Tag Archive | long term care policy

“The reports of my death have been greatly exaggerated.”–Mark Twain

For years “experts” have concluded that the long-term care insurance industry is dead.  Here are some of the headlines: “What’s killing the long-term care insurance industry?”  Aug. 2012 “Long-term care insurance begins to fade away”–New York Times, Nov. 2010 “When a Safety Net is Yanked Away–is Long-Term Care Insurance Doomed?”–NYT Nov. 2010 Crumbling Economics Undermines […]

Sometimes even smart people don’t understand long-term care insurance–even if they write for a leading magazine

I understand that journalists don’t have time to check all their facts, but this recent article in Forbes is riddled with falsehoods and half-truths.  It doesn’t even read like something a journalist would write.  It sounds like he’s just a salesman hawking for “longevity annuities”. If you want to suffer through the article in one […]

4 Reasons why a 90-day Elimination Period usually makes the most sense

4 Reasons why a 90-day Elimination Period usually makes the most sense: A 30-day Elimination Period usually costs about 20% more than a 90-day Elimination Period.  If you’re going to spend 20% more premium, you would be better off buying 20% more Daily Benefit.  Would you rather have a policy that pays $200 per day […]

Another elder law attorney weighs in on long-term care insurance

Mark Clements, an elder law attorney in Lakeland, Florida, has been practicing elder law for over 30 years.  Here are his thoughts on long-term care insurance: “Having practiced Elder Law for more than thirty years, it becomes more and more apparent to me that our current “needs based” system that provides government benefits to pay […]

Federal audit reveals LTC insurance claims practices

When someone contacts me to inquire about purchasing long-term care insurance, one of the questions I’ll ask is:  “What prompted you to look into long-term care insurance?” Over the past few years many of my clients have been answering that question like this: “Well, my dad has a long-term care policy and it’s paying for […]

Which is better: A Group LTCi policy or an Individually-purchased LTCi policy?

A healthy, married couple can usually get better benefits by purchasing a long-term care policy on their own, rather than buying a group long-term care policy through their employer. Individually-purchased long-term care policies usually offer: Preferred health discounts that save you as much as 25%, and Marital discounts that can save as much as 40%. […]

What is the “Elimination Period” in a long-term care policy?

The Elimination Period is similar to a deductible. The Elimination Period is the number of days you receive qualified care before your long-term care policy will begin to pay benefits. The shorter your Elimination Period, the higher the premium.  The longer the Elimination Period, the lower the premium Most policies offer several choices for the […]