A lot of people will need long term care at some point of their lives, but this should not threaten their finances saved for themselves and their loved ones. Nobody wants to see his or her assets put to waste for expensive long term care services. That's where long term care insurance works. These policies cover poliyholders with chronic illnesses or disabilities in a setting that they have chosen. What's good about long-term care policies is...more
The sale of long-term care policies in the past years lowered due to the wobbling economy and the staggering costs of LTC throughout the country. Many individuals are scared of investing on long-term care insurance, they believe that their lifetime savings are put to risk and there's no sense to buying LTCi policies. Otherwise, this misconception that LTC insurance will just drain a person's assets should be erased on everyone's minds; long-term...more
Some people choose to pay out-of-pocket expenses for their long term care, unaware of the financial disasters that could ruin their lifetime savings. After you've worked hard your entire life, it's distressing to see your entire finances used only for nursing care, although it has been saved up for your children's college or future business. Long-term care insurance saves you from the guilt of using your own money in paying for long term care services. Purchasing LTCi policies prepares you as time flies by when you will need long term care coverage for your chronic illness or disability. In fact, financial experts advise people who are in their late 50's or early 60's to purchase long-term care insurance. That age is a perfect timing wherein the cost of premiums is quite affordardable and the person's health is still good. There are three basic types of long term care insurance policies. All of these LTCi policies help you receive decent long term care at the time you most need it, but each types has its own role or variations. The type of LTCi varies on the person's needs.Reimbursement LTC Insurance PolicyThis type is the most common LTCi policy. As the name suggests, the policy...more
Life Insurance is kind of coverage that people purchase from the insurance companies that can be the source of protection and financial security of the family after his death. Basically, Life insurance is a security for the earning member of the family. That means if anything goes wrong with the person on whom the entire family is dependent, and if...more
Today, modern life completely depends on electronic gadgets that influence all age group and social group of people. People can buy latest gadgets from anywhere. They are available everywhere like online shopping, regular stores, market place etc. Widgets can be divided in many categories according to usage, choice, age group, social group,...more
Despite the recent volatility and looming uncertainty for America's financial health, trends show more Illinoisans turning to money market funds and Illinois life insurance policies. Analysts interpret these trends to suggest Americans are looking for fuss free stable resources for future financial contingencies.On Wall Street and at Chicago's Board of Trade, hedge funds, short sells married to an uncomfortably high unemployment rate are motivating consumers to rekindle losses with a new perspective on financial planning. Americans continue to fret about longer life expectancies, falling home property values, portending a future of sustained economic uncertainty.Consumers are turning to Illinois life insurance policies to provide a contingency plan in the event of death. Whether the Illinois life insurance plan carries a cash value to cover tuition, living expenses, and number of years, shopping for level term policies involves complex calculations.In America, life expectancies are on an accelerated course of extension. Statistics charted by the government funded Web site, depict that 13 percent of the population were senior citizens and with an average lifespan of 82 years old....more
So many Americans are worried about how healthcare reform will ultimately impact them. As we age, the potential for long term care needs becomes more and more of a concern.The biggest reason many people do not purchase long term care insurance is...more
Life insurance riders allow you to bring your policy to a custom-fit, adding whatever provisions and exclusions you require. There is a downside to making your policy non-standard, however, and that is that it can slow down your shopping process...more
Long term care insurance is a serious investment that entails time and planning. Premiums may be costly, but it is more practical to purchase LTC insurance than resort to paying out-of-pocket expenses. Good news is you can get discounts and save from...more
Most of us are counting on Medicaid, disability insurance, personal savings and other resources in battling with the challenges of old age. We rarely--or not at all-- think about the possibility of staying in nursing homes some time in the future, as...more
No one can escape old age, unless you die young. Long term care insurance is our most powerful defense when our age starts to wither and our bodies continue to shrink. Long-term care insurance can be absolutely expensive, but its cost pays off the...more
There have been so many debates as to the pros and cons of purchasing long term care insurance. Through the years, long-term care insurance is part of every household of aging individuals. There are so many advantages of LTC insurance that everyone...more