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Long term care insurance buying tips and tricks

August 25, 2012August 26, 2012 Julie Campbell

Acting Commissioner Ken Kobylowski has released advice for consumers to follow. In a news release from the New Jersey Department of Banking and Insurance, Acting Commissioner Ken Kobylowsky has provided a list of long term care insurance shopping tips to help consumers to make more informed and appropriate decisions regarding their own coverage needs. According to the HHS, 21 million people over 65 years old will need these services in their lifetimes. The United States Department of Health and Human Services (HHS) has reported that their data indicates that over…

Decrease your risk of needing to use long term care insurance

July 14, 2012 H. Cutner

Though coverage remains important, it is still better not to have to make a claim. Long term care is a vital coverage for many people to have in case they should ever be injured or become ill, requiring medical services and assistance that would otherwise be financially burdensome or crippling, but it doesn’t mean that you’ll want to make a claim just because you’re covered. As much as it is a good protection to have, it is still best to take care not to have to use it. For one…

The gap in long term care insurance is widening as Baby Boomers age

July 8, 2012April 30, 2013

As the largest generation heads for retirement what coverage do they have? Long term care insurance is currently facing a notable gap in the coverage that it is providing, and as a growing number of Baby Boomers begin to rely on it, that gap is increasing at an alarming rate. The problem is that almost three quarters of all Americans over the age of 65 will need this service. The National Clearinghouse for Long Term Care Information’s data has shown that nearly three in every four Americans past that age…

Younger consumers are buying – and benefitting from – long term care coverage

April 28, 2012May 26, 2012 Julie Campbell

Linked long term care coverage is starting to appeal to a younger audience due to claims with large payouts. In order to maintain coverage against the high costs of long term care, a growing number of national insurers are now offering a combination product that includes life insurance with the option for LTC benefits. This information was drawn from the 2012 Buyer Study, which was performed by the national trade group, the American Association for Long-Term Care Insurance. These products that offer linked benefits (also known as combination policies) are…

Residents of California still aren’t buying into long term care insurance

October 5, 2011May 8, 2013

The results of a survey of the residents of California have just been released, to show that while an increasing number are aware that there is a possibility that they will be required to cover certain long term care costs, such as nursing homes, as they get older, only a small percentage are willing to purchase long term care insurance. The survey showed that when compared with the statistics from 17 years ago (when the survey was first conducted), today’s consumers are twice as likely to say that they are…