What Are Long-Term Care Partnership Policies?
Long-term care partnership policies are just like traditional long-term care insurance, except there is one additional benefit: A long-term care partnership policy can protect your assets from Medicaid, even if your policy runs out of benefits. With a long-term care...
3 Types of Life Insurance Hybrids That Pays for Long-Term Care
What are the different types of life insurance hybrids? There are hundreds of policies that include some kind of rider that can help pay for “long-term care” expenses. These might be great for life insurance purposes, but they may not be a good way to plan for...
What is a “Recovery Policy”?
Finding out what a recovery policy is requires some background information. In most states, these policies are called “Limited Benefit Convalescent Care.” That’s not an appealing name for an insurance policy. Sometimes, these policies are mislabeled as “short-term...
Part 8: New York Times article on long-term care insurance – Long-term care insurance is risky
New York Times article on long-term care insurance - Long-term care insurance is risky Why would the New York Times article on long-term care insurance say that long-term care insurance is risky when over 95% of the long-term care insurance policies sold today...
Part 7: New York Times article on long-term care insurance – “Yugo is proof the auto industry is in decline!”
New York Times article on long-term care insurance - "Yugo is proof the auto industry is in decline!" Does that make any sense? Of course not. That’s absurd. Yugo’s failure is not a blight on the auto industry. But that’s what the NY Times is implying. They...
Part 6: What the New York Times article on long-term care insurance got VERY wrong!
What the New York Times article on long-term care insurance got VERY wrong! The policyholder who paid $120,000 in premiums did NOT pay $120,000 in premiums. Here’s how I know: A typical policy bought in the early/mid 1990’s had an $80 per day benefit amount....
Part 5: Four things the New York Times article on long-term care insurance got right
Four things the New York Times article on long-term care insurance got right That’s 100% true. Long-term care insurance is NOT for “most people”. At least 50% of retirees do NOT need long-term care insurance because they can qualify for Medicaid-funded long-term...
Part 4: “Savvy Consumers? More half-truths in the New York Times article on long-term care insurance
Savvy Consumers? More half-truths in the New York Times article on long-term care insurance “The private insurance market has proved wildly inadequate in providing financial security for most of the millions of older Americans who might need home health aides,...
Part 3: “Half-right”: Two things the New York Times article on long-term care insurance almost got right.
“Half-right”: Two things the New York Times article on long-term care insurance almost got right The New York Times article on long-term care insurance states: “By 2020, sales of traditional policies had dropped to 49,000 and the number of carriers offering...
Part 2: Three Things the New York Times Long-Term Care Insurance Article Omitted
Three Things the New York Times Long-Term Care Insurance Article Omitted Long-term care insurance policies sold before 1993 were TERRIBLE! Newer LTCi policies have different pricing rules than the older LTCi policies 41 States have affordable long-term care insurance...