The Long Term Care (LTC) Blog
Inexpensive Insurance That Pays For Care in Your Own Home
Home care insurance that almost anyone can get. You’ve surely heard how expensive and difficult to get long-term care insurance can be. Now we have something new. It pays for care in your own home (where you want to be anyway). It has only one health question – if your family were to all go…
Read MoreWill You Burden Your Children to Pay for Your Funeral?
Nobody intends to leave their funeral bill for their children, you probably have some life insurance and you certainly have money that can pay this bill. The problem is that things change and are often out of your control. Your health changes and suddenly you find yourself needing money to pay for long-term care, lots…
Read MoreCome hear Romeo Speak at the Oshkosh Senior Expo October 9th
At the Oshkosh Senior Expo come hear Rome Speak detailing strategies for any long-term care situation. It does not matter if you are healthy, or already receiving care. You may be quite wealthy, or poor as a church mouse. There are strategies for every situation to help with Long-Term Care. They range from protecting what…
Read MoreDon’t get Burned By These 5 Common Mistakes in Long-Term Care Planning
When should the spouse at home sell the house? Let’s say the at-home spouse does not want the too-big, ailing, inconveniently located, etc. house after the other spouse enters a LTC facility. Assume they may be spending down to Medicaid impoverishment. The home is an exempt asset for the at-home spouse. If sold BEFORE the…
Read MoreWhen A Loved One Needs Care
Sometimes you know the time is approaching, and other times the hospital calls and says discharge is tomorrow and they cannot return home by themselves. Scary business. No matter how much time you have to prepare and choose a provider for home care or facility care, it is going to be expensive. Most people run…
Read MoreAre You Wondering About Your Current Long-Term Care Insurance Policy?
What exactly does my Long-Term Care insurance policy cover? Is the benefit still the same or has it grown to keep up with increasing costs? Does it cover home care, or assisted living, or nursing homes, or all three? Did the price increase? Can I lower or shorten my benefits? Which is better? At TheLongTermCareGuy.com…
Read MoreI Don’t Need Long-Term Care Insurance
I have retirement income of $5000/month, my house is paid for, no loans due, and I have $600,000 in savings earning 5% interest (you wish). I don’t need any Long-Term Care (LTC) insurance! Let’s assume you are correct. And let’s assume that one of you has a stroke or dementia that requires care in…
Read MoreGo Broke without Long-Term Care Insurance
Bob and Tom are twin brothers. They have done well in life and saved for retirement in an IRA. They each have $1,000,000, they are both married, and are now age 80. Oh, and Tom bought long-term care insurance at age 60, a benefit of $60/day for 10 years including 5% compound inflation on that…
Read MoreAs America Ages, Long-Term Care Costs Could Overwhelm Most Families
The number of Americans age 65 and older is on track to double — from 46 million now to over 98 million in 2060, when today’s 20-somethings will be turning 65. At that time the 65-plus age group’s share of the population will have jumped to 24-percent from 15-percent today. One in four of us…
Read More