On the subject of long-term care insurance, Orman called it "a must if you can afford it."
Long-term care insurance (LTC) is one of the most important insurances anybody can get, from the day you buy it to the day you use it. Average age of entry into a nursing home is 84. If you buy it at 60 and all of a sudden you are 75, you can�t afford it anymore. The insurance company took the correct bet that you�d drop it right around the time that it�s really important. My greatest advice to you would be that if you are going to buy LTC, you need to know that, without a shadow of a doubt, it is going to be an easy expense for you to meet every single year for the rest of your life.
Get insured. We�re living longer than ever before. And with that comes the hard truth that we don�t know how we�ll fare. �That�s why it�s important to get long-term-care insurance in your 50s,� says Orman. It will cover nursing home, assisted living or in-home health care costs, which can take a big chunk out of your bank account�or your kids�!�otherwise. Don�t wait until after 60 to purchase it, however. You�ll face higher premiums and may be denied coverage because of a preexisting condition. Act early and give yourself peace of mind.
Get a free quote:
Visit our site:
www.MintcoFinancial.com
Call us:
813-964-7100
716-565-1300
Email us:
anecamara@mintcofinancial.com
Showing posts with label life insurance and long term care insurance combo. Show all posts
Showing posts with label life insurance and long term care insurance combo. Show all posts
Life insurance and Long term care insurance combined
Combine life insurance with long-term care protection to preserve your assets.
Purchase a whole life insurance, with a rider to the policy which pays for long-term care ( home care or care in an assisted living or nursing home). If you do not utilize the long term care benefit, your beneficiary will receive the policy�s face amount.
Example. You apply for a $500,000 whole-life insurance policy, with a rider for long-term care that will pay you 2% of the face amount each month if you need long-term care services. Therefore, you will receive up to $10,000 monthly ($500,000 x 2%) to pay for home-care, assisted living, or nursing home services. Consequently, if you utilize $200,000 for long-term care, your beneficiary will receive the balance $300,000 when you die. Additionally, you can save a certain amount of assets if you enter the nursing home.
Please also check more information and cost of the Life Insurance and Long Term care Insurance Combined: http://www.mintcofinancial.com/files/pdfs/Nationwide%20Life%20Insurance%20LTC%20rider.pdf
Mintco Financial has helped over a thousand of people to apply for Long Term Care Insurance and protect their assets.
Contact Michael Minter at 716-565-1300 or visit the website www.MintcoFinancial.com
Purchase a whole life insurance, with a rider to the policy which pays for long-term care ( home care or care in an assisted living or nursing home). If you do not utilize the long term care benefit, your beneficiary will receive the policy�s face amount.
Example. You apply for a $500,000 whole-life insurance policy, with a rider for long-term care that will pay you 2% of the face amount each month if you need long-term care services. Therefore, you will receive up to $10,000 monthly ($500,000 x 2%) to pay for home-care, assisted living, or nursing home services. Consequently, if you utilize $200,000 for long-term care, your beneficiary will receive the balance $300,000 when you die. Additionally, you can save a certain amount of assets if you enter the nursing home.
Please also check more information and cost of the Life Insurance and Long Term care Insurance Combined: http://www.mintcofinancial.com/files/pdfs/Nationwide%20Life%20Insurance%20LTC%20rider.pdf
Mintco Financial has helped over a thousand of people to apply for Long Term Care Insurance and protect their assets.
Contact Michael Minter at 716-565-1300 or visit the website www.MintcoFinancial.com
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