Long-Term Care Insurance, Prepare for the Unthinkable

It would be a wonderful world if nothing changed and everything remained the same. We would not age, die or need medical care in any way. However, the sad truth is that the world is a dynamic and ever-changing place, where nothing remains the same. We may hope that things will remain the same, but they never will, and it is up to us to prepare ourselves for the possible future outcomes that can be difficult to envision. One such way to prepare is through the purchase of long-term care insurance, which can be your best bet for a financially stable life when long-term care becomes an issue for yourself, or a loved one.


Long-term care can happen to anyone, either through old age or an accident. Few would have ever thought that the man who played Superman in four movies would ever need long-term care. He was an excellent example of a fit and healthy human being, but at the age of only 42 he fell off of a horse and was paralyzed from the neck down. For the next nine years he required long-term care. So, you see, the unthinkable can happen to anyone, at anytime, anywhere.

With long-term care insurance, you are preparing for the unthinkable by taking your own future in your hands and ensuring your financial stability, as well as the financial stability of those around you. Studies have shown that long-term care costs for individuals are often paid by immediate family. So, when you fail to plan for the future with long-term care insurance, you are not only jeopardizing your own financial stability, but that of your family.

Long-term care insurance is the best option an individual has for planning their future. The future may be one of vacationing, traveling and enjoying life in retirement, or it may be one of long-term care due to problems relating to health and disabilities. Either way, there is no harm to preparing for long-term care scenarios should they happen. When you buy a sports car, you are not planning on crashing it, but you get insurance nonetheless. You are not planning on being sick in your old age, but it can happen so you should prepare for it with long-term care insurance.

Conclusion:
Long-term care is a sad reality of growing old. As we get older, the need for long-term care becomes greater and greater, eventually encompassing our entire lives. In this scenario, you want to make sure yourself, and your children, will not be financially burdened by your long-term care needs. With long-term care insurance, those financial needs are taken care of, leaving your children, and yourself, financially secure through some difficult times. Don't leave anything to chance. Take the steps to make your long-term future secure in the case of long-term care needs. Long-term care insurance is your best defense against a destitute and financially-trying retirement. Chance favors the prepared, so don't leave long-term care to chance. The small price is well worth the huge benefits it can reap.

You should just ask for help from an insurance representative who specializes in long term care insurance to answer any questions.

When Should I Consider Long Term Care Insurance?

Long-term care insurance is a very important part of ensuring you have a future that does not leave your family struggling to pay your bills at the nursing home. Getting that insurance means you are taking the initiative and thinking ahead, which is an excellent quality in an individual. However, many potential long-term insurance individuals do not always know when they should consider getting long-term care insurance. So, when should you think about making the commitment?

If you know when you are going to need to make a long-term care insurance claim, then do it a month beforehand. Of course, there is really no way of knowing when you will need long-term care claims because you don't know when you will be diagnosed with a disease, suffer an injury or simply need help with day-to-day activities.

In reality, you can get the insurance policy at any time in your life because all it takes is one unexpected accident to change everything about your life and require you to need long-term care insurance. No one thought Christopher Reeve, aka Superman, would need long-term care insurance, but he did and his story is an example of the unexpected nature of life.

Often, people will see long-term care insurance as something for the elderly, but the truth is that 40 percent of those who are receiving long-term care are below the age of 65.

So, to answer the question, you should look at getting into the long-term care insurance program when you can comfortably afford to pay the premium and you have enough income and assets to protect to justify the cost of the policy. As well, if you get the premiums early in life, you will pay a lot less than you will at an older age. That in itself can be an excellent reason to join the program early, rather than later.

Long-term care is not covered by medical health insurance, so you need to make sure you protect your assets in the case of accident, and the best way to do that is through a long-term care insurance plan. Nothing is set in stone and making sure you are covering your bases ensures you will not be left hanging when things take a turn for the worst. Anything can happen.

Conclusion There is often the question of when to spend the money on a long-term care insurance policy, and all to often people will think that long-term care is only for the elderly. However, as has been stated, anyone can suffer the effects of a disability that requires them to need daily care, but with out the coverage, their family ends up paying the bills. As a result, you need to make sure you get the long-term care insurance policy as soon as you are able to afford it and when you have enough to protect. At this point, you will be in the best situation to pay low premiums, yet get the security and peace of mind that comes from being a part of the long-term care insurance program.

You should just ask for help from an insurance representative who specializes in long term care insurance to answer any questions.

Save Money on Auto Insurance

I'm doing a 2 part series on how you can save money on your insurance. In this part I'm going to talk about ways in which you can save some money on your car insurance.

Do you wish you could squeeze extra savings from your budget--without making any big sacrifices? Here's an idea you may not have thought of: Slash the premiums you pay to insure your home. Rates have risen so sharply in recent years that it may seem impossible to cut these back. But there are many ways.

YOUR AUTO INSURANCE
Consider canceling collision insurance (for damage) and comprehensive insurance (for theft) if your car is older. Your insurer will never pay more than the vehicle's current resale value, which may be low for a car that's been around. Ask your agent what you're paying for collision and "comp" and compare it with what your car is worth right now. You can find out by checking the Kelley Blue Book site (kbb.com).

Cancel the coverage if it's costing you more than the insurer would pay to repair or replace your car.

Raise the deductible That's the amount you pay out-of-pocket before your collision or comprehensive riders kick in. The cost of those riders drops as much as 25 percent if you agree to pick up the first $1,000 in claims rather than just the first $500. Accept a $2,500 deductible and your savings could reach 40 percent. You shouldn't be filing $500 claims, anyway--insurers don't like clients who turn to them for every little thing. They'll raise your rates and may even cancel your coverage. Unfair? Absolutely, but that's the fact.

Get several rate quotes before you buy or renew a policy. Average premiums are actually expected to drop 0.5 percent this year. Some insurers are cutting prices more--as much as 6 to 12 percent. To find a lower-cost policy, start with the Web (for helpful sites, see the list at left). Once you have prices, call an independent agent--one who represents several companies--to see if he or she can beat the quotes.

Take advantage of every discount insurers offer. They're usually available to people who drive less often than average (fewer than about 12,000 miles a year), older drivers (typically 55+), graduates of driver-training or defensive-driving courses, students with good grades (B-average or better), and owners of cars with safety features such as anti lock brakes. Geico often lowers rates up to 15 percent for active and retired military members. You may also get a discount if the same company insures your car and house (though you'll save only if the company is low cost to begin with).

Drive safely and keep a good credit rating. Speeding tickets, fender benders, and failing to pay your credit card bills will raise your rates. (Poor-credit risks are poor-driving risks, insurers say.)

Tell your insurance agent if your teen moves out or goes away to school. You'll pay less if he is no longer driving your car regularly.

Switch to a safer car Insurers charge less for autos that perform better in crash tests than comparable, riskier models. For crash-test ratings, see www.iihs.org and safercar.gov.

Don't scrimp on liability coverage This is the coverage that kicks in if you injure someone in an automobile accident. The state requires that you buy a certain minimum amount, but that's never enough for people with assets to protect. The policy should be large enough to cover the value of your home, your investments, and some of your future earning power, so a big court judgment wouldn't end up crippling you for life.

Please keep an eye out for my next post on my how you can save money on your Homeowner's insurance.

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You must have Life Insurance !!

One thing none of us want to think about is our own deaths. Beyond the fact that we’d no longer be able to experience life, we can also leave our families with huge obligations. From loans, mortgages to more complex expenses that our passing would force our families and loved ones to cope with; doesn’t it make sense to have protection?

Even if you have credit cards and mortgages to think of , For most people life insurance makes a lot of sense that said the most important question after that is how much does a person need. In order to establish this you would need to first work out the total impact financially of a person dying would actually have on the family or business relationships that they may have.

Other than the need to cover funeral expenses most people do contribute greatly to the overall family expenses whether it is a bread winner providing the money to buy the food and heat the house or the person that stays at home providing the labor for the housework and looking after the family such as cooking etc. All this needs to be replaced in one way or another such as employing a nanny or a housekeeper. All this has an impact on the families’ budget in the event of death.

Life insurance is a protection against unforeseen events. None of us plan on passing on, yet random occurrences happen every day. Because these events can happen and people are counting on you, both for emotional support and for what you can bring to any sort of commitment; it’s important to make sure that they will be protected against anything that could happen to you.

In today’s world, chaos and unpredictability abound, in ever more chaotic situations, stability is paramount, and life insurance can provide that stability even after - especially after - an unforeseen passing. Life insurance can save you money as well, by covering expenses related to the funeral itself - often in excess of 7,000 - you can use that money for investing or for recreation. And if you don’t have that money?

That’s an even better reason to have life insurance. Having to produce the 7,000 for a funeral, in addition to other liabilities might be passed on is a huge burden that can force loved ones out of their home and cause horrific amounts of chaos.

Property, the estate of those who die, can be heavily taxed, as much as 55% and is worth reading about inheritance tax. But life insurance can alleviate further problems and stop your inheritors losing out to taxes.

None of us want to pass on and as traumatic as our passing might be, responsible planning can prevent our friends, family and loved ones from going through financial grief at our passing. We won’t always be around to protect them, but we can allow them to get on with their lives without paying our liabilities.

The cost of life insurance is low; the cost of not having life insurance is astronomical.

I recommend Term Life Insurance. You can read more about it in my post I need Life Insurance! Ok, but what kind ?


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I need Life Insurance! Ok, but what kind ?

What is Life Insurance ?
Life insurance or life assurance is a contract between the policy owner and the insurer, where the insurer agrees to pay a sum of money upon the occurrence of the insured individual's or individuals' death. In return, the policy owner (or policy payer) agrees to pay a stipulated amount called a premium at regular intervals or in lump sums.

As with most insurance policies, life insurance is a contract between the insurer and the policy owner (policyholder) whereby a benefit is paid to the designated Beneficiary (or Beneficiaries) if an insured event occurs which is covered by the policy. To be a life policy the insured event must be based upon life (or lives) of the people named in the policy.
Insured events that may be covered include:

• death
• accidental death
• Sickness

Life policies are legal contracts and the terms of the contract describe the limitations of the insured events.

Below are the types most common types of Life insurance sold these days. The last one is my favorite and thats the one I have in place.



Whole Life Insurance
Whole life insurance provides permanent protection for your dependents while building a cash value account. With this type of insurance, the insurance company manages the policies various accounts.
What it does
It pays a death benefit to the beneficiary you name and offers you a low risk cash value account and tax-deferred cash accumulation. It provides a fixed premium which can't increase during your lifetime as long as you continue to pay the planned amount. It allows the insurance company to exclusively manage the cash value account in your policy. It provides you the option to receive dividends from your policy or apply them to reduce payments. It offers you the right to withdraw from the policy during your lifetime.
What it doesn't do
It doesn't offer the account flexibility to invest in separate accounts such as money market, stock, and bond funds. It doesn't allow you the account flexibility to split your money among different accounts or to move your money between accounts. It doesn't offer premium flexibility. It doesn't offer face amount flexibility.

Variable Life Insurance
Variable life insurance provides permanent protection for you and is the type of life insurance with account flexibility for the more risk-oriented policy holder.
What it does
It pays a death benefit to the beneficiary you name and offers you low-risk, tax-free cash accumulation. It allows the death benefit to vary in relation to the fund returns of the cash value account. It allows you to borrow from the policy during your lifetime.
What it doesn't do
It offers no guarantee to the amount of cash value during your lifetime. It doesn't offer you premium flexibility. It doesn't offer you face amount flexibility.

Universal Life Insurance
Universal life insurance provides permanent protection for your dependents and is more flexible than whole or variable life.
What it does
It pays a death benefit to the beneficiary you name and offers you a low risk cash value account and tax deferred accumulation. It allows you to earn market rates of interest on your cash value account. It offers the right to borrow or withdraw from the policy during your lifetime. It allows you premium flexibility. It offers face amount flexibility.
What it doesn't do
It doesn't offer you the account flexibility to invest in separate accounts such as money market, stock, and bond funds. It doesn't allow you the account flexibility to split your money among different accounts or to move your money between accounts.

*Term Life Insurance

Term life insurance is the simplest and least expensive type of policy. It's pure insurance with no cash value account. A term life policy has only one function: to pay a specific lump sum to whoever you've designated, upon a specific event - - your death. The death benefit and the policy limit are the same - - a $200,000 policy pays a $200,000 death benefit. The policy protects your family by providing money they can invest to replace your salary, as well as to cover final expenses incurred by your death.

There is no doubt in my mind that in this economic era, Term Life Insurance is the best option for me and my family. Just as they say that "You should not mix business with Pleasure", I say, "You should not mix Insurance and Investments". Thats what other financial gurus like Dave Ramsey and Suze Orman also say.

What do you say ?


Related Posts
Need Health Insurance ? Get Free Quotes Online
Save Money on Homeowner's Insurance
Save Money on Auto Insurance


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Low Cost Health Insurance: Should I ?

To protect and preserve one's health, low cost health insurance is needed. Due to the increasing costs of doctor's professional fees and hospital charges, there should be low cost health insurance available to everyone. US government statistics show that more than 40 million Americans do not have low cost health insurance. Health care prices are rapidly and continuously going up and many people cannot even afford basic health care insurance.

Low cost health insurance are programs that offers health insurance policies at a much lower price. Students, the unemployed and low-income families are the best candidates for such low cost health insurance. These people can choose from a list of low cost health insurance policies that offer coverage at a minimal price. These low cost health insurances offer low premiums compared to the other health insurance programs out there. In some of these plans, the employer pays part of the premium. It is important that, although not expensive, the plan should fit the individual's needs. The low cost health insurance plan should also offer protection against major illnesses such as cancer and diabetes.


The disadvantage of low cost health insurance is that, because of the lower premium, there are also less benefits. The low cost health insurance typically offers basic coverage such as paying the cost of hospital, surgical, and physician bills. Operating room, diagnostic procedures, anesthesia, and laboratory expenses are usually covered also. However, individuals with low cost health insurance get very few of the great benefits that are offered by other health insurance programs such as surgical expenses including the assistant surgeon's professional fee, ambulance service, blood transfusions, oxygen, prescription medications, and even prosthetic devices.



Student health insurance is a type of low cost health insurance, which offers insurance to full time college students between the ages of 17 to 19. The undergraduate students must be enrolled in at least nine credits to quailfy for this type of insurance. Graduate students may also apply for this type of low cost health insurance program. These students should be enrolled in a college or university that is recognized and accredited by the state. Universities and colleges usually offer this type of student low cost health insurance so if college bound, check the coverage being offered because each university's insurance policy is different. Other low cost health insurance providers can provide student health insurance also.


The most important advantage of this low cost health insurance program is the cost. A low premium is offered. It is also recognized even if the student transfers to another university or college. The standard college student health insurance program is a low cost health insurance policy that costs less but has fewer benefits. Independent individual policies cost more but offer much better coverage.


Related Posts:
I need Life Insurance! Ok, but what kind ?
Need Health Insurance ? Get Free Quotes Online
Save Money on Homeowner's Insurance
Save Money on Auto Insurance

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Need Health Insurance ? Get Free Quotes Online

In this day and age, it is wise to safeguard your future. You never know what will happen to you even in the next few minutes. You might bump into a car and be disabled. Or discover that the reason why you have been feeling extremely thirsty and you have been urinating quite frequently is because of diabetes. Or that the weight loss you noticed in the past months is actually symptom of the early stages of cancer. No one wants to get sick but it may happen. It is best that when a disease or illness does strike, you are prepared for it. Companies that offer free health insurance quotes are out there to find and will get you on the road to choosing a good health insurance.

Free health insurance quotes makes it easy to choose from plans and policies that will best suit your needs. Admit it, you may be earning money right now, money that is probably enough for your household needs plus a little extra but imagine if you get sick and suddenly you need to be confined in a hospital and the doctor orders numerous diagnostic tests and laboratory procedures that cost an arm and leg? Add to that the steep price of most prescription drugs. As you recover and go home but the expenses may not end there. You will probably be given expensive medications and you will be instructed to follow up on a regular basis and undergo examinations every now and then. How will you able to afford all these while maintaining the quality of life for your family? You really should start paying attention to all free health insurance quote right about now.




In browsing free health insurance quotes offered, it is important to know beforehand what you are looking for. You should consider when looking at a free health insurance quote what are you and your family needs. The length of time required to pay the plan is also an important consideration in free health insurance quote. Some health insurances offer several years of payment, some even extending until the day the insured dies.

Free health insurance quotes should also include the mode of payment offered by the company so you will know if you can pay the plan being offered. You should also find out if the free health insurance quote you are seriously considering would allow you to choose your own doctors and hospital or be restricted to only their network of health care professionals.

There are also free health insurance quotes that offer group health insurance. These are different from individual health insurance quotes in the sense that they offer insurance for the group rather than individual, so they are not customized and everyone enrolled in the group gets the same benefits. This type of free health insurance quote is normally less expensive and does not require extensive screening. Individual free health insurance quotes usually states that an applicant will undergo extensive medical screening. Should you pick this type of free health insurance quote, the company will want a detailed medical background check, focusing on the past diseases that you may or may not have.

Since the quotes are free of charge, relax, take your time and find the best health insurance for you!

Suze Orman (has a show on CNBC), suggests the following websites for free insurance quotes:

Select Quote
(800) 343-1985
www.selectquote.com

InsuranceQuoteService
(800) 972-1104
www.iquote.com

Term-Quote
(800) 444-8376
www.termquote.com

Master Quote
(800) 337-5433
www.masterquote.com

LifeRates of America
(800) 457-2837

Quotesmith
(800) 556-9393
www.quotesmith.com

InsWeb
(800) 871-5075
www.insweb.com

AccuQuote
(800) 442-9899
www.accuquote.com

DirectQuote
(800) 845-3853
www.directquote.com


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Save Money on Homeowner's Insurance

This is my second post on the series on ways to save money on insurance. My first post was about ways in which you can save money on Auto insurance. This one deals with Home owner's insurance. I have recently bought a house so this one "really hits close to home", if you know what I mean :) GoodHouseKeeping.com had these easy ways.

Shop around While automobile insurance rates are expected to go down this year, homeowner policies will likely go up (by about 4 percent). So it pays to hunt for the best price. The same Web sites that quote car insurance or van insurance rates will also give you the cost of homeowners' coverage.

Ask about discounts Many insurers cut rates by about 5 percent if the homeowner has burglar alarms, smoke detectors, or dead bolt locks. Some give breaks to older people and to families in which no one smokes.

Don't over insure If you bought enough coverage to equal the price you paid for the house, you may have too much insurance. That's because your purchase price included the cost of the land, but even if your house burns down, you don't need to buy the land again. So shrink your policy to the right amount: what it would cost to rebuild your home. You can also cut costs by dropping coverage you bought for jewelry or other valuables that have decreased in value.

But don't under insure Building costs have soared in the past few years. If you haven't increased the size of your policy, you may not be able to replace your house if you're hit by a tragic fire, hurricane, or flood. Ask your agent how much coverage you need today. To hold down your cost, increase the deductible. If you offer to pay up to $1,000 out-of-pocket for a claim, instead of $250, you can save as much as 24 percent.

Choose your next home wisely It is lovely to live near the ocean, but that's where insurance costs the most. In hurricane zones, average premiums will soar 20 to 100 percent this year, reports the Insurance Information Institute. And it's going to get worse. Many insurers aren't renewing policies for homes on the coasts. Florida now has "insurance refugees"--people who can't afford coastal coverage and are moving inland to higher ground. No question about it: Ocean views are going to carry a heavy price.

Want the Best Deal? Price-Shop Online
Use all or some of these Web sites to collect cost information on the kind of auto and homeowners' coverage you want. Then ask an insurance agent to beat the best rate you find.

Price comparison
insweb.com, netquote.com

Major insurers
allstate.com, nationwide.com, statefarm.com, geico.com, progressive.com

Other Related Posts:
Save Money on Auto Insurance


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