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Thread: Avoid the Hassle: Buy Long Term Care Insurance Now

  1. #1

    Smile Avoid the Hassle: Buy Long Term Care Insurance Now

    There is still a large gap between the number of insured individuals as opposed to those who are yet to avail their insurance plans, and this fact alerts and worries the government. They are bothered not only because of the fact that fewer individuals can enjoy the benefits of LTC insurance plans, but also because they are concerned that the Medicaid might not be able to cover other needs that their beneficiaries might need.



  2. #2
    Member Level 0 sherylgray's Avatar
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    Today you will many people are not insured due to ignorance and lack of proper knowledge. Long term care insurance is not just for older people. Accident or major illness can also require long term care and financial resources. Better you should go for it while you are young with less physical problems.

  3. #3

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    I do agree with Enrick that there is still a huge gap between the number of people who have long-term care insurance and those who don't have coverage. Statistics would show that only 3% of Americans have purchased this insurance product. There are variety of reason why people chose not to buy insurance and one is its high cost. Long term care insurance costs are anywhere around $1,000 $7,000 annually based on http://www.ltcoptions.com/long-term-...surance-costs/. But it doesn't have to be that expensive if they'll explore their options first like by purchasing early, creating a smaller policy and availing of couple or group discounts.

    As a matter of fact, this is more affordable compared to self-insuring and more reliable than Medicaid. Consider this as early as possible if you want to protect your assets while receving long-term care and avoid becoming a burden to your loved ones.

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    Senior Member Level 1 marindependent's Avatar
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    I think that the market for Long Term Care insurance is huge however I see a major issue in that many of these insurers are continually just raising their prices.
    Scott W Johnson
    Whole Vs Term Life Insurance
    415-294-5454 CA LIC 0K10734

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    Quote Originally Posted by marindependent View Post
    I think that the market for Long Term Care insurance is huge however I see a major issue in that many of these insurers are continually just raising their prices.
    I agree. With insurers exiting the market and the rising price for LTC this has made this a difficult market to navigate.
    X

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    Senior Member Level 1 DavidBlock's Avatar
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    So ... along came life insurance with a long-term care rider. This reduces the cost and guarantees the client the return of their money in one form or another. There are single premium plans, guaranteed pay plans, etc. all available now. They do have drawbacks (many do not offer inflation protection) but need to be considered under the circumstances. If you want to provide a client with the maximum protection, why not consider a combination of traditional LTCi and the hybrid life plans?
    David M. Block, CLTC
    President
    Insurance Specialties, Inc.
    PO Box 1809
    Candler, NC 28715-1809
    800.358.8844 toll free
    828-667-1119 local
    828-667-2229 local fax
    www.insurance-specialties.com

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