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Long Term Care Costs Keep Increasing

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Tags: baby boomers, Long Term Care, long term care costs, long term care insurance

The cost of long term care continues to climb making it more important than ever that people plan for how they will pay for care when they need it.  Medicare does not pay for long term care. The cost of long term care depends upon where you are living so it is wise to look up the average costs in your area to determine how much financial protection you need.  Long term care insurance is one way to reduce financial risk in retirement.

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Costs of Long Term Care Continue to Rise

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Tags: Long Term Care, long term care costs, long term care insurance

As long term care costs continue to rise the younger generation watches what is happening to their parents and grandparents and say they will plan for the future.  The annual average cost of nursing home care has reached $91,250 and assisted living is $43,200. Costs for care at home are rising more slowly with a home health aide at $20 per hour.  The Genworth Cost of Long Term Care study underscores why it is important to plan for long term care and shop carefully for long term care insurance. Longevity Alliance offers a Consumer's Guide to Long Term Care to assist people with understanding long term care insurance.

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Is This Stopping You From Buying Long Term Care Insurance?

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Tags: long term care costs, long term care insurance, Long-Term Care, long-term care insurance

Is the prospect of never using long term care insurance stopping you from buying.  Then you should consider a return of premium long term care insurance policy.  A leading insurance company offers a plan that will return premiums if you pass away and never use the policy.  Is it right for you?  Compare long term care insurance plans and find out.

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Planning for Caregiving and Long-Term Care

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Tags: aging parents, long term care costs, long term care insurance

Caregiving is stressful, yet we continue to fail to plan for long term care services, according to a new research report. And we are woefully misinformed about who will pay for long term care (hint- generally not Medicare).  In fact, we are more likely to plan for our death than living with long term care needs.  

Talking with your parents, souse and family about long term care should be on the top of the list of anyone over 40.  Exploring long term care insurance can be a good way to get informed about how long term care works and how much it costs. 

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Long Term Care Costs At Home Climb

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Tags: Long Term Care, long term care costs, long term care insurance

Long term care costs at home can be just as much as long term care costs in an assisted living facility.  And the cost of long term care continues to climb according to a new survey.  Long term care insurance can help pay for the costs.  But make sure that you compare several long term care insurance plans before you buy.  Here are three tips for buying long term care insurance.

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Long Term Care Insurance Rates for Men Dropping

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Tags: long term care costs, long term care insurance, long-term care insurance

Long term care insurance rates for men are dropping, while couples will pay slighty more this year compared to last year.  Single women have seen the highest jump in long term care insurance rates this year compared to last year, according to a new report about long term care insurance rates.  It is important for consumers to shop and compare long term care insurance rates since rates and benefits vary widely among insurance companies.  Longevity Alliance Consumer Guide to Long Term Care Insurance provides tips on what to look for in a long term care insurance policy.

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What Does Long Term Care Insurance Pay For?

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Tags: Long Term Care, long term care costs, long term care insurance

How much do long term care services cost?  For the woman who currently has the largest open long term care insurance claim the cost is $1.8 million and still rising.

While this is surely an extreme case, in total, long term care insurance companies paid $6.6 billion in benefits in 2012, according to the American Association for Long Term Care Insurance.  Those are payments that families are using to help support loved ones at home, in assisted living or nursing facilities.

How are people using their long term care insurance policies?  Over two-thirds (86%) of new claims began after 80 years old.  About one in four claims started when the policyholder was age 70 to 79.

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Should You Buy Long Term Care Insurance for Your Parents?

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Tags: aging parents, caregivers, long term care costs, long term care insurance

The impact of long term care costs doesn’t just sit with the person who will need care.  It reverberates throughout the family.  That’s why some adult children find that purchasing long term care insurance for their parent is a smart way to protect their own financial future.

The facts are that 1 in 4 adults will experience adult caregiving duties.  

At Longevity Alliance we often get the question of whether a child can pay for the long term care policy for their parent.  The answer is yes. But it requires some discussion and coordination. 

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Critical Care Insurance for Long Term Care Costs

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Tags: Long Term Care, long term care costs, long term care insurance, Long-Term Care

The rules for eligibility for long term care insurance continue to tighten and at the same time the costs for long term care continue to climb.  That is why some people are turning to critical care insurance as an option to pay future long term care costs.

Critical care insurance is a type of insurance that pays you a cash benefit when you are diagnosed with condition covered by the policy.  You receive the cas benefit directly to spend as you wish.

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New Retirement State: Long Term Care Denial

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Tags: Long Term Care, long term care costs, long term care insurance

There are some things about our future that are just hard to think about but need to be planned for.  Long term care is one of those. Yet most of us are in a state of denial when it comes to our future need for long term care.

In fact, two-thirds of people aged 40 and older say they have done little or no planning for long term care, according to a new study by the AP-NORC Center for Public Affairs Research.

At the same time, this is the generation that knows firsthand the probable need for long term care as they struggle to help parents and friends deal with the need for care and the high price tag that goes with it.

What’s going on?

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