Battling with old age is arduous as your body weakens and your mind deteriorates. You wont be able to perform activities like normal adults, and you are dealing with death every time you digress all the things that are happening to you now. Another thing that makes you uncomfortable is the cost of care that can instantly sweep out your finances, no matter how hard you try to skimp on the expenses. Even the short term nursing home stay can rip...more
When we talk about long term care, most people normally raise their eyebrows and pretend not to care. Although the need for long term care is obviously high and important, many elders choose to remain at home and receive traditional care to keep their assets untapped for their childrens future. Some experts say that the next financial crisis is not recession; its the cost of long term care. In 2004, MetLife conducted a survey on the cost of long...more
Those who are still scratching their head whether to get long term care insurance or not, there are good reasons why you have to purchase it now. Did you know that you can reap tax benefits out of your long term care insurance?Tax Benefits for Qualified PoliciesQualified long term care policies are subject to federal income tax breaks, and it can also qualify for state income tax breaks (depending on the state where the policy is purchased). All qualified policies must be certified renewable without cashing out any amount. Most insurance companies nowadays sell qualified policies, but dont to forget to ask how the tax break works and its rules. Qualified Policy Benefits are Income Tax freeBenefits that are paid out in qualified policies are generally federal income tax free because they are considered reimbursement for medical expenses. In 2009, this tax benefit works on benefits of $280 per day and above. The benefits above the cap are still accepted as federal income tax free, provided that they would not surpass the total long term care expenses. If you collect the long term care insurance benefits in a certain year, you should receive the next year a Form 1099-LTC that...more
Most long term care insurance policies trigger claims when either of the two events occurs: severe cognitive impairment and loss of two of daily activities or ADL. Heres how claims process work:Inability to Perform Activity of Daily Living (ADL)Under federal and state law, activities of daily living include bathing, continence, dressing, eating,...more
Not everyone can qualify for long term care insurance because most insurance companies impose strict rules to filter out only the deserving ones. Health and financial qualifications are important keys to getting LTC insurance coverage.Medical QualificationsMost long term care insurance relies on medical underwriting as the basis whether the person...more
Are you looking for affordable term life insurance but you dont from where to start the search. Nowadays there are thousands of people who share the same feeling. The good news is nearly all the people love to find affordable term life insurance policy. First of all it is really important to understand some really important factors. When you look for life insurance there are some process from which you have to go through that tells yours insurability. This process actually involves answering some questions made to determine the rate based on the multiple factors. This includes the medical history of yours that whether you drive motorcycle, whether you smoke or not, participate in extreme sport activities that will affect all potential rates in number of ways. This way you can get the life insurance agency which offer cheap term life insurance. You cannot lie on the application. incase you tell lie at any point on the application in order to get affordable term life insurance then you will not get any coverage amount from your life insurance provider. And at the end you family will be payment in case if it is felt that you lied on application. The best means to find affordable term...more
In todays ever-evolving world, gadgets have made an important place in our lives. Be it any occasion, people love to gift each other various types of gadgets that include latest electronic gadgets, toys for boys or any other gift. If you log on to...more
Having insufficient life insurance can have a devastating impact upon your family should you suffer an untimely death. However, at the same time purchasing insurance that you don't need is always going to be a complete waste of money. As such knowing...more
As one gets of age they tend to start thinking about their families future without them. Life insurance, whether term life insurance or whole life insurance, is very important if they are the primary financial provider in the family. However, the...more
When they reached a limited age they tend to start thinking about term life insurance or whole life insurance for their families future without them. It is very important if they are great financial source for their family. Life insurance varies not...more
Do you want to get long term insurance, but are having a hard time deciding if it is in your budget? Then you have to know the factors that influence the long term insurance cost.If you are just smart about it, you really can afford it...more
At some point everyone or couple will need to request themselves: "How much life insurance coverage do they really require?" There are a great deal of problems to be handled here and it can make a huge distinction in the quantity you...more