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
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…
Read MoreLong Term Care Insurance Premiums on the Rise
Many big name insurers are getting out of the long term care business, referred to as LTC, due to a struggle to make a profit – names like Aetna, Metropolitan Life and Equitable Life. One can’t ignore, this business is in bad shape. Many that are still in have been pushing their rates up – in fact John Hancock just asked for another rate increase of close to 40% in order to make ends meet. Presently, the sector views their industry in an investment snare. “Between half and two-thirds…
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