| |
|
Article Directory :: Finance & Investment Articles
LONG TERM CARE INSURANCE A brief look at LTC coverage and the compelling reasons for it.
With many more Americans living past age 80, the need for long term care is rising, and so is the interest in long term care insurance. Yet, a 2006 AARP study noted that most Americans surveyed were underestimating the rising costs of LTC, and presupposing that government programs would provide adequate assistance.
The different care options. Most people assume LTC insurance pays only for nursing home care, but that is inaccurate. Insurers and healthcare providers commonly define long term care as assistance provided to someone with a condition or illness that limits their ability to perform normal daily activities. LTC insurance can also help pay for rehabilitative care, therapeutic care, and various types of assisted care in the home.
The financial relief. What does one year of care in a nursing home cost? What would you guess? What, $40-50,000? Think more. A survey conducted by MetLife back in 2004 found that the average annual cost of nursing home care was $70,080 per year, and that the average cost of a home health aide was $18/hour. (Costs were cheapest in the South.) Given these costs - rising at approximately 6% per year - insurance and investment professionals urge their clients to look into LTC policies.
Premiums and choices. Your age, the amount of the daily benefit and the length of the deductible (0-180 days) determine your premium. Most LTC policies are indemnity or expense-incurred policies that pay fixed dollar amounts per day, week, or month (often $50-300 per day). Integrated or pooled-benefit policies allow you to assign percentages of your benefit to pay for different types of LTC services. While benefits are usually inflation-adjusted, LTC insurance policies are not guaranteed to cover all LTC expenses. (Some standard life insurance policies also offer LTC benefits; ask for your insurance agent for the details on your policy.)
What will Medicare do? Not much. Medicare does not pay for standard, custodial nursing home care. Medicare will pay for skilled nursing care or home health care only after you have spent down your existing assets to meet state and federal guidelines.
If you have questions about long term care insurance or face oncoming or immediate long term care issues, be sure to talk with a qualified insurance or investment professional today who can tell you about your options in LTC coverage.
Indiana Partnership. Indiana has a very special state sponsored plan called a Partnership Plan. The Partnership Plan may effectively protect an individual's assets and still allow him/her to receive the benefits of Medicaid. Indiana residents should be sure to research this type of policy with a licensed planner.
Bryan Laverman is a well-known financial advisor in the Northwest Indiana area specializing in the preparation of comprehensive financial plans. You can find more information by viewing http://www.bryanlaverman.com .
These views are those of the author and should not be construed as investment advice. All information is believed to be from reliable sources; however we make no representation as to its completeness or accuracy. Please consult your Financial Advisor for further information.
 EasyPublish™ this article - publishers click here
More articles by Bryan Laverman
|
Free Report!
Ten Essential Secrets Of Article Marketing ... Grab Your Free
Copy Now:
Need Content?
Regular Top Quality Content for your Blog, Ezine or Website ...
Delivered Direct,
For Free!
Click For Details
Arts & Entertainment
Automotive
Business - General
Computers & Technology
Finance & Investment
Food & Drink
Health & Fitness
Home & Family
Internet Marketing/Online Business
Legal
Pets & Animals
Politics & Government
Reference & Education
Religion & Faith
Self-Improvement/Motivation
Social
Sports & Recreation
Travel & Leisure
Writing & Speaking
|
More finance articles: - Lucrative Trades in Forex - Finding the Right Forex Trading Software System (Wilson Trat)
Compared to trading stocks currency trading gives you big rewards. The main genuine advantage is that the sum of money you need to trade is extremely small. If you were ever going to get involved in forex trading, now is the time. However, you're going to have to find the right forex trading software system to be successful. - Creating a Budget that Works (Molly Wider)
Budgeting is about sacrificing, right? Wrong. Budgeting is about enjoying the results of a well planned financial strategy. If you think of budgeting as the ultimate cut-the-expenses experience, you'll never make it. Depriving yourself completely of indulgences is not something that will provide financial gain; at the contrary, it may very likely lead you to abandon your budget completely just out of frustration for lack of rewards. - Here's How Ordinary, Everyday People Are Making Money With Penny Stocks! (Grant Dougan)
One of my favorite investment types are penny stocks. Some investors stay away from these types of shares since they believe that they are risky. Don't let yourself be nervous though - you will earn incredible cash if you know how to find winners. - Daytrading Using Mean Reversion Strategies (Scott Cole)
Mean reversion is just another strategy that daytraders include in their arsenal when attacking markets on a daily basis. The opposite of the momentum type strategies, it is a good way for the daytrader to diversify and be able to find opportunities on a daily basis. - Fibonaccial Trading Techniques For Forex (John Eather)
Fibonacci was the great mathematician from Italy. He founded the new sequence of numbers and it was named after him called as fibonacci. The 0, 1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144, 233, 377,610 etc are the numbers of this sequence which has the starting of 0 and 1. Each number in this sequence is the sum of the preceding two numbers. - Forex Trading - The Market Is Not Your Enemy (Jay Meisler)
Every trader at one time or another has had a bad trading day that makes him feel like the market is his enemy. This article uses an example from a forex trading day to describe some of the conditions when this might occur and what a trader might be going through during this time. The goal is to create an awareness and to emphasize that the market is not the enemy. - Discovering the Pros and Cons of Using a Prepaid Credit Card (Tara Tiemann)
Prepaid debit cards are becoming a popular way to pay purchases and bills. It works like a credit card but instead of paying at a later time, a prepaid debit card can only be used if there is a deposited amount of money in your account. This article will enumerate the advantages and disadvantages of using a prepaid debit card.
We Automatically Distribute Articles
To Thousands Of Publishers And Web Sites:
Submit Article
All content is viewed and used by you at your own risk and we do not warrant the accuracy or reliability of any of the information. The views expressed are those of the individual contributing authors and not necessarily those of this web site, or its owner, Takanomi Limited.
|
|
