One of the top stories in the elder law community of late has been the rising cost of long term care. This is a very complex matter because the playing field is changing as the costs are rising, and there are no easy answers. Let's start by recapping the costs associated with long term care, which we have touched on previously in this space. According to a MetLife market survey, in 2010 the national average charge for a day in a private room in a nursing home was $229; this factors out to … [Read more...] about Long Term Care Insurance Can Be The Solution
Insurance
Term vs. Whole Life Insurance. Which One is Best for You?
Everyone knows the value of life insurance and what can happen if you don't have it. A spouse dies, leaving the other spouse with little or no income and no resources. Dreams of staying in your home or sending the kids to college may go by the wayside. Everything caves in on itself. So you need it, but committing to buying it is something else. First off, life insurance is an important part of your financial plan. If you are married or have kids, buying life insurance is a no brainer. There … [Read more...] about Term vs. Whole Life Insurance. Which One is Best for You?
The Long and Short of Disability Insurance
One of people's greatest fears is that they will get sick or injured, can't work for a long time, get in debt, and then lose their savings and their house, basically losing their independence and dignity. Sounds grim, and it is. If you have enough money in savings or investments that you could weather up to five years of unemployment, stop reading here. For the rest of you, disability insurance might be the answer. But do you need short-term disability or long-term disability, or both? … [Read more...] about The Long and Short of Disability Insurance
Should Young People Buy Long Term Care Insurance?
A well known financial personality often talks about long term care insurance on his radio program. When people call in and ask when should they start buying LTC insurance, he says at about age 60. That may make perfect sense, because at age 60, you might be pretty healthy and can still qualify for long term care insurance, and your annual premium (for now at least) would be fairly affordable. But there are 1 in 2 odds that someday you will need long term care insurance, and you are not … [Read more...] about Should Young People Buy Long Term Care Insurance?
Did Your Loved One Have Life Insurance?
When a loved one passes away, we’re often left with the task of sorting through mail and files to locate the important papers. But what happens if you can’t find everything you’re looking for? If you suspect that your loved one had a life insurance policy or an annuity but can’t find the documentation, you may have a difficult task ahead of you. Finding an outstanding life insurance policy isn’t simple because unlike a pension, there is no place where these policies are registered so that … [Read more...] about Did Your Loved One Have Life Insurance?
