long term care insurance Articles

Just because your parents have long-term care insurance doesn’t mean their long-term care will be covered.

Fulfilling claims has turned out to be more costly than the insurance industry anticipated, explains MainStreet.com. When big providers like Metlife stopped offering this type of insurance, other companies took over, “managing existing policies and selling new ones while trying to stem their own growing losses by raising premiums and cutting benefits,” the site reports.

This …Read more ›

If your parents bought a long-term care policy way back when, that’s wonderful. But there’s a “but”: Times have changed, and insurance policies bought years ago have not.

An article at the website for The New York Times reveals struggles people have been having when filing long-term care claims with these old policies—some of which were sold by companies no longer in business. Some claimants have a better time than others. Of …Read more ›

People who watch their loved ones go through a difficult old age often think about getting long-term care insurance, says ​The New York Times​. But be extra careful about making decisions during this time, the article advises. There are different types of policies to consider, and in the end, long-term care insurance isn’t right for everyone.

“You should never make a financial decision based on emotion,” said …Read more ›

Long-term care insurance seems to be in transition. Over the last couple of years, big carriers have pulled out of the business, premiums have gone up and new products have been hitting the market, reports USA Today.

Because some people fear paying for costly long-term care insurance when they may never need it, companies are coming up with new solutions, the article says. Today’s policies include:

• Shared care products that allow a …Read more ›
  

One of the ways to pay for skyrocketing senior care is through long-term care insurance. But that option is getting more and more out of reach, reports Longmont Weekly, a newspaper in Colorado.

“Lifetime benefits are going away,” said Michael Bellmont, a Boulder County long-term care insurance agent. “Every time they release a new policy, they become a little wiser and revise their rates.”

This means policies available today are more expensive than …Read more ›

Yesterday, we pointed you to an article that gave tips on how to combat rising premiums for long-term care insurance. But if you have some savings built up, you may find this Chicago Sun-Times article interesting as well. It talks about alternatives to traditional insurance.

One of the options is a combination life/long-term care policy, such as Genworth’s Total Living Coverage. The Sun-Times explains:

It leverages your savings to make …Read more ›

Hopefully you haven’t noticed it personally, but just so you know, long-term care insurance premiums are on the rise. If, however, this cold fact has made itself known through your bank account (or your aging parents’), Reuter’s has some tips on what can sometimes be altered to get those rates down.

Here’s a tip you may not have heard: If you stop paying your policy while searching for a new one, you …Read more ›