According to the outcome of a study performed by Bankers Life and Casualty Company Center for a Secure Retirement, a startling number of retired individuals in the middle-income bracket who are on Medicare either do not understand or they misunderstand the costs and coverage provided by the program, which can lead to unexpected expenses. The research, whose findings were included in the report entitled “Retirement Healthcare for Middle-Income Americans”, examined data regarding 400 pre-Medicare individuals in the baby boomer generation (aged 47 to 64), as well as 400 adults in…
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John Hancock announces re-entry into individual long-term care insurance in California
John Hancock has announced that it will be resuming its place as a part of the California individual long-term care insurance marketplace, starting on February 27, 2012, through both its Custom Care III (non-Partnership) and its new California Partnership policy. These two policies will provide comprehensive long-term care coverage for all circumstances, such as assisted living facilities, nursing homes, adult day-care centers, and at home, and will also provide the policyholder with care planning and care giving support. The president of John Hancock long-term care insurance, Marianne Harrison, expressed the…
Read MoreChoosing the right long-term care policy to cover your needs
The percentage of people who have purchased life insurance has currently reached a figure that is lower than it has been in half a century, as many people debate whether or not the coverage is worth their money when they are already tightening their belts in an economy that continues to struggle in its recovery. Life insurance differs from standard medical insurance in that it provides coverage for individuals who require assistance with their daily living activities. For example, in the case of a broken shoulder or hip, dementia, or…
Read MoreNew long term care benefit available to Prudential customers
Prudential Insurance has announced that its long term care coverage products will now include a benefit that offers a program providing personalized, high quality guidance to help them to achieve independent living through a single integrated source. This benefit is known as the Univita Living program, which was created by Univita Health, and is built on a foundation of significant knowledge and research from professionals with significant experience in health and long term care. What the program provides is the ability for families and individuals to locate, coordinate, and manage…
Read MoreSurvey shows long-term care services are increasingly expensive
Metlife Mature Market Institute has published a report of the outcomes of its annual long-term care services costs survey, which includes home care, adult day programs, assisted living facilities, and nursing homes. The survey showed that the cost of long-term care services is continuing to climb, and that this year it rose more quickly than the rate of inflation. The only exception to this rule was the cost of home care services, which was the same from last year to this year. The average cost of care in a private…
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