Blog Archives

I Just Got a Rate Increase on my Long Term Care Insurance Policy (Part 3)

            Last week I was reviewing with you Jim’s dilemma.  He received a notice of a rate increase frin his long term care insurance company.             I went through with you the options outlined in that letter.  For some people in Jim’s situation Option B may be the way to go, redesigning their policy.  For […]

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I Just Got a Rate Increase on my Long Term Care Insurance Policy (Part 2)

            Last week I was telling you about a call we get with increasing frequency.  Jim received a letter notifying him of a rate increase of 60% on his long term care insurance premium.  He wanted to know what he should do.             The letter explained that the increase is not based on a change […]

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I Just Got a Rate Increase on my Long Term Care Insurance Policy

            It’s a call we are getting with increasing frequency.  Jim just received a letter from his long term care insurance company that they are increasing his premium by a whopping 60%.  If that’s not bad enough, the letter warns that he should expect further increases in future years.             Jim is 71 years old […]

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Why Won’t the Government Cover My Care?

            It’s a comment we get frequently when someone calls our office just after getting sticker shock at the cost of their loved one’s long term care. Some get angry upon hearing that, if they have assets but no long term care insurance coverage, they’ll need to use their own funds to pay for care. […]

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How to Self Insure for Long Term Care (Part 2)

            Last week I was telling you about using your own money, what we call legacy assets, to self-insure for long term care.  This week I’ll walk you through an example of how that can work.             Mary is 73 years old.  She has high blood pressure, for which she takes medication but otherwise is […]

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How to Self-Insure for Long Term Care (Part 1)

            It seems that every year we receive more calls from our clients who have long term care insurance but are struggling with the decision about whether to keep it in the face of rising premiums.  The story I wrote about the past two weeks is an example of someone who reduced his coverage with […]

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Do You Know What’s in Your Long Term Care Insurance Policy? (Part 2)

            Last week we were talking about Bob and his dad, Jim.  Jim had always told Bob that he had long term care insurance to cover the cost of his care.  However, now Bob was discovering that the policy isn’t what Jim represented it to be.             As I explained last week, Bob learned that […]

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Do You Know What’s in Your Long Term Care Insurance Policy? (Part 1)

      Bob’s dad, Jim can no longer stay in his home alone. His dementia is advancing and Bob is now ready to move Jim to an assisted living facility. Jim had always told Bob not to worry about how to pay for care if he needs it because he has a long term care insurance […]

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Some Long Term Care Insurance Options You Probably Never Heard Of

                Jim and Judy called because they wanted to make some changes to their wills.   In their late 70’s but still pretty healthy, they have a son who is struggling financially with 2 children in college and another with special needs.   They wanted to provide for their grandchildren and also wished to make some other […]

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Little Known Law May Help Seniors Needing Long Term Care

                On August 17, 2006, President George W. Bush signed into law the Pension Protection Act of 2006.  The average American probably never heard of the law but some provisions in that law, which became effective in 2010, can be a real boon to Americans struggling to find ways to pay for long term care. […]

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