(Add to Favorites | View All Articles | Resource Directory)
|
|
|
Long term Care Insurance - Probably the most important asset you could ever ownIntroducing the Best Available Long Term Care Policy GuaranteeIf you're 60 to 70 years old ... or have a family member who is ... then what you are about to discover could help prevent the complete erosion of your estate. In fact, it's probably the most important asset you could ever own. Let me explain why. For over 24 years, I have helped hundreds of individuals understand and implement money saving ideas. From the birth of an innocent newborn to the demise of a crafty senior I've witnessed families in every financial situation imaginable. As my clients age (and me along with them), I can tell you without hesitation the biggest fear of growing old is losing your ability to remain independent. Although we are living longer, we are not necessarily living better. Chronic disease is rampant ... and it strikes with a vengeance when you least expect it. How many people who have experienced a stroke knew it was going to happen to them? How many anticipated that particular moment when they began to forget things? The facts speak for themselves. Literally millions of Americans require long term care ... either in nursing homes, day care centers, assisted living facilities or in their own homes. And the cost of providing this care is outrageous with no end in sight. Now, if you think it will never happen to you ... I'm sorry. This article doesn't try to convince anyone about the likelihood of their needing care before they die. It's meant for those who understand and appreciate the need to arm themselves with protection against the horrific expense of long term care. In fact, this article is ideal for those who have already looked at traditional types of long term care policies and are trying to determine which type is best for them. One of the biggest objections to buying a long term care policy is that if the benefit is never needed the premiums paid for the policy will be wasted. This is somewhat like buying automobile insurance. You have to pay the premium in order to get your car repaired. But what if you never have an accident. Is that considered losing your premium? Funny isn't it? People hardly question paying for car insurance, but they frequently resist doing so for a long term care policy. So... what if you could always get your premium back - guaranteed - if you never require any long term care? And, what if you die before receiving long term care? Wouldn't it be great if your loved ones could recover 100% of your premium expense? How about this? You actually use up all of your long term care benefit. And then you die. What if your family could still get back 10 percent of your premium. Now if you know anything about long term care policies you're probably wondering why you haven't heard of this type before. One reason is because it is non-traditional and not included in the mainstream marketing of long term care policies. Another is because it takes a large sum of money to buy the policy. $50,000 is typical and it's a one-time single premium, which means you will never get stuck with a premium increase. It is not uncommon for people between 60 and 70 to have large sums of money stashed away in bank CDs earning low interest. Kind of an emergency fund. Transferring a portion of this fund into the policy makes sense because the money continues to earn interest. Besides, it usually pays more than the bank ... plus, the policy interest is tax deferred. It's also common for people this age to have old life insurance policies with significant cash value. Many times it's possible to transfer the cash into the long term care policy and still retain a meaningful death benefit. And the future long term care benefit could easily be worth over one million dollars. This policy has a 90 day waiting period before benefits are paid. The length of the benefit can be as short as 4 years or as long as your lifetime. You can also get a 5% compound interest inflation protection rider to help keep up with the rising cost of care. The name of this policy is MoneyGuard. It is a universal life insurance policy with a long term care rider. The issuing life insurance company is Lincoln Life, a subsidiary of Lincoln Financial Group. By the way, this policy was initially developed by Penn-Pacific Life many years ago. They have years of experience and an excellent reputation. Lincoln recently bought Penn-Pacific. Ask your life insurance agent to get you more information about this single premium policy. For the right situation it is absolutely the best guarantee in a long term care policy. Don Adams is a 24 year veteran financial consultant who has helped hundreds of individuals solve a variety of problems related to money matters. More information is available at http://personal-finance-on-the-net.com
MORE RESOURCES: News provided by Yahoo! News and Google News Love on overload - Melbourne Herald Sun New Film Exposes Bruce Wasserstein and Lazard-linked Elderly Care ... - eMediaWorld.com Newswire Press Release Distribution Service (Press Release) Dignity charter bid for Chorley elderly care home providers - Chorley Citizen Emotion Runs High as Board Votes to Close Elderly Care Unit - KFVS RNC Strategy: Swarm, Seize, Stay / Sectors / Three Tiers / St ... - Bay Area Indymedia Call for regulation of elderly care workers after gagging - Wairarapa Times Age |
|
|
|
RELATED ARTICLES
Adult Family Homes - a great alternative to Nursing Homes As a long-term care consultant for seniors and their families I have visited many different types of facilities. But my favorite type of facility to visit is adult family homes. Prevent many chronic age-related illnesses by adding Protein Youth, it is said, is wasted on the young. Too busy figuring life they hardly take the time to enjoy it. Be prepared for the unexpected Several months ago, I was coming out of a gas station when a woman stopped me and asked me what I did for a living. On the back of our van is our web address. Prevent potentially serious injury Every year we hear stories of seniors falling, ending up in hospitals and never fully recovering. Unfortunately, these falls often result in death. Why you should become Certified as a Senior Approved Service Are your clients pleased by the fine quality service that you provide? Validating your clients' endorsement of you through Certification as a Senior Approved Service will increase your client base. Senior Approved Certification leads a family towards a service like yours side stepping the possibility of connecting with a less than desirable service. Skilled Nursing Homes and other Assisted Living Arrangements compared A skilled nursing home is a medical facility providing services similar to a hospital. The homes are staffed with licensed nurses, shared rooms, hospital beds, regular scheduled doctor rounds, meals and housekeeping. The Golden Years 1) What does Adrian Mitchell say we do to people when their working lives are over?Adrian says that "when a man's too ill to work we punish him", rob him of half his income or replace it with "pocket money" and or place him in a retirement home to sit out the remainder of his live in isolation.2) What does he think about this?Adrian thinks that "the old people are being robbed" and says "to hell with retiring" he believes that the way that deal with old people (to have your ability to sport yourself removed and then being given "pocket money"). Adding sparkle to an Alzheimers patient's life Severe degradation of short-term memory means that my father, an Alzheimer's elder, is seldom interested in movies or books. And, although music used to be a source of enjoyment, he no longer listens with pleasure. Diet may diminish the influence of Alzheimers Argh! Where are my glasses? I put them down . . Help combat depression for your senior freinds and family Sixty-five year old Arthur Jones served a self-imposed life sentence - in his own home.Arthur lived in a high crime neighborhood, so he built iron cages around his outside doors and installed bars on all the windows. Breakthrough in Alzheimers Research There is now widespread agreement among research scientists and medical professionals that Alzheimer's Disease (AD) is a problem quickly growing to vast proportions. As the life expectancy of Americans continues to rise, increasing the percentage of the population over 65 years of age, so does the number of Alzheimer's cases. Selecting the right Wheelchair If you have an injury or a health problem that restricts your mobility, you can achieve the independence you desire with a wheelchair that's just right for you. Wheelchairs are constructed for people of every size, shape, and age, and have features designed to meet the many diverse interests of users and appropriate for the various levels of assistance required. 5 Myths You Should Know Before Choosing Elder Care Myths associated with selecting quality nursing home care suggest quick and easy ways to identify quality care. In fact, relying on these myths can lead to disastrous results. Staying sane when caring for the disabled Caring full time for a loved one can be a challenging task, and it takes a special person to get the job done right. Patience and compassion are the two top qualities a caregiver must possess in order to be successful. Caregiving Across The Miles-Tips for Successful Long Distance Caregiving Caring for a parent or a loved one is a difficult job. Your duties as a caregiver become increasingly difficult as the miles increase between you and your loved one. As the Baby Boomers Age Many employees today are calling in sick - not to care for themselves or their children, but to care for their aging parents. Baby boomers are rapidly moving into the role of caregivers for their parents, but with a few extra challenges due to the changing face of our workforce. Scaling Down (almost) Painlessly Moving to a smaller house or apartment in a retirement community almost always involves a certain degree of trauma, both for the elder who's moving and for family members. However, by planning ahead you can reduce the discomfort involved and turn what might well become a nightmare into a pleasant event. A look at Assisted Living Facilities Assisted Living facilities are generally for person's 60 years of age and older. Typical candidates need assistance with "Activities of Daily Living" (ADLs), but wish to live as independently as possible. How Seniors Can Benefit from Anaerobic Exercise by Phil Campbell, M.S. Getting your senior to wear adult diapers Q: My mom is in the early stages of dementia and she is also incontinent we have tried to get her to stop wearing her underpants and have her start wearing pull-up diapers, she throws the Depends out the door and puts her underpants on. Of coarse we have a lot of laundry! How should I handle this?A: This one should be fairly easy to solve.
|
| home | site map | articles |
| © 2006 |