Daily Archives: February 22, 2018

Long Term Care Insurance Cost

Check the map below. In recent times, there has been a lot of buzz and debate over the rising cost of long term care insurance plans. What is “Long Term Care Insurance?”. (LTC or LTCI are the abbreviations used). Insurance is an individual need hence it is very important to assess your needs before your decide on a long term care insurance plan rather than going ahead with something, other people suggest you. It is very important that you are clear in your mind about your long term health care requirements and buy a plan accordingly. Most common questions we come across are, is long term care insurance worth the price? or should we purchase long term care insurance? Thinking about long term medical care is something which we always avoid in the current world because either we are too busy or we don’t understand the importance of it in the future. Mentioned below are some of the best options to get long term car insurance plan. Long term car insurance majorly helps in covering expenses for assisted living facilities. A recent research conducted by “Fidelity Investments” showed that married couple retiring in 2012 will shell out approx. $240,000 towards health care cost after retirement. This is a rise of 6% over the amount in 2011.


Long Term Care Insurance Cost

Long Term Care Insurance Cost would mainly depend on your age and marital status. The cost for long term health care will vary between states and we need to understand different terms before we actually get into the cost structure for long term care. Some of the terms associated with long term care insurance are explained below and on the map just click on your home state and check for the approx. cost in 2012. The cost is shown keeping annual expenditure. Also, currently enrollment is going on for Medicare Plans in 2013. You can get more information in this article

Medicare Plans And Enrollment 2013


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Cost Shown In The Map Is Annual Estimate

Source: Genworth 2012 Long Term Care Insurance Cost Survey


  • Home Health Aides: This for elderly individuals who are extremely ill and need special medical attention which might not be feasible at home or residential care facilities.
  • Home Maker Services: This service helps senior citizens to live lead a normal daily life and help these individuals to do their daily chores in the comfort of their home. Individuals helping you out through home maker services can complete a variety of daily activities like cleaning the house, cooking food and other daily activities.
  • Adult Daily Health Care: The fundamental functionality of this type of health care for seniors can be compared to kindergarten for children. It’s a special type of service for those who only need care during the day and do not require help at night. This type of service is more inclined towards keeping elders busy and engaging through social and therapeutic services.
  • Residential Care Facilities (More Commonly Known As Assisted Living Facilities): First and foremost, assisted living is not an alternative or compromise on nursing home care. They are not similar. Choosing between the two largely depends on what level of health care facilities and medical attention you require in your daily life. Normally you would find people having any kind of disability opting for assisted living centers. You want to live independently however due to your old age and disability you need supervision and assistance in your day to day activities, then Assisted Living Centers are apt for you.
  • Nursing Home: People who need individual medical attention 24 hours a day as their condition might not be suitable for living in assisted living facilities, would choose nursing home facilities.




Also, when you are purchasing long term care insurance please ensure that you discuss the following terms with the insurance specialist or whomever is giving you the long term care policy (Insurer). I will not be covering each term in detail as that would be a little out of scope of this article but would list down the terms below. I will surely try to cover these in the near future.

  • Daily Benefit Amount
  • Type Of Plan (Group Vs Renewable Plan)
  • Are you getting a standard LTCI product or a LTCI product linked with annuity or life insurance.
  • Inflation Option
  • Benefit Period
  • Alternative plan for health care
  • Gatekeepers, Qualifiers and triggering events
  • Premium Rate Stability (Very Important as this would decide for future increase in premium rates)
  • No forfeiture Benefits

Long Term Care Financing Session In Progress….


Where To Get Long Term Care Insurance

Mentioned below are some of the best and reliable options to buy long term care insurance plans. Please note, these are not affiliate links and in any way I am NOT associated with these offers. My main aim through through my blog is to provide valuable information related to all insurance products so that you are a well informed consumer before you consult am insurance specialist. Each and every article is an endeavour towards proving you the latest and reliable information to make your buying job easier.

JohnHancockltc | Federal Long Term Care Insurance Program | Genworth | LifeSecure | Massachusetts Mutual | Mutual Of Omaha | MedAmerica |Prudential Long Term Care Insurance| TransAmerciaLTC

It is important to note that neither Medicaid nor Medicare will provide cover for long term care insurance. Long term care is provided through federal medicare programs. Mostly all long term care insurance policies have certain limits and exclusion list to keep your premium affordable.

About seguroquesinm.com

n New Mexico, the Open Enrollment deadline has not been extended. However, customers who were unable to successfully enroll in a plan by March 31 may still qualify to sign up on a case-by-case basis. Call 1-855-99-NMHIX to add your name or find out if you’re still eligible.