News and Views from LTC Connects

Long Term Care Insurance Premium Increases; The Current Risk

Posted by Linda Horowitz on Apr 17, 2014 9:24:00 AM

 

The past is not a predictor of the future.

We have looked at the question of, “what do I do if my long term care insurance premium increases?” in a previous post. Today we will look at the likelihood of increases on newer long term care insurance (LTCI) policies.

The AALTCI issued a press release yesterday detailing the reasons that newer policies will likely not see the rate increases of those purchased prior to the start of the recession in 2007.

Reasons for the optimism that LTCI premiums will be more stable going forward include:

  • Lower interest rates
  • Conservative pricing assumptions
  • Higher scrutiny before rate increases will be granted

Let’s look at each of these in a bit more detail.



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Topics: Long Term Care Insurance, Long Term Care Planning

Is Long Term Care Insurance Tax Deductible?

Posted by Linda Horowitz on Apr 15, 2014 9:42:23 AM

Taxes and Long Term Care

 

We are often asked if long term care insurance is tax deductible. And with tax day upon us, we thought it would be a good time to take a brief look at the tax implications of long term care (LTC) and long term care insurance (LTCI) for individual in 2014.



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Don't Make this Mistake When Planning for Long Term Care

Posted by Linda Horowitz on Apr 11, 2014 9:30:00 AM

Mistake; procrastination and LTC planning (Part 2 of 2)

In our last blog post we discussed our clients, Marie and Ron*, who found themselves in a situation of wanting long term care insurance (LTCI), but having waited too long to apply.



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Topics: Long Term Care Planning

Mistake; Procrastinating When Planning For Long Term Care.

Posted by Linda Horowitz on Apr 9, 2014 5:24:00 PM

Avoid the mistake of waiting until it is too late to apply for long term care insurance (LTCI).

We received a call from Marie*, a client with whom we had spent time counseling last year when she and her husband were planning for long term care (LTC). At the time, Marie and her husband, Ron, had agreed that they needed to address the risk of LTC; they said they just needed some time to think about their course of action.

We kept in touch with Marie every few months, and in January of this year she emailed saying they wanted to apply for coverage. However, they just never found the time to schedule an appointment with us to fill out the paperwork.



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Topics: Long Term Care Planning

Save Money On Long Term Care Insurance

Posted by Linda Horowitz on Apr 4, 2014 2:21:44 PM

Don't purchase a policy until you read this!

It is estimated that at least 70% of people over the age of 65 will need long term care (LTC) at some point. If you have decided to address the risk of long term care (LTC) with LTC insurance (LTCI), it is time to go shopping for a policy.



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Topics: Long Term Care Insurance Policy Design

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