If you could design “perfect” long-term care policy for yourself, what would it look like? I recently asked someone this question and she said: “It should have premiums that are guaranteed to never go up. It should be able to return most, if not...
Long-term care insurance is very flexible. Every long-term care policy gives you many choices for your benefits. You choose your: Daily Benefit, Inflation Benefit, Policy Limit, and Elimination Period. The richer the benefits you choose, the higher your premium....
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...
How much (and when) can long-term care insurance premiums be increased? It depends upon the type of the policy you buy. There are two types of long-term care policies that can never have a rate increase: Single-pay long-term care policies and Limited pay long-term...
Can a long-term care insurance policy pay a relative to care for you? It depends upon the policy. Most long-term care policies are “reimbursement” policies. A “reimbursement” policy will only pay benefits after you’ve received care from...