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Showing posts from October, 2017

Have funds under savings? Is long-term insurance for me?

Long-term care insurance ! Is the insurance policy which is designed solely for the coverage of long-term care. Long-term care is the assistance needed for the day to day activities of a person due to chronic illness/injury or aging. Now with this, the first thought which comes into a person mind is that- Already I am saving for my future, have set my retirement goals, do I really need to purchase a long-term care insurance? I have my savings and my family is there to take care of me in the future are the first things which tend towards dismissing the decision of purchasing a long-term care insurance. There is a constant doubt in every individual mind towards whether to contribute a sum of money now towards the insurance for potential cost down the road, or just the savings would do the job. A living facility or a hospital bed would cost around 20,000$ per person, isn’t this high? Not only will it tend towards depleting your savings but also let you compromise your

8 mistakes to avoid while making the pick for long-term care insurance

Should I buy a long-term care insurance ? Is the question with which maximum people struggle with before coming up with any decision . According to research reports, it was studied that 70% of people over the age of 65 would eventually require long-term care be it at home or living facility. On the other side, the price of long-term care insurance keeps increasing with age of a person. While on one side lies the people who can afford a desired long-term care from their while there are others who rely on medical insurances to do the job for them. But unfortunately, medical insurances have its own limitations and does cover the full-time cost of long-term care. Now for these set of people who are looking for options to secure their savings, purchasing a long-termcare insurance can be a tricky affair. Here I shall be jotting down 8 such mistakes to avoid while making the investment on long-term care insurance 1. Waiting for the right time of purchase: Most pe

What is the right age for long-termcare insurance?

Every time one is looking for a long-term careinsurance , the first question that arises in one's mind is it what I require and is this the right age to invest in long-term care? At the conclusion of such arising queries, usually, people end up with the delay in buying the right long-term care insurance. The need for long-term care is not considered necessary until there comes the necessity of availing such services. Timing is highly essential when it comes to opting for long-term care insurance. Since, if it's too late to sign up for such insurances then they end up paying higher premiums or end up being non-eligible for the insurance. While on the other side by buying it too early, you can end up with years of premium before you actually require the care. In short weighing, the pros and cons of the policies and deciding the right time is solely important for making the purchase oflong-term care insurance. Isn’t it better to be secure then falling into

Why should one invest in long-termcare insurance?

Do I really need long-term care insurance ? I am perfectly healthy! Are the first thoughts which arise in every person's mind before making the investment towards something which is long term. Now firstly let's understand what is a long-term care insurance ? It is an insurance product which helps in paying off the cost of long-term care. Long-term comes into picture when a person needs assistance for performing of day to day tasks due to chronic illness, injury, disability or aging process. Any person at any point of time at their life may require long-term care due to chronic illness or injury. Hence it is a sensible decision to invest on long-term insurance, so as to avoid oneself from long overflowing medical bills. Let's dig deep as to why should one invest in long-term care insurance? 10 reasons as why such an investment a wise one 1.    Health insurances are not enough: The healthcare insurance or medical insurance one avails does n