Tag: long term care policy

Long term care insurance as a combination with life coverage

New York Homeowners Insurance Rules

Do these two products mix effectively and will they benefit you? As the price of long term care insurance continues to rise, increasing by double digits each year, a number of families are beginning to seek out alternatives, which commonly includes a combination of life policies with the benefits of their LTC coverage. However, the policyholders for these combination products are now also facing notable increases. This fact, as well as the shrinking benefits that will be occurring over the next few months are causing many families to wonder whether…

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Long term care insurance most common claim is Alzheimer’s disease

Julie Campbell
Long Term Care Insurance

This form of dementia causes a significant percentage of LTC nursing home claims. According to an American Association for Long Term Care Insurance report, the leading cause of nursing home claims paid for by this type of coverage is Alzheimer’s disease. Just over one quarter of LTC insurance claims are the result of the mental illness. Data from the Alzheimer’s Association has shown that at the moment, there are 5.4 million people in the United States with the condition, and that one out of every eight older Americans has it.…

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Couples should consider shared long term care insurance

Long Term Care Insurance

Financial protection is less expensive when this option is selected. Though many people know that long term care insurance is a highly important element of financial protection, and that most will require it in their retirement, the cost of this coverage stops many people who should have it from buying it. Shared care is, therefore, becoming much more popular among married couples due to the savings it offers. With these joint LTC policies, a couple is able to purchase benefits that are combined between them and that can be used…

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Younger consumers are buying – and benefitting from – long term care coverage

Julie Campbell
Building Insurance Costs

Linked long term care coverage is starting to appeal to a younger audience due to claims with large payouts. In order to maintain coverage against the high costs of long term care, a growing number of national insurers are now offering a combination product that includes life insurance with the option for LTC benefits. This information was drawn from the 2012 Buyer Study, which was performed by the national trade group, the American Association for Long-Term Care Insurance. These products that offer linked benefits (also known as combination policies) are…

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Is the end approaching for long term care insurance?

H. Cutner
Long Term Care Insurance

Recently, those in the insurance industry have started to look into the future of long-term care (LTC) insurance and the possibility that its own future may not be as long as it could be, especially as one insurer after the next steps its way out of that particular sector. Throughout the last three years alone, MetLife, Guardian, Unim Group, and Allianz, have all backed out of the LTC business. Similarly, in March, Prudential stated that it would no longer be issuing individual policies for that form of insurance. The primary…

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Is it time to think about long term care insurance

Nordstrom

Among all of the different kinds of insurance given priority among Americans, long term care (LTC) insurance rarely makes the top of the list, but that doesn’t mean that it isn’t something that can offer great benefit. It is important to understand LTC insurance before buying a policy or failing to do so. While you speak with your insurance agent about your portfolio, it may be wise to consider LTC if it is something that he or she has recommended. All too many families have found themselves facing severe financial…

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Unique options for the U.S. long term care situation

H. Cutner

With medical care costs still skyrocketing, many older adults are concerned about whether they need to have long-term care insurance (LTCI). This insurance was created to cover “long-term” type care that would not be covered by Medicare or other regular health insurance policies. There are affordable LTCI plans, and there are other options you should know about as well.  In the state of the economy, people are wondering if they really need to continue to pay for insurance that may, or may not be needed as they get older. Long-term…

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