How can you tell what is myth and what is truth about Long Term Health Insurance? Do you even need to purchase insurance?
The answers to all of your questions lies in the pages of this buyer's guide. This guide will direct you to the most important coverage and help you avoid the options that are not worth the money.
Gain more than peace of mind! This guide will build confidence in your decision regarding you and your loved one's long term care insurance needs.
What Are Common Consumer Concerns?
It seems everyone is trying to sell long-term care insurance!Insurance
agents, banks, financial planning consultants, associations and even
companies involved in direct sales efforts over the Internet have all
gotten into the act, which is a good indication that there is money to
be made selling this product. The long-term care products are
intentionally marketed using glossy brochures, with so many options that
it makes a fair comparison nearly impossible for the consumer. Consumer
1. Is the insurance company financially stable?
2. What is the likelihood an insurance company will raise rates in the
first three years?
3. How can the buyer force a fair comparison?
4. Which options are the most important?
5. What tricks do insurance companies use to limit access to benefits?
6. Does the insurance make sense for the buyer’s needs and wealth
A common complaint is that insurance companies increase rates three and
four times from the time of purchase! This situation has not changed for
the insurance companies; insurers retain the right to increase rates on
all new policies if raised for all age-classes.
Long-term care insurance is a wise purchase for some but not all
Long-term care insurance is a wise purchase for some butnot all
consumers.However, this insurance product has been a win-win for the
insurance industry! Long-term care insurance products have been sold
since the early 1990s. Many consumers who bought these early policies
were told that purchasing the policies at an early age, well in advance
of retirement, would lock in the rates. Unfortunately, consumers were
not clearly informed that the insurance companies reserved their right
to increase future rates if the insurance company increased the rates
for all their policyholders within the same age-class.
This buyer’s guide will provide answers to the above-mentioned
consumer concerns. The guide will help the buyer to evaluate proposals
using a comparison worksheet that forces a fair comparison.
Excerpted from "Nursing Home Fears: A Buyer's Guide To Long-Term Care Insurance" by Ken R. Butler. Copyright © 2014 by Ken R. Butler. Excerpted by permission. All rights reserved. No part of this excerpt may be reproduced or reprinted without permission in writing from the publisher. Excerpts are provided solely for the personal use of visitors to this web site.