We hear it all the time; people are living longer, the system is not equipped to handle the increasing number of older Americans, and health care costs so much. One thing that can be done to safeguard your future and your finances is to take out a long term care insurance policy. LTC provides coverage for health care issues that go beyond hospital care.
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Archive for the 'Long Term Care' Category
Do you need car insurance? Only one in 24 cars is ever in an accident, so why do you carry car insurance?
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If you plan to live and grow old, then the answer is Yes, you should buy long term care insurance. If you plan to drop dead without notice, then you might want to hold off and see if that really happens because the high cost of receiving Long Term Care might erode your life savings. Which group are you in?
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Should you buy long term care insurance? Many people want to protect their financial assets in case they need nursing care, and LTCI is one way to do this. But there may be some alternatives that will make more sense for you, and for your family.
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According to the National Center for Health Statistics, some 1.6 million people currently reside in nursing homes. That number is likely to increase significantly as baby boomers become seniors.
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A long-term care specialist has his clients’ interest at heart. He/she is an independent agent with no ties to one particular carrier or another.
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Long term care insurance, as the name denotes, looks at your requirements over a long period of time. This long term insurance provides you with medical facilities in your house and pays for post hospital care benefits as well. Long term care insurance is different from health insurance insofar as it takes care of those diseases which may not be fatal but which requires continuous attention stretching into even decades.
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As a result of the Pension Protection Act of 2006 that went into effect on Jan. 1, 2010, policyholders with specially designed annuities have the ability to take cash value withdrawals for qualifying long-term care expenses, free of income taxes, regardless of the cost basis. Benefit payments from long-term care insurance riders and cash value withdrawals to pay for long-term care insurance premiums also are not taxable.
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Confused about what long term insurance can do for you? Read on to know more.
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You have probably heard about health insurance and even accident insurance. What on earth is long term care insurance? Let us imagine you have just undergone a heart surgery. A few blockages were found in your heart and doctors were forced to do a bypass to ensure that the problem is solved forever.
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