Here is an excerpt from an article that appeared in the Bradenton Herald in Florida regarding the seriousness of the challenges facing our society in the near future if we don’t start planning better for LTC needs. Hopefully the federal government will step up the response to this issue and help educate more of our […]
This can be one of the more useful ancillary options to choose and here is why:
The vast majority of long term care is performed at home, contrary to what many people think. Most policies allow you to save money by setting an elimination period that states how long you will personally fund your own care […]
For those folks who may live outside the US for a period of time each year, there are more and more policies that will allow you to receive care and benefits while outside the country with certain limitations.
Many will now allow you to receive benefits if you are in Canada, but some other policies broadly […]
Another ancillary option that is offered in most tax qualified LTCi policies is the “nonforfeiture benefit”, or “shortened benefit period”. It is not usually included in the policy, but is offered as an option.
Essentially, this option says that if you paid $15,000 in premiums over a few years of your policy’s existence and then decided […]
If you have read my consumer tutorial entitled “Bringing Simplicity To Long Term Care Insurance”, you probably know that I am a big believer in keeping things simple when it comes to designing a good LTCi policy. That’s because I have seen many people waste too much time on the secondary features of LTCi and […]
It’s always a good idea to keep an eye on the tax benefits that owning a LTCi policy provides, and the IRS has just released the 2007 deduction limits for Tax Qualified LTCi. Here it is:
Maximum Deduction for
Qualified Long Term Insurance Premiums Under Code § 213(d)(10)
[…]
According to the results of a study commissioned by the New York Life Long-Term Care Division, the average cost for nursing home care in the U.S. climbed significantly in 2006.
Costs for both private and semi-private care were 6% higher than in 2005. The average cost of a private room with a single occupant climbed […]
When I talk to people about long term care insurance, it is noteworthy how many often say that it is very important to them to avoid becoming a burden on family and friends should the need arise in the future for a prolonged period of care.
And yet, the irony is that so many of those […]
A subject that is often not given as much press as it should is the tax-saving opportunities involved with purchasing LTCi. While the tax advantages of having a LTCi policy is not all that spectacular for someone who works as an employee for someone else, business owners and self-employed individuals get a much better deal […]
As time goes on, innovative thinking in the field of LTC insurance is going to be needed, and those companies that continue to improve their product offerings and stay current with the marketplace will benefit the most.
So, it’s no surprise that one of the leading LTCi providers, John Hancock, has introduced a new policy design […]