Friday, May 27

Long Term Care

Long Term Care

How Life Insurance Without a Medical Exam Works

If you are a breadwinner, you want to make sure your loved ones are well provided for when you are no more. The right insurance coverage provides financial support to your family for losing an important source of income, over the short-term. This will give them ample time to adjust to your demise by finding other sources of income to replace the lost income.A good coverage will ensure all the debts, including mortgage are paid off. Therefore, your dependents do not have to become homeless. However, some people choose to go without insurance because they are unwilling or unable to undergo a medical exam, as required by the traditional insurance packages. Fortunately, many of the leading insurance companies offer life insurance without a medical exam. How does the policy work?· No me...
Long Term Care

Demystifying The Myths Of Insurance

Whenever something new begins to shape up, there always seems to be lies and all sorts of truths going round about the matter. Some draw info from irrelevant sources and link them. Others simply start stating something, in an effort to seek recognition and attention. It usually takes a while before the air settles and the truth grasps its roots. Nevertheless, the truth always stands at the end of the day. The scenario is no different when it comes to matters of insurance. Misleading info leaves those who are to benefit from it to lose out and end up in regret more often than not. To clear the air on such issues, here are some lies and half-truths to chew upon and thus able to give the concrete truth about the matter of whole life insurance coverage:1. I have no dependents, so I need no cov...
Long Term Care

Waiting Periods in the Life Insurance Business

People who often are beneficiaries of claims by policyholders need to know some of the facts about filing claims so that they do not hit a dead-end while doing so. First, you need to understand the terms and conditions by which the policyholder agreed to sign in to an agreement with the insurance company. Too many people either have lost money left over by their deceased or have filed claims to insurance companies with zero results.The first thing that you need to do, both as the policyholder and the beneficiary is to go through the terms and conditions of the policy, understanding the fine print with the help of an agent or a representative of the company. It may not be a bed of roses to come to such a meeting, but it will help you clear the air and assist you file a claim easily.That sai...
Long Term Care

How Taxes Might Be Affected By Long Term Care Benefits

Long term care insurance policies offer a great deal of benefits that are exempted from federal taxation and most state income taxes. Premiums paid on the policies are treated like health insurance premiums, so they qualify for federal income tax deductions. However, there are limits based on age.The federal government's tax deductible limits are based on total annual premiums paid and the age of the policyholder. For people age 40 and under, the maximum annual deduction on long term care insurance is $360 for 2013. Those aged 41 through 50 have a maximum annual deduction of $680 while people from age 51 through 60 have a maximum deduction of $1,360. The deduction for people from age 61 through 70 is $3,640 while those over age 70 have a current maximum deduction of $4,550.The tax-exempt s...
Long Term Care

Life Insurance Quotes Online Without Getting Lied To

Life insurance is recommended highly for all. If you are a breadwinner, a good policy will ensure your loved ones are financially secure when you die. However, you need to be sure you are buying from a reputable company to avoid an insurance scam. Buying insurance from an illegitimate company can prove a legal nightmare. Your family will be left without any financial support or stuck with a legal battle when you are no more. In addition to comparing life insurance quotes online, it is advisable to research prospective service providers. Furthermore, reading the contract carefully will save you many hassles and unpleasant surprises. The steps for buying insurance and avoiding scams include:Step 1: Shop for insuranceYou can consider using the services of a reputable insurance agent to help y...
Long Term Care

Three Things to Know About Long-Term Care Insurance

Does your financial plan take into account all of the possibilities regarding your health and your ability to care for yourself in the future? Most people don't think twice about insuring their possessions, or protecting their families with a life insurance product. Yet many pass on the opportunity to purchase long-term care insurance, hoping they will be fortunate enough to avoid the need for costly extended care in their lifetime or believing they will somehow manage with their own resources if they do require it. Here are three reasons it makes sense for some people to consider investing in a long-term care insurance policy.There's a good chance you'll need some form of long-term care. According to the Department of Health and Human Services, 70 percent of Americans age 65 today can exp...
Long Term Care

Mistakes Made When Buying Life Insurance

Insurance helps to generate a desirable peace of mind. There are many other reasons why you should consider buying insurance. Indeed, it is wise and practical to anticipate the position of your loved ones to pay their bills in the event of your untimely death. Sometimes, it is advisable to consider the combination of the term and/or whole life insurance benefits to help your family cater for their daily expenses, college education, medical bills, mortgage, funeral costs and much more. To get the best deal, it is advisable to compare free life insurance quotes from different insurance companies. Nevertheless, the mistakes you are likely to make when buying insurance include:· Avoiding medically underwritten insuranceIt may sound appealing to purchase insurance policies that do not r...
Long Term Care

Different Types of Long-Term Care Insurance (LTCI) Policies

You'll have to decide the type of insurance product you want to purchase. Depending on the type of policy you select, there may be a significantly different type of health benefit structure. This is a key factor that determines the complexity.- Individual and Group Coverage: This is a common choice for a lot of people. They choose a freestanding LTCI policy that comes with only long-term care benefits. Anyone can apply for an individual commercial LTCI policy. But it's good to know that many people are also eligible for a group product that is sponsored by a private or public employer, a faith-based organization or an association. Group policies are usually less expensive. The medical underwriting is less stringent as well.- Partnership Policies: Those who are from one of these four states...
Long Term Care

What Must You Know About Long Term Care Advice?

When you are putting a parent or relative at a care centre, it can be a stressful time for both of you. Deciding about the way you must pay for them at these care centres can be a daunting task as it can be an expense in your monthly budget which might cause a big headache for salaried persons like you. Some of you might be even thinking of selling the homes you have to afford for such care homes. This is nothing shocking as you might be ready to spend anywhere between £ 750 and £ 1000 each week. This means as a family, you will have to spend a huge sum of £ 39,000 to £ 52,000 each year.This is a nightmare, which scares most of the families living on a simple salary, not to mention of the complexities of the rules laid by state to avail the funds of NHS. This issue is then made even worse ...
Long Term Care

Tips for Buying Life Insurance for Seniors

We all have a moral obligation to ensure our loved ones do not bear an overwhelming financial burden when we are no more. If you are a senior citizen you may not want to leave your spouse or your children with the financial responsibility of paying off your debt, medical costs, legal costs and/or funeral expenses. As you shop for a policy, it is important to choose a plan that discloses the time you will be eligible for benefits. The following are some of the tips to consider when buying life insurance for seniors, including:· Guaranteed acceptanceMany of the seniors are reluctant to shop for insurance because they assume they will be denied or end up paying high premiums as a result of their advanced age and/or pre-existing medical conditions. Therefore, a guaranteed acceptance policy com...