Long-term care insurance providers won’t tell you this
Long-term care insurance is a complicated product. Purchasing a new policy in today’s market is difficult, expensive and restrictive as providers scramble to stay ahead of the rising costs of care. Existing policies are impacted, too, with most older policies shifting almost beyond recognition thanks to exclusions, restrictions, inflation and changes imposed by the providers. […]
What does my long-term care insurance cover and is it enough?
Insurance policies tend to be complex, rife with limitations and exclusions, and long-term care insurance is no different. Many people purchased their policy many years ago and even those who have recently purchased their policy are often unsure about their coverage. The most frequently asked questions about long-term care insurance continue to be: What does […]
6 signs you might be waiting too long to join a Life Care community
Life Care communities come with an entrance fee that reflects the cost of homeownership in the area, so it’s not uncommon for prospective members to take their time deciding to join. “I’m too young and energetic to think about this kind of solution,” “I’m not sure we can afford it” and “I’m not ready to […]
Can I join a continuing care at home program if my spouse or partner doesn’t medically qualify?
Continuing care at home programs are ideal for those who want the benefits of an independent living retirement community focused on health and wellness, but aren’t interested in leaving their own home. They provide a wide spectrum of health and wellbeing services, such as nutritional coaching, functional ability assessments to ensure members are able to […]
Can I use a life insurance policy to pay for long-term care?
Can a life insurance policy be used to pay for long-term care, if someone finds themselves in assisted living, gets a medical diagnosis that makes it inevitable, or is simply planning ahead? It can…. With caveats. Cash-value life insurance policies One of the most exciting things about life insurance is the ability to purchase a […]
Is a Long-Term Care Insurance Policy the Same Thing as a Life Care Plan?
Long-term care insurance policies and Life Care plans might sound alike, but they are very different types of insurance. You can have one or both, depending on your health and financial means when you apply. I confess, I’m a worrier… and one concern I can’t seem to shake is the potential costs of health care […]
Can You Future-Proof Your Retirement Nest Egg?
You have a paid-off mortgage and a smartly invested nest egg you’ve spent a lifetime accumulating, but is it enough to fund the retirement lifestyle you want? For some, it’s the completely unexpected expenses that leave them scrambling: a spouse that passes away too soon, an economic downturn, memory care for dementia that could last […]
Understanding Long-Term Care Insurance vs. Life Care Plans
Understanding differences between long-term care (LTC) insurance versus Life Care plans can be a bit baffling. Many people are concerned about outliving their financial resources. What happens if I am diagnosed with Alzheimer’s disease? Would a health care crisis wipe out my estate? If I’m sent to a nursing home, how many days are covered? […]
Have I Waited Too Long to Purchase LTC Insurance (And Are There Other Options)?
Long-term care insurance can be a good option for older adults in good health who are planning for the future. However, if you wait too long to purchase LTC insurance, you may find that the cons begin to quickly outnumber the pros. For instance, the American Association for Long-Term Care Insurance recommends applying in your […]
5 Holes in Your Long-Term Care Insurance
With 70 percent of people over the age of 65 needing some form of long-term care in their lifetime, investing in long-term care insurance can be a helpful way to minimize future financial strain. Unfortunately, even the best long-term care insurance plans aren’t comprehensive—and you don’t want to be surprised by unsuspected holes in your […]
