Long Term Care Insurance Archives

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Exactly what IS Long Term Care insurance and why should I care about it?

Like life insurance, LTC insurance gives you and your family choices (not expenses) when you need them the most. And here’s a super-simple cartoon shared by our LTC colleague Steve Cain of LTCI Partners. Easy to read, and a little entertaining too! It doesn’t even matter how old you are, at some point you’re probably… Continue reading Exactly what IS Long Term Care insurance and why should I care about it?

Can you measure the value of time?

Tim Wiholt, an insurance broker from Nashville, wrote this lovely LinkedIn post. I adored it! I just had to share his sentiments. Life by the numbers . . . the average person lives to be about 80. We spend roughly the first 20 years learning, the last 20 retiring, and the 40 in the middle… Continue reading Can you measure the value of time?

Pop Quiz! Did you study LTC?

Whether or not you’ve studied the articles in the last week on Long Term Care Insurance, The Insurance Mom has a pop quiz to see if you’re ready for Long Term Care Insurance! Answer the following for yourself and your family, True or False: I’m between the ages of 40-65 or I have parents… Continue reading Pop Quiz! Did you study LTC?

What’s the cost of getting older? $90,000 a year!

$90,000. That’s a lot of money! On a national average, it’s what you’ll pay if your Mom or Dad lands in a nursing home for a year (and the average stay is 2.5 years). That’s really a ton o’money!! If your Mom or Dad would prefer to get better at home (and who wouldn’t?), today the cost of home… Continue reading What’s the cost of getting older? $90,000 a year!

Repost! 4 Simple Rules About Long Term Care Insurance

Another oldie but a goodie (with some updates) about Long Term Care Insurance. Is it time for you or your parents to think about Long Term Care Insurance? Here’s 4 quick rules about LTC . . . — First, always consult with a qualified broker, like The Insurance Mom! Second, buy a plan that’s affordable. Don’t go… Continue reading Repost! 4 Simple Rules About Long Term Care Insurance

Revisiting A Short Course on LTC

Now that we have a bit of a handle on Open Enrollment for health insurance, I am getting nostalgic on my old blog posts and found this goodie on LTC: Did you know that at least 60% to 70% of people over 65 will eventually need long term care, either at home or in a… Continue reading Revisiting A Short Course on LTC

Long-Term Care Clarity!

Does Medicare cover long-term care expenses? The answer may surprise you! There was a neat article this week in the LA Times about Long-Term Care Insurance which spelled it out very nicely. If you haven’t given much thought to how you’d pay for long term care expenses, you’re not alone. Most of us haven’t.… Continue reading Long-Term Care Clarity!

$183,998

$183,998. That’s a lot of money! On a national average, it’s what you’ll pay if your Mom or Dad lands in a nursing home for the average stay of 2.4 years. That’s really a ton o’money!! If your Mom or Dad would prefer to get better at home (and who wouldn’t?), the cost of… Continue reading $183,998

Four Simple Rules for Buying Long-Term Care Insurance

First, always consult with a qualified broker, such as The Insurance Mom! Second, buy only what is affordable. Do not stretch to buy a policy that covers 100% of anticipated future costs. It is much smarter to buy the amount of coverage for which you are sure you can keep making the premium payments. It… Continue reading Four Simple Rules for Buying Long-Term Care Insurance

A Short Course on Long-Term-Care Insurance

According to the Department of HHS, at least 60% to 70% of people over 65 will eventually need long term care, either at home or in a nursing home, and that can be very expensive. The average stay in a nursing home is almost 4 years, at a cost of about $270,000. Your health insurance… Continue reading A Short Course on Long-Term-Care Insurance