Long Term-Care; 70 Million Americans Will Be Over 65 by 2003
We will all grow old; this is a given. We will all have health issues as we grow older, this also is a given. Many people work their whole lives and if they are smart end up with a paid for house and a little nest egg for retirement. This is a good 15% of the population. Good for us as we have a strong middle-class. But whether you are rich or poor there will come a time when you need long-term care. As a matter of fact statistics show tat 10% of use will need long-term care for 3-5 years.
The problem is that such care costs a good $135.00 per day now, not including any future inflation. So something you should be thinking about is; do you have adequate coverage to protect you life's earnings, home and nest egg in the case you are somewhat incapacitated and need home long-term care? Many financial planners are recommending insurance for this; as a matter of fact currently it is all the rage.
When shopping for such long-term care insurance there are things you need to look for besides your basic costs of premiums and general services. Things such as an inflation rider to protect you; also a non-forfeiture rider should be in the policy. The non-forfeiture rider prevents the insurance company from completely canceling your policy if you miss premiums; instead you will get less services or care, but not loss of all benefits. There are also in some policies provisions for limiting premium increases. Insurers cannot raise an individual's premiums but they are allowed to raise premiums for an entire class or category of folks. You need to make sure this will not happen and look for this in your policy.
Guaranteed Renewability is another provision you need to have; meaning they cannot cancel or refuse to renew your policy as you reach and older age of higher risk.
There are over 100 companies, which offer these types of insurance policies but only about 15 or so are any good. Other companies like some abuses in the Insurance Annuity Business may simply collect lots of premiums and then go out of business in the future, leaving you high and dry after taking your premiums. Please be careful and think about this.
"Lance Winslow" - If you have innovative thoughts and unique perspectives, come think with Lance; www.WorldThinkTank.net/wttbbs
MORE RESOURCES:
 |
|
|
RELATED ARTICLES
Stair Lifts - Straight and Curved Rails
There are two types of stairlift. Straight and curved.
Local Businesses Serving Seniors Prove Commitment to Quality Care
Good news! You no longer have to risk chance when it comes to selecting a reputable elder care service for yourself or for a loved one. Senior Approved Services has certified a select number of businesses in our area serving the elderly and disabled populations.
Solitary Confinement -- for Life
Sixty-five year old Arthur Jones served a self-imposed life sentence - in his own home.Arthur lived in a high crime neighborhood, so he built iron cages around his outside doors and installed bars on all the windows.
Exercise Walking For Seniors: Preventing Foot Problems
Exercise has a very important role in the general health and
the quality of life of everyone, but especially in seniors.
Seniors who walk tend to look younger, sleep more soundly
and have fewer visits to the doctor.
Caring for Aging Relatives
It happens somewhat slowly in the beginning, maybe with a small cough that gets worse as time goes on. It might simply begin with absent mindedness which is totally out of character, followed by total memory lapses.
The Dryer Ate Your Underwear!
Q: My mom is in the early stages of dementia and she is also incontinent we have tried to get her to stop wearing her underpants and have her start wearing pull-up diapers, she throws the Depends out the door and puts her underpants on. Of coarse we have a lot of laundry! How should I handle this?A: This one should be fairly easy to solve.
What Most Long Term Care Professionals Don't Know
Medicare recognizes this need and, therefore reimburses your residents to receive advanced behavioral health services? making them free to your facility!Psychologists provide a wide variety of valuable and tested
clinical services that can provide a big shot in the arm to your
nursing home care. For example:1.
Stairlifts - Take the Struggle Out of Climbing the Stairs
Buying a stairlift can have huge benefits for your quality of life, giving you back some freedom and independence. Stairlifts can be adapted to your individual needs, so no matter what your requirements are, there'll be one to suit you.
The Right Wheelchair Accessories Will Ease Your Life and Your Journeys on Wheels
Wheelchairs come in every shape and size with sufficient options that you can find the wheels you like to take you where you want to go with the assistance you need. To enhance the comfort and convenience of your journey, choose accessories tailored to provide the best support for your activities and your health concerns.
Assisted Living: Tips on How to Choose a Facility
It is easy to be fooled by fancy drapery or expensive furniture that may decorate a care facility. Even though a facility looks high class doesn't always mean the care provided is first class.
When Assistance with Long Term Care Becomes Necessary
According to the Administration on Aging, it is estimated by 2030, the older population will more than double to approximately 71.5 million.
When the Box is Empty
The King had a modest kingdom. He was Danish.
Respiratory Help Is Available For Seniors With COPD
As HMOs Continue to Drop Coverage for Seniors - Now Over 500,000 Victims - Those Needing Expensive Respiratory Medication, Support and Homecare Services are the Hardest HitOne Patient Advocate, Geriatric Services of America, is Providing Relief to Victimized Patients Through a Unique, Often No-Cost ProgramMore than 536,000 US senior citizens are scrambling to find new doctors or new coverage because their health plans terminated their Medicare managed-care services, according to a Nonrenewal Report issued by the Centers for Medicare & Medicaid Services for the year 2002. Among the hardest hit are seniors in California (84,000), Florida (59,000), Pennsylvania (55,000), New Jersey (53,000), Texas (46,000), and Michigan (31,000), who will be losing coverage in the coming year.
10 Tips to Keep a Family Caregiver from Losing Their Mind
Caring full time for a loved one can be a challenging task, and it takes a special person to get the job done right. Patience and compassion are the two top qualities a caregiver must possess in order to be successful.
Paying For Elder Care Just Got Easier
It's not a surprise that thousands of families across the nation are facing the challlenges of an aging population. The "sandwich" generation, those who are caring for their children as well as their parents, have been feeling the financial pinch of caring for loved ones.
Helping Caregivers Get Comfortable Asking For Help
Becoming a care giver might not have been a conscious decision on your part. It may have arrived quietly and unnoticed because you are the adult child of your elderly parents who now require care or you may have a special needs child that exacts your constant attention or a friend or spouse has become very ill and needs your support.
Who Wants to End Up in a Nursing Home? NO ONE!
As a long-term care consultant for seniors and their families I have visited many different types of facilities. But my favorite type of facility to visit is adult family homes.
Senior Care for Alzheimer's
As a person ages, a certain amount of memory loss and confusion is quite normal. Personally, I've been known to invoke the cliché, "The older I get, the better I was!" Unfortunately, Alzheimer's disease represents a more serious loss of mental sharpness and calls for special care for seniors.
Short Trips Can Stimulate Alzheimers Patients
Severe degradation of short-term memory means that my father, an Alzheimer's elder, is seldom interested in movies or books. And, although music used to be a source of enjoyment, he no longer listens with pleasure.
Hinged Rail Stair Lifts
If a door at the top or the bottom of the stairs may be blocked by the rail of the stairlift, there are a number of models designed to overcome this problem. Some manufacturers are able to produce a rail with reduced overhang upstairs, so the lift will not protrude as far into the hallway.
|