care facilities may be the next step that you will consider. Normally, a person is admitted into a nursing home when they have significant physical or mental impairments that make any level of self-care impossible. They usually have less segregated living arrangements and activities which are less varied or active. People who are suffering from altered mental states due to disease or the after effects of a stroke may require a room in a nursing facility.

Palliative care isn’t simply for ones aging. It provides quality end of life care to those who are expected to die imminently. This may include people suffering from cancer or other diseases. This type of facility is often a facility of last resort, when people are too ill even for a nursing home. Often people will pass away in a nursing home rather than in palliative care but if a disease is very advanced, they may be moved either to a separate facility or to a designated area of a nursing facility.

You have to think beyond the immediate situation when determining whether a certain aging care arrangement is good for you. By studying the aging process and any specific needs you have, you will discover a facility that will help you grow old gracefully and enjoy any remaining years you could have.

Before you go out and buy a policy see if you qualify for long term care insurance, ask questions and request a long term care insurance quote. We represent 20 of the top US LTCi providers. This gives you tremendous options.

categories: insurance,long term care insurance,baby boomers,seniors,health,financial,retirement,family,long term care,financial planning,lifestyle,education,consumer guide,asset protection

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