Long Term Care Insurance

72% of Women Will Need Long Term Care After Age 65

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December 9th, 2012

For millions of Americans, celebrating an 80th, 90th and even a 100th birthday is increasingly likely. When you live a long life, there is a very high probability that you will need the type of care that’s referred to as long term care. 72% of women and 44% of men will need some form of» Read Full Article

Long Term Care Insurance: The Earlier, The Better

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October 2nd, 2012

People find it hard to envision themselves needing hands-on assistance with basic living activities like bathing, getting dressed, and eating so they avoid thinking about it altogether.  Statistics show that over 70% of people who reach age 65 will require long term care services at some point. The unknown factor is how long you will» Read Full Article

Long Term Care Insurance Premiums are Eligible for Tax Deductions

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August 2nd, 2012

Tax-qualified long term care insurance (LTCI) premiums are considered medical expenses. For an individual who itemizes income tax deductions, medical expenses are deductible to the extent that they exceed 7.5% of the individuals’ Adjusted Gross Income. The amount of the LTCI premium treated as a medical expense is limited to the eligible long term care» Read Full Article

LTC: Take Advantage of Your Youth

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February 27th, 2012

When is the right time to start investing in your long term care insurance?  Time is money when it comes to long term care insurance premiums.  The younger you are when you purchase your policy, the less you will pay in premiums over the course of a lifetime, because of the yearly premium being much» Read Full Article

Boomers in the Middle

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August 26th, 2010

In my constant effort to keep on top of all the current statistics regarding our aging population and how long term care insurance can benefit them, I came across this interesting study done by MetLife. Here is the synopsis, again all credit for information goes to MetLife: Since 2007, the MetLife Mature Market Institute (MMI)» Read Full Article

Three Tips For Saving Money When Buying Long Term Care Insurance

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August 25th, 2010

The American Association for Long Term Care Insurance suggests the following tips that can help you significantly reduce the cost of insurance coverage. Leverage Your Good Health:Insurers will require you meet certain health qualifications to obtain coverage. Discounts are provided to those in good health and 62% of applicants between ages 40-49 qualified in 2009.» Read Full Article

Uber-Wealthy use Long-Term Care Insurance to Preserve Wealth

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July 7th, 2010

Question: What do Suze Orman, Oprah Winfrey and Terry Savage have in common (besides being bazillionaires)? Answer: They each own Long-Term Care insurance. WOW! Why would someone so wealthy own long-term care insurance? They surely could afford to self insure their care for years to come couldn’t they? Interestingly though, the nationally recognized and widely» Read Full Article

Look-Back Period Dilutes Chances for "Free" Long-Term Care

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July 2nd, 2010

Many people still believe they will be successful at divesting their estates to their heirs so they can receive “free” skilled care. It’s still possible, with a few tricky maneuvers. Advance planning can be key if it is expected that a person might need Medicaid assistance to pay for long-term care. If you divested any» Read Full Article