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Archive for the ‘Long Term Care’ Category

Long-Term Care Policies Ditch Solo Role For Supporting Act

Thursday, August 22nd, 2013

Insurance News Net reports:

“The stand-alone long-term care insurance market may be dormant as buyers shy away from high premiums and the relative inefficiency of long-term care coverage, but the combination insurance product market is hot.

Combination products, otherwise known as hybrid insurance, pair long-term care coverage with an annuity or life insurance. In return for one or more premium payments at retirement, a life care annuity pays fixed, periodic payments. In the event of a disability, the coverage provides additional payment to help cover the costs associated with long-term care.

(more…)

Don’t Grow Old Without It

Monday, April 9th, 2012

The WSJ reports:

“Long-term-care insurance: It can make the difference between living out your life the way you want and becoming a burden to your family or a ward of the state.

But it is becoming significantly more expensive, more complicated and harder to get with each passing year.

Average premiums on new policies—which help pay for nursing-home, assisted-living and home care—have risen some 6% to 17% in the past year alone, according to the American Association for Long-Term Care Insurance, a trade group. Some insurers have even doubled their premiums on existing policies. The increases come as the industry grapples with low interest rates and policyholders who are living a lot longer than the actuaries said they would.

(more…)

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