Confusion starts with the definition of Disability Insurance where people get Short Term Disability and Long Term Disability confused with Long Term Care. There is a distinct difference between the two insurance plans and in order to have a better understanding of the difference, we need to know what each insurance vehicle offers as protection.

We’ll start explaining what Disability Insurance offers without going into too much detail as in Long Term or Short Term Disability: In a nut shell, Disability insurance provides a portion of your income for a certain period of time when you are disabled while you are employed. What this means is when you get disabled, you may receive up to 40, 60 or maybe 80 percent of your total income for a specific period of time. Further more, this also means two things:

(1) You are not going to receive any supplemental income for the cost of your care through your disability insurance; all you are going to receive is the portion of your income.
(2) You will receive a portion of your income for a specific period of time. When this period is over, your income from your disability insurance will seize.

So you can actually see that the benefits of Disability Insurance are very specific and limited. Nevertheless this simply doesn’t mean that Disability Insurance is not a valuable protection plan. When you learn the benefits of Long Term Care Insurance, you should be able to understand that the two protection plans take separate and important precedence in our lives.

Before we get into the benefits of Long Term Care Insurance, we need to clear out one misconception about this insurance plan; Long Term Care Insurance is not necessarily some insurance plan that you purchase to get care when you are older, and it is not particularly a nursing home care either. People get into Long Term Care situation in younger ages too and Long Term Care Insurance is a great protection plan that provides many valuable benefits.

Among many of these benefits, of course the most important one is to provide funds for your care when you are unable to do some of your daily activities. This is actually the main difference between this plan and the Disability Insurance; Long Term Care Insurance does not provide income or any portion of your income, it actually pays for the cost of your care up to certain amount which is determined within your policy. In other words, Disability Insurance provides you a portion of your income where Long Term Care Insurance actually pays for the cost of your care. Now you can see the importance and the complimentary nature of the two insurance plans; while you are receiving a portion of your income through your Disability Insurance – which is always less than your regular income, you will also have your Long Term Care Insurance paying for the cost of the care that you are receiving.

Considering the present high cost of care, and having to pay for it with a limited income may become an enormous financial burden. This is one of the most important reasons why these two insurance plans exist. It is also as important and highly recommended that you should consult an insurance professional who can coordinate and design these policies according to your specific personal needs for your full protection.

Remember, you must protect the most important asset in your life: Your Earning Power!

Gurhan Gary Demirkan is a member of eSuremenow.com; a network of highly experienced and prominent insurance agents throughout America providing insurance analysis and specializing in implementing diverse insurance plans towards basic or complex insurance needs. You can call us at 703-490-4119 and contact our insurance professionals as well.

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However, long term care insurance isn’t for everyone, if you are wealthy enough to afford assisted living expenses out-of-pocket or if you are poor enough to qualify for Medicaid, then long term care insurance might be not be for you. However, if you do not fit into either of those two categories, long term care insurance might be an attractive option.

Many individuals rely on relatives and loved ones to provide care as they get older. But circumstances arise and you can never be sure if that unpaid caregiver will always be available to care for you.”

That is where long term care planning and insurance steps in. Should your relative or loved one not be able to continue caring for you, your need for care does not decrease any and therefore you need someone there to pick up the slack.

With the help of long-term care insurance, you have the monies to help pay for services you need in your home. Long-term care health insurance makes it possible to continue to receive care and still stay at home. At home care costs less than assisted living or nursing homes so in fact your money will last longer.

Nursing homes and assisted living centers can be pricey if you are staying just for days, let alone years and the price for long term care insurance reflects that but there are ways to save when purchasing such a policy.

There are several steps to take to ensure you are getting the best possible rate available on your long term care policy. Purchasing a joint policy with your spouse or partner, asking your employer if your company can subsidize the cost in any way, purchasing a policy that has a longer waiting (elimination) period, taking advantage of your younger age and good health also provides discounts. It doesn’t make any sense to wait until you are older and closer to needing long-term care to then consider purchasing long-term care insurance.

Do yourself and your family a good deed by getting the information on long-term care financing and planning. Knowing ahead of time where the money will come from to pay for long-term care will greatly reduce the stress and anxiety that comes with a long-term care event. With good sound long-term care planning, you won’t have to sell your home, stocks or other assets at a time when it may be very expensive considering tax consequences or a down market.

You can get great free information and articles regarding Long-Term Care and Long-Term Care insurance at http://www.LongTermCareInsurancePros.com and download a Free Ebook. You can visit his blog at http://www.LongTermCareInsurancePros.blogspot.com Dane Petchul, LTCP, CLTC is a Long-Term Care insurance Specialist. He counsels his clients in Long-Term Care Planning and insurance.

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While you may not think so at this time, there is a very good chance you will eventually have to consider Medicare benefits. It has been estimated that by 2012, more than 12 million individuals will need this type of care. This means that those who reach the age of 65 will have a 40% chance of being placed in a nursing home. In addition, 10% of these individuals will stay in that facility for five years or longer. This is why it is so important to choose your medical care provider carefully.

Just as choosing a provider is important, so is planning your medical needs. Again, not many people think this far ahead in the future, but it is extremely important to plan for your future care needs . This planning is not always easy to do, so to make it a little easier, there are a few questions to answer. These questions and answers will help you make an informed decision. First, you should examine what types of care you may need. Next, consider how those needs may change over time. After that, determine your choices when it comes to insurance companies and providers. Finally, always be aware of the cost and how much you will be able to afford. After answering these questions, you will have a better idea how to plan for your nursing home needs and will give you knowledge about what kind of insurance coverage you will need when you retire.

When looking for insurance, there are many things to consider beyond the questions that were mentioned above. When comparing insurance, you want to find out what the protection from inflation is. Since many insurance companies only provide a fixed daily amount, you may opt to buy additional insurance for a Medicare supplement to offset the costs. You also want to consider the amount of coverage the insurance company offers. The cost of long term care varies, so you must think about where you may be residing when you are older. The length of coverage is also important. Some insurance companies offer coverage that will protect you anywhere from 2 years through the end of your life. Typically, nursing home costs will require 3 to 5 years of coverage. Finally, consider your insurance carrier’s financial health. If you choose to buy lengthier care coverage, make sure that the insurance company will be around for a long time.

There are many online tools that can help you determine how much insurance you may need. These calculators will determine the estimated cost of coverage and will factor in what financial resources you already have available. They can be very useful in planning the amount of care time you need and choosing the right insurance coverage.

Most expenses for home care are not covered by Medicare, but some are covered by Medicaid. This is because the Medicaid program is based on the financial needs of the individual. You will need to pass an asset test to qualify for the Medicaid benefits. The end result would mean having to spend all of your assets before becoming eligible for Medicaid coverage. The government now allows policyholders of long term care insurance to exhaust their current benefits to receive financial assistance instead of using their life savings.

Under this program, if you purchase an insurance policy and your benefits run out, you will then qualify for Medicaid and be allowed to retain your assets, as long as they are equal to the value of the insurance you had purchased. Without this program, you would be required to spend all of your assets before you would be eligible for Medicaid coverage.

Unfortunately, only a few states have the above program in place, but 30 more states are taking the steps to get the program in place. You can find additional information at longtermcare.gov. This site will provide you with current information regarding your state’s status on the program. You have one shot at submitting an application form to Medicaid. Do not submit it until it has been reviewed by an expert – it could cost you tens of thousands of dollars.

States typically offer online forms that you may download and print, however no states allow you to currently apply for Medicaid online.

Learn how to protect your assets from potential frivolous lawsuits, preserve your wealth by recapturing lost tax dollars, defer capital gains taxes, eliminate inheritance taxes, reduce taxes on your income streams, eliminate probate and estate taxes. You will receive tax efficient wealth transfers to your next generation. We will utilize means of domestic LLCs and international offshore tax haven strategies and customize our program to meet your highest yield expectations and more. Contact us today if you have any questions. Rocco Beatrice, CPA, MST, MBA, CWPP, CMMB, CAPP, BSBA
Asset Protection
Long Term Care Insurance
Boston, MA: 71 Commercial Street #150 Boston, MA 02109
toll-free: 888-93ULTRA (888-938-5872) tel: +1.508.429.0011 fax: +1.508.429.3034

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Let’s go through the changes and the impact of economic conditions on our families:

• Dual income families were created: Our family structure is not how it used to be. We do not have one bread-winner and one house-maker anymore. Most families have both of the spouses required to work to accommodate the needs of the families. Further more, younger children may even have to work to contribute to the family income.

• Fewer Children: The cost of having children has become increasingly expensive. Not only the basic needs of children, the increase cost of education and health care became a big concern, which consequently caused families to have fewer children.

• Children in later years: Besides having fewer children, couples started focusing more and more on their careers and their economic well being as they postpone to have children in their later years of marriage.

• Single parent household: Besides the economic conditions, there maybe more than one reason for this incident, yet one way or another, number of single parents has been in the rise for the past decade.

• Sandwich generation: Due to having children in later years of their lives combined with the aging baby-boomers, families who have to take care of their younger children as well as their parents at the same time have been in the rise for the past decade. This indeed becomes a bigger concern when both spouses have to work to provide for their families.

• Geographical dispersion: This is in fact one of the biggest dilemmas that occurred in our country. Children and relatives have moved far away, looking for work or pursue careers, as it became harder for families to live close by, yet along under the same roof.

We also need to add the recent medical improvements into this equation: It is a well known fact that the recent medical improvements provided longer life span for Americans. If you compare the average life expectancy of Americans in 1900s versus 2000s, you will notice that there is a significant increase in the life expectancy of our people from 40 years to 80 years. However, living longer doesn’t necessarily mean living healthier throughout your life. The prolonged life expectancy also brought illnesses such as Alzheimer’s, dementia, etc.

When we consider the recent economic changes the way that they impact on our lives, it becomes much more apparent that living longer combined with the changes in our family structure and demographics resulted in circumstances where children may not be able to meet the needs of their aging parents. Because of this, elderly may have to rely on professional help, which of course comes at a cost.

This cost can in fact be put into three categories:

• Cost of loss wages related to taking off from work in case of a Long Term Care situation.

• Cost of loss wages for people who have to take off from work to care for the person who is in Long Term Care situation.

• Cost of Long Term Care that a person has to pay.

Taking above realities into account, it should become quite obvious that paying for Long Term Care can become a considerable economic burden on families as well as for the person who is in need of Long Term Care. Consequently, considering Long Term Care Insurance should be one of the foremost options to avoid this burden to protect your wealth, income as well as your independence.

There is also a 15 minute seminar that explains the impact of Long Term Care on economic well-being and how Long Term Care Insurance can protect your assets and income; http://www.esuremenow.com/LongTermCareInfo/LTC_For_Asset_Protection.htm

It is worthwhile to watch it to have an in-depth understanding of protecting your assets and income in case of a Long Term Care.

Gurhan Gary Demirkan is a member of a network of highly experienced and prominent insurance agents throughout America providing insurance analysis and specializing in implementing different insurance vehicles towards basic or complex individual insurance needs. You can contact our insurance professionals.

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However, differing kinds of policies can actually prove to be bad or good better for different folks depending on need and other things. It is important to grasp how to differentiate between a bad and good life long term policy for gaining maximum benefits. Of the three kinds of policies, the Term life insurance Policy is the commonest.

It includes a maximum of 30-year validity. Folk who don’t find a limited-period policy suitable turn to the Regular long-term life insurance Policy. This type of a policy offers bigger money value and a double-payback but then, it’s far more costly that the first one. Also, the premiums are mandatory and bigger.

Insurance product sellers say the Regular long term Insurance Policy assures greater savings. But if some time is spent comparing the benefits, in some cases the Term life insurance Policy may just turn out to be way better. It depends on many factors like age of the person being insured for example. It is not very practical to simply pick up a policy because you and your family don’t have to worry about understanding its details.

There is always the internet to turn to for finding details, reasons and options for all kinds of insurance programs. There are blogs, websites and forums with people debating about the ins and outs of insurance programs in real time. It is a good idea to read these and participate in them before picking up a life assurance policy. In fact, the web can help you connect to Insurance Policy providers offering something like a cheap Term Life Policy with features that suit your individual desires.

Before you get down to filling a form and checking up with an insurance broker, on the internet or in real life, correctly organize a file with your latest health stats including blood pressure, sugar level, cholesterol and weight graph. This will help you negotiate a better deal with the insurance company. Typically, insurance plans with a basic premium quantity of $50, 000, $250, 000 & $1, 000, 000 offer you the best rates.

Sometimes it is a brilliant idea to go round your negotiations with the insurer’s broker and check things out on the internet where everything is laid out in great detail giving you all of the information on policy periods, quotes, conditions, factors and so on. You can study these yourself and take a decision.

There’s one major advantage with a long term life assurance Policy. If you go in for an annual subscription, you can be allowed a smaller premium amount. This can be particularly worked out if your employer is prepared to pitch in. You can get a further discount if your employer agrees to pay the insurance company immediately. But even if which policy suits you most perfectly or not is a time-intensive decision, do remember the earlier you pick up an affordable term life insurance policy, the more that you stand to benefit.

Before you go out and buy a policy go to Long Term Care Insurance, ask questions and request a long term care insurance quote. We represent 20 of the top LTCi providers. This gives you tremendous options.

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Just under one-third (31%) of respondents to a study conducted by the long-term care insurance trade association knew HSA dollars could be used to purchase insurance protection.

The growth of Health Savings Accounts, first introduced in 2003, has been dramatic. Some 8 million Americans are now covered by HSA-qualified high deductible health insurance plans, over six times as many as were enrolled in March 2005 plans. Experts note this still represents a small percentage of those eligible for the tax-advantaged savings plan.

The average amount invested in an HSA account for individuals between ages 41 and 50 is $6,249 according to the First Quarter 2009 report by Canopy Financial. For a family, the average invested is $9,757. Account balances for those ages 51 and over exceed $11,000.

People understood they could use their HSA funds to pay for medical costs and drugs but few knew they could use the pre-tax dollars to purchase long-term care insurance protection either on an individual basis or when it is offered by their employer. Tax-qualified long-term care insurance premiums can be reimbursed through an HSA, tax-free up to the Eligible Premium amount that is indexed each year.

The 2009 Long-Term Care Insurance Price Index notes that a 55 year-old individual in good health would pay $723 a year for $115,000 in current benefits. The coverage would grow to over $305,000 of protection 20 years from now. The entire cost of their premium could be paid using the tax-advantaged HSA account. This is a significant cost saving advantage available to employees.

Government studies report that for individuals making HSA contributions, about 41 percent did not withdraw any HSA funds within the same year, while about 22 percent withdrew as much or more than their reported contributions. About 93 percent of reported withdrawals were claimed for qualified medical expenses.

Some 8 million Americans own long-term care insurance according to industry experts. Experts predicts that if more people understood they could use their HSA dollars to obtain protection, the number would grow by at least 20 percent.

2009 Eligible Tax Deductible Limits for Long-Term Care Insurance

Age 40 but not yet 50 $ 600
Age 50 but not yet 60 $1,190
Age 60 but not yet 70 $3,180
70 or older $3,980

The American Association for Long-Term Care Insurance is the national trade organization providing consumers with relevant and current information designed to help you make smarter decisions. The Association does not sell insurance products but works with several thousand insurance and financial professionals nationwide. Consumers should visit the Association’s Consumer information center to access free information. Insurance and financial professionals should visit the Association’s Producar’s resource center. Jesse Slome is Executive Director of the Association.

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The research shows that a one-year stay in a nursing home averages almost $75,000 for a exclusive room or more than $62,000 for a semi-private room. By the year 2030, the same stay in a semi-private room will cost an estimated $195,000, more than tripling over the next 25 years. Majority of Americans cannot save a sufficient amount to cover these astronomical costs on their own. Americans are living longer than ever before. That is a pleasant news, but it has several risks. One of those risks is that many upcoming retirees will be facing enormous long-term care costs.

Indeed, this matter is of particular relevance to women because, generally, they tend to live longer than men. A 65 year-old woman has a 50 percent probability of wanting nursing home care in her lifetime, a cost that might potentially wipe out her retirement savings. The question now is what can be done? Life insurers suggest long-term care insurance. Long-term care insurance is a fundamental element of a sound financial strategy for retirement. It helps individuals maintain self-sufficiency in retirement if they require long-term care services.

On the other hand, long-term care policy holders do not have to depend mostly on government programs or their household to pay for care. Moreover, the product has evolved over the years. It now offers a broad range of services in a variety of settings. Some well recognized policies may include reimbursement for respite care, medical equipment, care coordination services and also home modification. Long-term care insurance provides retirement security to millions of Americans.

But the reality is that plenty of people deserve the protection it offers. With long-term care insurance as part of a retirement plan, majority of Americans are at this point better equipped to safeguard their life-long savings and maintain their standard of living. This is without doubt, a good development and a good news for everybody.

Obina Heche is an expert in his field in the present day, he has put up his residence at California USA. For more information on long term care insurance and how to obtain a policy, visit Long Term Care Insurance

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What is long term care insurance? And is getting such an insurance policy really necessary? Long term care refers to care that one might need if he becomes unable to perform ordinary day to day activities. Reasons for being unable to do so may include injuries, disabilities, chronic illnesses, and aging. This also includes the supervision one may need if he has been impaired by a disease such as Alzheimer’s. Long term care refers to the provision of constant care that may extend over several years. Long term care insurance is used to pay for the expenses incurred in this type of set-up.

If you have decided to purchase insurance, you have the option of buying an individual plan or a federal long term care insurance program. One of the main issues pertaining to federal insurance program, and this applies to most insurance programs offered by the federal agencies, is its availability. It is not open for everyone. Some individuals who may avail of federal insurance programs are federal employees, members of the uniformed services, and retired employees. Relatives of said individuals who qualify for the program are also entitled.

Here are some things you may need to look into when comparing this type of federal insurance program with one provided by an independent company:

- Most insurance companies can provide substantial discounts if an individual applies for the insurance policy together with his spouse or partner.
- For privately owned insurance companies, the benefits provided by their policy can be modified to fit an individual’s financial circumstances. Generally, policies offered by private insurance companies provide more extensive coverage for far less cost.
- Federal insurance programs sometimes come at a higher cost and, at times, enact penalties on home health care benefits.
- Programs from private insurance companies provide better benefits for more affordable rates.

Going for long term care insurance is a good way to protect oneself and his family should the need for constant care arise. In purchasing a plan, one should look into the price, the benefits, and also go over the implications that are brought on by the company who offers the plan.

It is important to compare insurance quotes before getting signed up with an insurance policy. When you compare insurance quotes you can rest assured you are saving both time and money because you are guaranteed to get the lowest insurance quote.

Given the current recession it is important to make sure to prioritize your money and compare insurance quotes online. A good place to state would be an online website that actually allows you to compare insurance quotes online for free.

A good site to compare insurance quotes online can be found here: Find Cheap Insurance Online

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Should I consider purchasing a long-term care insurance policy?
If you are at least 45 years of age, you should consider purchasing a LTC insurance policy. This should be part of your overall insurance portfolio along with life insurance and other insurance that you need. However, you should evaluate your insurance budget. If you only have a budget that will cover a comprehensive life insurance policy, do that first. Prioritize your insurance needs and don’t put yourself or your family into a financial hardship just to purchase a long-term care insurance policy.

Won’t Medicare and Medicaid pay for my long-term care?
These two programs are designed to help low-income people who are qualified to take advantage of the services. However, both of these programs have limits to coverage and they also require co-payments and other financial requirements. You should not depend on these programs to take care of you on a long-term basis if you want to leave behind any assets for your family or heirs.

Doesn’t my medical insurance policy cover long-term care?
A medical insurance policy is typically limited to short-term care. If you have an injury or illness that requires medical attention, your medical insurance policy will likely cover it for a certain time. Once you start healing or reaching the maximum payout of your insurance coverage, you may not be able to have the medical services paid for. Medical insurance is designed for treatment with a foreseeable end date. LTC is designed for daily living expenses and medical care that has an indefinite end date.

How much long-term care insurance should I buy?
When deciding on a long-term care insurance policy, there are typically two factors to consider. The first factor is the amount that you can afford to pay on your premiums. The second, and possibly more important factor, is determined by the daily rates of where you would want to stay if you ever need to take advantage of your LTC policy. Assisted living facilities charge less than nursing homes but rates are different depending on which facility and the geographic area in which you are staying. You will have to do some research to determine how much long-term insurance care you will need. As an insurance agent, you can help your clients determine the amount of insurance to purchase based on these factors.

These are just a few of the common questions that people often ask about long-term care insurance. By knowing what questions to prepare for, you can equip yourself better for each meeting that you have with a client who is interested in purchasing insurance.

If you are interested in a agent support system that provides all the tools, support, and resources you will need to either become successful in insurance sales and/or build your own agency visit the links or call 1-800-359-0980 (ask for Dan or Scott) to help you decide whats best for you!

Thank you and make it a great career,

Daniel B. Hagy
President

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