The takeaway. In the wild, you may encounter a band of rogue long-term care sales agents who are more interested in getting the sale than in getting your needs met. They’re in the minority, of course, but they’re out there. Their sales tactics center around three themes that are insulting at best and untrue at … [Read more…]
The takeaway: The three factors affecting your long-term care insurance costs are 1) your life-long premiums, 2) premium rate hikes, and 3) the policy’s elimination period–which even though you’re insured, requires you to pay your own long-term care costs for a certain period of time. How well you prepare, plan, and protect for these factors … [Read more…]
The takeaway: To evaluate a long-term care policy, know the market price for care, know how to tell if the policy will be reimburse your current and future expenses, and know how well it will keep up with inflation. Here’s how you tell. $$$ Whatever you do, don’t be the younger me. A while back, … [Read more…]
The takeaway: Would you buy a product without knowing your odds of needing it? Your odds of needing long-term care are based on specific factors, all of which are outlined in this post. And the news is better than you might expect. So when that sales agent calls, don’t be too quick to whip out your … [Read more…]
The takeaway: Medicaid foots the bill for 62% of all nursing home residents. Everybody else is paying over $100,000 a year. To be one of the 62%, you need to know the following four things: 1) Medicaid’s financial requirements, 2) how to find legal help so you can potentially meet those requirements regardless of your … [Read more…]