Long-term Care Insurance Explained: What It Is, Types of LTCI Policies & What to Consider
What It is For long-term care, health insurance is vital, and LTCI (or Long-Term Care Insurance) can be an effective tool for protecting your assets and estate from the high costs of senior care. The best long-term care insurance should cover many care solutions, and even if you don’t think you need it now, it’s best to purchase LTCI early on. Though the average nursing home length of stay is significantly higher than most people believe, 2.4 years according...Read the rest of this article »Related Articles
Long Term Care Insurance: How to Choose the Best Elimination Period
In a long-term care insurance (LTCI) policy, the elimination period is often referred to as the policy deductible. In many ways it is similar to the deductible used in major medical insurance policies. One significant difference is this: rather than a certain dollar amount that you will initially pay for your own care expenses, there is a specified number of days for which you will be responsible for your own care.What are My Options? These days very few carriers offer...Read the rest of this article »Related Articles
Are Tax-Qualified LTCI Policies Consumer Friendly?
When the long-term care insurance (LTCI) industry was in its early stages, the policy features and design differed considerably from what we commonly see offered to consumers today.At the time, LTCI was a relatively new segment of the insurance industry, so there was little history that could be drawn from for reliable sources regarding pricing, underwriting procedures and policy design. As a result, it was kind of like the Wild West in that each carrier typically had their own...Read the rest of this article »Related Articles
Choosing the Long-term Care Insurance Company That’s Right for You
Becoming familiar with the foundational features and options of a good long-term care insurance (LTCI) policy requires taking the time to educate yourself before making your final decision. This will help ensure that you get the policy that will best fit your particular needs.The next step is to find the insurance provider that will suit you best. Since there are a number of LTCI carriers to choose from, here are a few suggestions for selecting a company that offers...Read the rest of this article »Related Articles
How Do You Select A Daily Benefit For Long-term Care Insurance?
The five foundational features of most LTCI policies are: the daily benefitthe benefit periodthe benefit settingthe elimination periodthe inflation protection benefitAll five of these features are very important and have a major impact on the care you will receive under the policy guidelines. But for today’s post we will focus on the daily benefit as this is one of the most flexible features of the policy. It’s very important to get it right the first time!The daily benefit simply...Read the rest of this article »Related Articles
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