If you’re getting older, you’ve probably thought about what kind of insurance you’ll need to cover health issues and medical expenses, from medications to specific procedures. But in some cases, for chronic conditions, disabilities or illnesses, long-term care will be necessary — whether this means staying in a nursing home, hiring a live-in caretaker or …
Category: Long Term Care
There are significant differences between joint and linked long term care insurance policies. One type allows for couples to share a policy while the other allows a husband or wife to tap into the benefits of their spouse’s policy. There are certain advantages to each type of LTC policy and through the help of an …
Category: Articles, Long Term Care, Retirement Planning
There are some common misconceptions concerning who is responsible for long term care expenses. Oftentimes consumers erroneously believe that government run Medicare and private supplemental insurance will pay the costs associated with extended care. Unfortunately, this is not the case. Medicare, when combined with some supplemental Medigap policies, will only cover a maximum of 100 days of …
Category: Articles, Long Term Care, Retirement Planning
Up until a few years ago, consumers had few choices when it came to long term care insurance (LTCi). Traditional policies that provided a certain amount monetary reimbursement were the norm. Policies could be designed to cover expenses for a few months or much longer period of time – even providing benefits for the insured’s …
Category: Articles, Long Term Care, Retirement Planning, Wealth Transfer