Long-Term Care Insurance Policy

Long-term insurance policy best for everyone. "Never let the truth get in the way of a good story,". I am sure Mark Twain wasn't thinking about Long-Term Care or today's news media when he said this long ago. Today it is very easy to place a news story for people to consume. Between traditional TV and radio, an expanded 24/7 news cycle with cable news there is a lot of information available. The biggest difference today, like the old days when anyone with a printing press could print anything they like, now you just need a computer to create a news story. It seems almost everyone has a computer or smart phone and they are not afraid to use it.

The topic of Long-Term Care has become a big one with an aging America. By 2030, 1 in 4 Americans will be over the age of 50. By 2050, 1 of every 5 Americans will be 65+ according to data from data from the Centers for Disease Control and Prevention. It seems like once you get around the age of 50 the conversation about Long-Term Care starts coming up. In today's world that means you hit the Internet and see what information you can find. However, some articles are providing misleading or even completely erroneous information on Long-Term Care Insurance.

We have heard the term fake news, but perhaps the best way to define what is being written about Long-Term Care is just "lazy news" or "advocacy news". It seems like everyone with a computer, including myself, has an agenda. How much of this is "truth" is a matter to discuss.

Generally, there is more to a story... and the stuff left out is usually very important. The stories about Long-Term Care insurance premium rate increases are very misleading. They usually leave out many details. The reporters or "professionals" writing these articles often have an agenda to push the public in one direction or another.

The other thing to remember is the Internet is also "old news" as nothing on the Internet usually gets deleted. You may find and read something that is old but that story may have been updated numerous times since the first story was published making the information you are reading outdated. You must do more due diligence today to see if you are getting accurate information.

Since the issue of planning for the financial costs and burdens of aging is so important to American families you should know the facts. Often the reason the articles talk about premium increases is to scare the consumer. Maybe the writer wants the government to pay for all long-term care (not going to happen as too many people require care and budgets are tight as it is trying to take care of those with little or no savings). Perhaps the writer wants to have the consumer spend large sums of money of certain type of financial product they are selling. The consumer should understand the truth, so they can plan in advance with more peace-of-mind.

These increases that are being reported are primarily on "legacy products" These are older plans that were priced well before the interest rate crash and rate stabilization regulations.

Today, all plans are priced with the very low interest rate environment in mind (interest rates have been low in the United States over the last decade). These older plans which had increases were based on a few factors:

· Interest rates

· Lapse rates (meaning, how many people drop their policies. In practice, very few do, but this was not factored into premium pricing on many older plans)

· Claims and underwriting experience

These policies are paying huge benefits as well. In 2017 over $9.2 billion was paid in benefits to American families protecting assets and easing family burden.

The fact is these older policies were under priced to start with and even with increases they still have outstanding value and huge benefits. Nobody likes an increase, but you must put that increase in perspective. Many of these people I speak with have huge benefits which have been increasing 5% compounded every year since they had the policy. Many have unlimited lifetime benefits as well. Since they have these huge benefits many can reduce the benefit or inflation factor to keep the premium the same. As their benefits increase far greater compared to the cost of long-term care they remain in an outstanding position.

Today's Long-Term Care insurance policies remain very affordable as people start purchasing plans prior to retirement. Underwriting is more conservative but since consumers are younger most people can still find an appropriate plan.

Experts say that the risks of increases are small but like anything there is always a chance of an approved increase. However, if you read some of the articles being published you would think the industry is dead and consumers no longer have any interest in the product.

The fact is there are still numerous insurance companies marketing Long-Term Care insurance. Consumer interest has never been greater. As I speak to other Long-Term Care Insurance specialists, like myself, we have all noticed a big increase in both consumer awareness and interest. Consumers are younger, more knowledgeable with the risks (often with first-hand experience with an elder parent or other family member) and we are bombarded with requests for information and quotes.

Consumers are seeking help from Long-Term Care specialists as most financial adviser and general insurance agents have limited knowledge and experience with the products, underwriting, policy design, benefit options and the federal/state partnership program which is available in most states. Therefore, some of these professionals push consumers into options they are more comfortable with despite the fact they might not be the best and most affordable way to address the costs and burdens of aging.

Long-Term Care Insurance, despite what you read, is very affordable for most people. With regulation and better pricing consumers enjoy additional peace-of-mind knowing they have a plan they can count on in the decades to come that will remain affordable once they retire and get older.

Many people can obtain outstanding coverage for under $150 a month, some even under $100. Premiums are based on your age at the time to get a plan, your health and the amount of benefits who wish to have. Most of the people I speak with nationwide are from ages 45 to 60.

A true Long-Term Care specialist will ask you numerous questions about your health, family history and retirement plans in order to make the proper recommendation. Anyone willing to give you "quotes" without asking very many questions should be avoided.

Long-Term Care insurance is custom designed. Plus, every insurance company has its own underwriting criteria. A true Long-Term Care specialist will represent most or all the major companies. They will have a keen understanding of underwriting and policy design. They should have processed many claims, so they have the first-hand knowledge of how these policies get used at the time of claim.

Finally, a real Long-Term Care specialist will not steer you to certain type of policy without spending time speaking with you to determine which type of plan fits your specific situation. Working with a Long-Term Care specialist will allow you to get the accurate information you seek. There are several reference websites for research:

LTC News offers articles and resources: http://www.ltcnews.com

US Department of Health and Human Services: https://longtermcare.acl.gov/

The main concern for most people is they understand care giving is hard. An older spouse can't be expected to be a caregiver without impact their own health. Adult children and their own families, careers and responsibilities. Paid care is expensive and drains savings and impacts lifestyle.

For many, Long-Term Care Insurance is easy, affordable, rate stable income and asset protection. It reduces the burdens which your aging will have on your family. However, speak with a true specialist. There are not many Long-Term Care specialists with extensive experience, but I help people nationwide and a number of others like myself do as well. Peoples protection.

Choosing Right Coverage Health Care Plan

The policyholder coverage for medical expenses occurred during the treatment of a health ailment. Everyone should get health plan as per his or her health care requirements. These days, insurance firms are offering coverage options for serious diseases such as heart attack, kidney failure, surgical treatment or any other critical health problems. To avail these solutions, the individual needs to buy an appropriate health plan at the right time.

When do you need to opt for health insurance?

To ensure that you are protected against unexpected health issues, it is mandatory to have a mediclaim policy or health plan in hand. Without health cover, the expenses of modern age medical facilities are too tough to handle. You need to buy a health plan:

To protect your health against serious ailments

To protect your pocket against heavy expenses of advanced medical treatments

Enhance confidence to handle the uncertainties of life

Buying health insurance policy? Don't forget to consider following points. Deciding to buy health insurance can be challenging once you enter to the maze of insurance market. Below are the pointers you need to keep in mind when making a purchase:

Understand your requirement first.

Research existing policies.

Select the best suitable one as per your precise requirements.

Discuss with experts to get information about suitable health policy for you.

Read the policy document carefully before accepting the terms & conditions. Understand the terms and conditions well. This is the most significant point to be taken into account when purchasing health insurance.

Opting for the right health cover plan:

Comparing amongst the existing and reliable options available can be a right thing to deal with. Internet is the best resource for insurance comparison. The web platform is credible and offers free insurance quote facility for potential buyers. You just need to compare online and get one that best suits your requirements; budget and health cover related expectations. The premium prices of a policy will go higher if the plan is bought for acute ailments. 

On the other hand, the prices for general health cover are feasible. To save more money on the insurance plan for each member of your family, you can consider purchasing comprehensive health insurance i.e. family floater plan covering each member of your family with cover benefits. Apart from this, amount of sum assured should be planned according to the healthcare need of the family and affordability of the policyholder. This further depends on various factors such as age, profile of the insurance seeker, level of income and count of dependents.

Retirement Health Care Coverage Insurance

Mostly and many people think that insurance is waste of money but it is an essential part of your life. Taking care of your family during your presence can be achieved easily but after one's death it's very difficult. This difficulty can be waved off by insurance. LIC Insurance Services offers Insurances in all criteria's like Children Plans, Education Plans, Retirement Plans, Money Back Policies, Life Insurance, Health Insurance and it is been awarded as Top Player of the Country by LIC.

We are known for offering customized plans depending on the age and income of the individual. We take care of all your insurance needs starting from choosing of your plan to maturity of your plans; we are ready to answer your query in any prospectus.

There are many range of policies, where in choosing is greater head ache, LIC Insurance Services helps in selecting right plan with the right investment to the right person. During Insurance process there are few important steps to be taken care:

Firstly one should decide what type of insurance you are looking for either Life insurance, Health Insurance, Vehicle Insurance, Pension Plans, Business Insurance, etc..

Secondly your budget: How much one can invest on premiums of monthly, yearly, quarterly after all the expenditures.

Thirdly how long you need to be covered either Short term cover, Long term cover?

Lastly it depends on the benefits of insurance like do you want to cover against illness or death or an investment element as well.

By taking these measures one can explore their knowledge and many more:

Firstly you can save Money: Saving money in the sense once you shop around you will find the better options.

Secondly you can save time by listening to unwanted discussions which could create a negative impact.

Thirdly you can save confusion which is very essential for all the investors. As we all know marketing people will either convince or confuse.

At LIC Life insurance services we are dedicated in client servicing wherein we give many options and plans which suits your investment and returns. Insure yourself for better tomorrow. Kindly visit our website for any of your insurance needs.

LIC Insurance plans:

LIC has many colorful plans to protect you and your family, also needs financial coverage's for your desired goal. Each individual needs will be different so LIC has many plans to cover all kinds of needs like health insurances, child care plans, endowment plans, and plans for handicapped dependents,  pay back plans for women etc. LIC covers all categories of people and provide best insurance services through their agents all over India. In India categories wise is importance of insurance.

Baby Boomers Long Term Care

To be frank, it is 7 years past the seniority age and 3 years shy from being a "septuagenarian" or a person in their 70's. The youngest would be in their 49's. Why bring up these groups of people and their ages? To ask the question "why should we get long term care for baby boomers?"

Basically, these groups of people have around 20 year range and can be classified under different categories. Those below 50 can still be considered "within their prime" whilst the ones hitting 60 and over are going to become "senior citizens". So, again, going back to the point, why are we bringing up these numbers for? So we can ask another question. "Who is taking care of these people?"

These ages, in all honesty, are considered old. Even those who are just entering their 50's, they are also considered old and with being old is the idea of being frail and helpless which is not always true. Some of these individuals can take care of themselves and continue with activities of daily living (ADLs) and sometimes, even take care of others, younger or of same age.

So there seems to be no issue here, right? Unfortunately, there still is. Surveys show that 3 or 4 out of 10 elder adults are incapable of performing ADLs due to physical immobility issues caused by physiological traumas like slip discs, osteoporosis and other medical conditions. 2 out of 10 suffer cognitive impairment and could not even tie their own shoelaces or put on their shirts.

Here is where long term care for baby boomers comes invaluable. It becomes a form of continuity of life. These baby boomers are entering a stage of their life where retirement is giving them a fear of being useless and seeing themselves as nothing but a burden to themselves and to their loved ones. Along with these physical incapacity's comes the unfortunate and dreaded depression.

To help them anticipate and fight against these fears, finding and signing up the ideal long term care (LTC) will help them prepare the future of their health plan and prevent these unfortunate conditions. Signing up is easy and all you need to do is locate a convenient LTC vendor near you. For any inquiries, LTC agents can help you clarify any questions regarding about the premiums, policies, rates and coverage.

Getting LTC for baby boomers is not only ideal but also practical. Who can say, maybe it is not you who is the baby boomer. It could be your mother or father, even your grandparents or anybody close to you and you want to give them another chance at life. Hitting the later years does not have to be the end of their existence.

Baby boomers have as much right to continue living and moving on despite older age.