Insurance Benefits - Greenville Blue Cross - Taylorsville Blue Cross 941

By: Don Fahtee

According to a 1999 report from the National Council On Aging, 80% of all long term care is provided by family members, two-thirds of whom may still be working either full or part-time. One of the greatest risks faced by America's elderly is the need for long-term care. Most states have a cap on benefits, but needless to say, it is a good value for the resident. This extended "look-back periods" for gifting to five years from three years. Even so, most parents would like to leave something to their family, even if it is just the value of their home for their survivors to sell and split the proceeds. According to the following rules A Spouse may keep between $13,740 and 68,700. Duane Lipham is a Certified Long Term Care (CLTC) consultant. With the three quotes I reviewed the difference ranged between 7% and 22%. Isn't it because a good home owners policy can help protect against major damage to your home from fire, flood, and other disasters? Since a person's home is often their most valuable physical asset, it only makes sense to protect yourself against financial ruin that could arise if you had to pay to completely replace your home after a major catastrophe. Women need care for longer (on average 3.7 years) than do men (on average 2.2 years). Every State has their own rules about what income and net worth requirements will qualify you for Long Term Care assistance. The point is that there is a great difference in LTCi policies from one company to the next, especially depending on your health history and habits. Most financially stable and healthy insurance companies will have at least an "A" rating by the major insurance ratings services such as A. And in these cases, an argument could be made that those who will benefit most are the loved ones who are not suddenly and unexpectedly thrust into the role of caregiver with very little training and preparation. Here are some qualification rules in use by the State of Missouri as published in the Consumer Guide for seniors from the official Web page for the State ( (For other States check the State.gov web page and then search on insurance and long term care). If at all possible, folks want to stay within the confines of their own home where they are comfortable versus living in an an institutional setting. Long term care insurance coverage simply MUST be considered by everybody who can medically qualify for this important coverage. Would you consider having a home owners insurance policy a wise investment? If so, why?. The older you get the greater the risk that you will not be accepted but, if at the age of 70, you are still a viable option for long-term care insurance the annual cost will probably be more than double the cost of a 60 year old at around $1,600 to $2,000 or more. Long term care insurance coverage simply MUST be considered by everybody who can medically qualify for this important coverage. Since so many of us are going to need long term care at some point, we have to wonder whether or not we should purchase long term care insurance. With the three quotes I reviewed the difference ranged between 7% and 22%. Would you consider auto liability insurance a wise investment for a person that has assets that need protection? If so, why?. Their are low cost Alternatives available for seniors who just can't afford the rising cost of these Premiums. The law now treats these as if the gift never took place for Medicaid eligibility. Also on gifting, whether money or property - the penalty calculation would be figured from the date of application for Medicaid instead of from the date of the gift. The cost of long term care insurance depends on your age, the benefits you choose, the length of coverage and other factors. Taking out long-term care insurance another ten years later resulted in a further increase of 11% - 16%. For more on long-term care, health and life insurance visit my website 24-7-insurance.com.

Article Source: Loan Info Center

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