From: financial-planning.com
If not adequately planned for, a long-term care event can blow up a client’s portfolio. But just how expensive is long-term care and what costs should you help clients anticipate?
The answers vary widely across the country, within each state and by the type of care needed, though the costs of all types of long-term care are rising steadily nationwide. In particular,…
From: lifehealthpro.com
Nearly all of the recent news about funding options for long-term care tells a story of an industry on its heels. This is particularly true for traditional long-term care insurance (LTCI) products that are, essentially, health insurance policies that can be used to pay for costly end-of-life care in nursing homes or one’s own home.
The vast majority of major insurance carriers…
From: dailyfinance.com
Imagine this scenario: You’ll while away your golden years in excellent health and fair financial shape before dropping dead from a heart attack at 93. You’ll never need to spend any money on nurses and long-term care.
As far as plans for one’s eventual demise go, it’s a fairly upbeat one. And more and more baby boomers are realizing that’s probably…
From: www.thestreet.com
Life insurance policies that provide long-term care benefits are growing in popularity and attracting younger baby boomers anxious to protect their portfolios.
Sales of the policies, when measured by premiums paid, grew 20 percent last year over 2010, and the number of lives covered increased 13.5 percent, according to research by the American Association for Long-Term Care Insurance.
The association’s annual study also showed that…
From: elderlawanswers.com
Insurance agents and financial institutions often advertise annuities as the perfect way to generate retirement income. While annuities can be a valuable retirement tool, if you are buying an annuity as part of a Medicaid planning strategy, you need to fully understand what you are getting. And whether an annuity makes sense as part of Medicaid planning may depend on whether you are married…
| Traditional | Asset Based |
| Payment option (Pay premiums for life) | Premiums can be lifetime/continuous pay or can be limited to a certain number of years – single pay, 10 pay, etc. |
| Initially the premium is less expensive than asset based LTC insurance | Initially the premium is more expensive than traditional LTC insurance |
| Limited benefits | Benefits can be for the lifetime of the insured |
| Written only on individual lives | Written on individual or joint lives |
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