|
|
Should You Consider Buying a Long-Term Care Policy?
|
|
Written by Glenda Summers
|
|
Thursday, 08 November 2007
|
|
Page 2 of 2
How are these policies purchased?
You choose the amount of coverage you want per day and the length of time you want to cover. The choices are often 3 to 5 years of coverage or unlimited coverage. With unlimited coverage, you would not run the risk of outliving your policy.The benefits begin after you file for a claim. You can also choose a plan that provides for inflation protection. This is a very important option to consider. For example, if you have chosen a $150.00 a day benefit and if the cost of care compounds at 5%, you would need more than double that amount or $311.84 a day in 15 years. Of course, the longer time and more coverage you choose, the higher your premiums. What you are doing is deciding how much risk you want to retain and how much risk you want to transfer to the insurance company. In other words, how much could you pay “out of pocket” and how much do you want the insurance company to pay.
Should you investigate Long-Term Care insurance? The answer is, yes. Should you purchase LTC insurance? The answer to this question is the same as many questions in life: It depends! It depends on your financial situation, your expected longevity, the current status of your health, how much money you want to leave your heirs, etc. These are questions that you should discuss with your financial advisor to determine if long-term care insurance has a place in your financial plan.
Glenda Summers is a Certified Financial Planner with Lucien, Stirling, and Gray, an Austin-based Registered Investment Advisory firm (www.lsggroup.com) . Ms. Summers may be reached at
This e-mail address is being protected from spam bots, you need JavaScript enabled to view it
or 512-458-2517.
 | LIST OF COMMENTS |
4/5.
Written by vettpoo - Tuesday, May 08 2012 |
NBA Shop The SAN Antonio spurs coach gregg popovich won NBA2011-12 season of "the best coach". Tracy Mcgrady Shoes Gregg popovich led the spurs veterans staged the lockout-shortened season "miracles", |
 Add Comments
<< Start < Prev 1 2 Next > End >>
|
|
Last Updated ( Friday, 30 May 2008 )
|
Print
|
Email
|
.jpg)
