The Daily Benefit is the amount of money your long-term care insurance policy can pay for each day that you receive qualified care. The Daily Benefit is the single-most important feature in your long-term care policy. Choose it wisely! The Daily Benefit is sometimes...
Gotcha #1: Some long-term care insurance policies have different ways of determining the Daily Benefit depending upon the setting in which you are receiving care. For example the: Nursing Home Daily Benefit may be $200, Assisted Living Facility Daily Benefit may be...
When all other features in your long-term care insurance policy are the same, a policy with a $240 Daily Benefit is 20% more premium than the exact same policy with a $200 Daily Benefit. ($200 + 20% = $240) But, when making those comparisons, it’s important...
In the old days, in order for the government to pay for someone’s long-term care expenses, they would have to spend down their “countable assets” to the “poverty level” (about $3,000). 43 States Have Passed Landmark Legislation! In...
There are now 10 tax-friendly ways to pay long-term care insurance premiums. Depending on your situation, you could save hundreds (possibly thousands) of dollars in income taxes over several years by applying just one of these methods. Caveat: I’m not a tax...
A few months ago, a couple went to my website and filled out my “Online Quote Request Form”. Several years ago, they had purchased a “discounted association policy” through the wife’s professional association and now they wanted to...