Do You Need Long-Term Care Insurance?
Motley Fool, I love you! In this recent article, Motley Fool continues to offer consistent, straightforward, understandable information about long-term care insurance(LTCi), framed accessibly for readers.
The article says LTCi premiums are notoriously high. I disagree and have two comments about this. What can be much more expensive is needing LTC for anything but a short period of time and not owning LTCi! When LTCi policies pay out, they pay thousands of dollars a month, often for years. Secondly, if you are shown the right coverage, I can pretty much guarantee you'll find the premiums reasonable.
2017 Alzheimer's Facts Are Here!
The Alzheimer's Association does a great job of compiling facts, appealingly and succinctly. In 2016, 15 million Americans cared for loved ones with Alzheimer's Disease (AD) and other dementias. They provided 18.2 billion hours of care, valued at $230 billion! I'll bet many of these caregivers wish their loved one had paid more attention to planning ahead for their LTC!
Have You Had a Rate Hike?
Since I do not get copies of all rate hike correspondence, I often do not know if you've had an LTCi rate hike.
Usually, even with the rate hike, your policy is below current market price. Clients find it highly useful to discuss what causes rate hikes, how they occur, and how likely there'll be more in the future.
If you cannot tolerate your new rates, there are optimal ways to downgrade your coverage while keeping it highly effective.
Do not tamper with your policy until we've spoken! If you need to discuss your LTCi rate hike, please email or call me.