Headline: IBM stops selling computers–future of computer industry in doubt!
In December of 2004, the company that set the standard for personal computers (remember “IBM-compatible”), stopped selling personal computers. After dominating the PC market for most of two decades, IBM abruptly left. No newspaper editor was silly enough to write the headline: IBM stops selling personal computers– future of PC industry in doubt! Yet, earlier [...]
4 Reasons why a 90-day Elimination Period usually makes the most sense
4 Reasons why a 90-day Elimination Period usually makes the most sense: A 30-day Elimination Period usually costs about 20% more than a 90-day Elimination Period. If you’re going to spend 20% more premium, you would be better off buying 20% more Daily Benefit. Would you rather have a policy that pays $200 per day [...]
How much does long-term care insurance cost?
Here are a few facts which may surprise you: Long-term care insurance is very flexible. Every long-term care policy gives you many choices for your benefits. You choose your: Daily Benefit, Inflation Benefit, Policy Limit, and Elimination Period. The richer the benefits you choose, the higher your premium. The more modest the benefits you choose, the [...]
What is the “Daily Benefit” (a.k.a. “Monthly Benefit”) in a long-term care policy?
Daily Benefit = the amount of money your long-term care insurance policy can pay for each day that you receive qualified care. The Daily Benefit is the single-most important feature in your long-term care policy. Choose it wisely! The Daily Benefit is sometimes referred to as the “Starting Daily Benefit” or the “Original Daily [...]
Assessing Long-Term Care Insurance Companies
The president of Homewatch Caregivers recently interviewed Jesse Slome and me about “Ways to Assess Long-Term Care Insurance Companies”. The article has some great tips. One of the most important things to consider when choosing a long-term care insurance company is the financial ratings. Secondly, you don’t want to overpay for LTC insurance. There are [...]
Caregiving’s effect on our children
When I was a caregiver my son was 9 years old at the time. Between my work responsibilities and my caregiving responsibilities, I was being pulled in many different directions. I had less time to focus on him. It was easy for me to think that the stress of caregiving and its impact on our [...]
Another elder law attorney weighs in on long-term care insurance
Mark Clements, an elder law attorney in Lakeland, Florida, has been practicing elder law for over 30 years. Here are his thoughts on long-term care insurance: “Having practiced Elder Law for more than thirty years, it becomes more and more apparent to me that our current “needs based” system that provides government benefits to pay [...]
Adult Children Losing $3 Trillion in Caring for Aging Parents – ElderLawAnswers Articles
I’ve been a caregiver. Caregiving is one of the most rewarding experiences in life. It is also one of the toughest (both emotionally and financially.) I don’t regret the time I spent as a caregiver. But, if I had to do it all over again, I’d do it differently. We need to consider [...]
An elder law attorney’s advice about long-term care insurance
Since the passage of the Deficit Reduction Act of 2005 and the creation of LTC Partnership programs in over 40 states, many elder law attorneys now recommend protecting your assets with a long-term care partnership policy. Here’s a link to brief article where he a North Carolina elder law attorney lists 3 reasons why it makes [...]
Federal audit reveals LTC insurance claims practices
When someone contacts me to inquire about purchasing long-term care insurance, one of the questions I’ll ask is: ”What prompted you to look into long-term care insurance?” Over the past few years many of my clients have been answering that question like this: “Well, my dad has a long-term care policy and it’s paying for [...]
