Over 99% of long-term care insurance policies sold today are tax-qualified,* which means the way to get a claim paid is the same as it is Federally controlled in order for the premiums to be tax-free according to IRS guidelines and enjoy other tax incentives. Just like you can need care physically or mentally, you can trigger the benefits in one of those two ways.
Dec 17
The Employee Education Presentation
I will do a series of posts on how to conduct the essential long-term care insurance employee education so that employees of all ages apply along with their spouse and eligible family members. If you can’t wait for all of the posts, you can always grab a copy of my book, Phyllis Shelton’s Worksite Long-Term …
Dec 16
Free brochure to share with all you know to save state budget dollars for education and public safety
I’ve been trying since July 2010 to bring attention to the fact Americans think deciding to insure for long-term care is a personal choice, affecting only them. Americans are really choosing between paying long-term care insurance premium which leaves dollars in the state budget for education or not buying LTC insurance, which diverts state budget …
Sep 07
Tribute to Ann Orman
Suze Orman’s “Southside Girl” passed away this week and when I sent my condolences, Suze immediately sent the obituary she wrote for the Chicago Sun Times right back to me. This is the mom that she was spending $25,000 a month on because her mother would never sign the application to allow Suze to buy …
Aug 21
Planning for Long-Term Care Inflation Isn’t Rocket Science, Folks
The new John Hancock Benefit Builder product has turned long-term care insurance into an investment instead of an insurance product.
Jul 22
Long-Term Care Insurance: A Priceless Equation
CNBC allows you to vote on “Would You Buy Long-Term Care Insurance” at this story: http://www.cnbc.com/id/47703131 This article says the premiums are expensive. I hear that all the time. Are they expensive? I have to expand the question to those who make that statement. Long-term care insurance premiums are expensive compared to what? Compared to …
Jul 15
True Group vs. Multi-Life
Size matters. When we say that about half of the long-term care insurance policies were bought at work, we are talking about a combination of true group and multi-life. Multi-life generally applies to companies with less than 100 employees but can extend several hundred What is the difference? Multi-life LTCI is simply an individual long-term …
Jul 14
How the Supreme Court Decision Affects Long-Term Care Insurance
The Supreme Court decision on June 28, 2012 makes it even more critical for people to own long-term care insurance as it is highly questionable as to how many Medicaid dollars will be there for LTC in the future. In 20-30 years, people who need long-term care will be sharply divided between haves and have-nots. Many people who elected to self-insure will be squarely in the middle of the have-not bucket as the cost of care soars to $1000 a day in 30 years. Money buys choices. Without long-term care insurance, most families simply won’t have the money to buy care and their worst nightmare will happen as the burden for their care falls on their children and grandchildren.
Mar 22
Bad Advice to Lower Daily Benefit to Lower LTC Insurance Premium
Response to Terry Savage article “Long-Term Care-LESS”, MoneyShow.com, March 19, 2012 http://www.moneyshow.com/investing/article/11/Blog-27057/Long-Term-Care-LESS/ The 90% rate increase by John Hancock is not a responsible rate increase in my opinion. They were asleep at the wheel, not realizing that was coming. But in all fairness – this article makes it sound like long-term care insurance rate increases …
Jan 07
What Happened to the New Government Program That Was Supposed to Pay for Long-Term Care?
The Community Living Assistance Services and Supports (CLASS) Act was a provision in the 2010 health care reform act (Public Law 111-148) that was supposed to provide an average benefit of $50 a day depending on the level of impairment with a lifetime (unlimited) benefit period. This benefit would grow each year based on Urban …
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