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Rogers Life Insurance Quotes - Columbus Life Insurance Company - Frederick Life Insurance Online 966

By: Yanna Goose

Baby boomers are called the sandwich generation because many are caring for an elderly parent with medical needs while putting a child or children through college. Would you consider having a home owners insurance policy a wise investment? If so, why?. New statistics: Even though long term care is associated with seniors and retirees, Unum, a major LTC insurance carrier, reports that in 2006 almost 58 percent of LTCi claims were for people under the age of 65. Isn't it because a good home owners policy can help protect against major damage to your home from fire, flood, and other disasters? Since a person's home is often their most valuable physical asset, it only makes sense to protect yourself against financial ruin that could arise if you had to pay to completely replace your home after a major catastrophe. Long term care insurance coverage simply MUST be considered by everybody who can medically qualify for this important coverage. Department of Health and human Services predicts that 40% of all Americans over the age of 65 will need Nursing home care. But in most cases, an investment is made in LTCi by folks who do have family and/or friends that conceivably could provide at least some level of care if needed. Long-term care insurance costs vary dramatically with one of the most significant factors being at what age you take out your long-term care policy. Likewise, you can't wait to invest in home insurance until your home is actually on fire and burning down, and expect to be covered. Many Insurance companies offer Annuities and Equity Indexed Annuities with a Nursing Home Benefit. Would you consider having a home owners insurance policy a wise investment? If so, why?. Second, some states promote co-op programs to encourage citizens to purchase long term care policies. It is wise to look for those that have the CLTC designation which stands for "Certified in Long Term Care". As with all types of insurance it is a good idea to shop around as the cost of long-term care insurance can vary by several hundred dollars at the age of 50 and as much as $700 or more if you take a policy out twenty years later. Yet, we still have no cure for Alzheimer's, Parkinson's disease, Multiple Sclerosis or many other illnesses that can cause a need for long term care. Take a look at the Stats and decide for yourself. Long term care insurance is nursing home and in-home care insurance. In Addition to the long term care benefit these annuities offer Tax Growth, Up to 10% Bonuses for the first 5 years and many other Benefits. According to the US Government 40% of the People Currently receiving Long Term Care Services are between 18 and 64. With good home health care benefits available in most long term care policies, this choice can become a reality. Spend down: You run the risk of having to spend down your entire life savings for long term care needs before you die, leaving nothing to your heirs or worse yet, to your surviving spouse. Beginning on the 101st Day you are responsible for all Long Term care Costs. Last but not least, tax-qualified long term care policies are tax deductible. Home care can cost $12000 or more per year (HIAA, Guide to Long Term Care insurance, 1999). Each year that you wait before taking out long-term care insurance is likely to result in an increase in annual premiums. According to a 1999 report from the National Council On Aging, 80% of all long term care is provided by family members, two-thirds of whom may still be working either full or part-time. Since so many of us are going to need long term care at some point, we have to wonder whether or not we should purchase long term care insurance. A Married couple would have to spend down 1/2 of their assets or more. If long term care insurance is affordable for you, you should definitely consider transferring that risk to the insurance company. With the rising cost of long-term care, it's important to start planning now for your future health care needs. If so, keep in mind that you can't get auto insurance to cover a major accident AFTER the accident has already happened, if you didn't have the insurance beforehand. In addition, the older you are the higher the risk of developing health problems that could increase the cost of your insurance premiums or prevent you from obtaining long-term care insurance altogether. Product and process development of various types of foods were Wills expertise. Many Insurance companies offer Annuities and Equity Indexed Annuities with a Nursing Home Benefit. And in these cases, an argument could be made that those who will benefit most are the loved ones who are not suddenly and unexpectedly thrust into the role of caregiver with very little training and preparation.

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