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Long-Term Disability Insurance Vs. Long-Term Care Insurance : Long Term Care Insurance Network

Long-Term Disability Insurance Vs. Long-Term Care Insurance

By administrator | Aug 14, 2015

Long-Term Disability Insurance Vs. Long-Term Care Insurance
News from Forbes:

By Robert DiGiacomo, Next Avenue Contributor

Insurance is all about planning for the “what if’s,” by protecting yourself and your loved ones, against worst-case scenarios.

As you age, these coverage decisions become more complex — and costly — in order to plan for the possibility that you’ll be unable to work or to take care of yourself (or both) for an extended period of time.

“Just because you’re healthy now doesn’t mean you can’t have something happen to you that’s going to require care,” says Jonas Roeser, co-founder and CEO of AgentReview.net. “That could mean a month and a half of care after a motorcycle accident or regular help with bathing after the age of 80.”

Weighing Disability and Long-Term Care Policies

So, if you’re over 50, which should you be buying: a long-term disability insurance policy or a long-term care polic…………… continues on Forbes

… Read the full article

Related News:

Commerce Department to hold public hearing on long-term care insurance
News from Hometown Focus:

ST. PAUL – Minnesota Commerce Commissioner Mike Rothman announced that his agency will hold a public hearing on longterm care insurance, including premium rate increase requests and policyholder protections.

The hearing will be at 10 a.m. on Thursday, Aug. 27, in the Skjegstad Room of the Stassen Office Building, 600 Robert St. N. in St. Paul.

The hearing will provide consumers, insurance companies and other interested parties the opportunity to offer their views about the state of the long-term care insurance industry. These public comments will assist the Commerce Department’s fact-finding efforts and regulatory responsibilities.

Since the late 1980s, long-term care insurance has been marketed to Minnesotans as a way to plan ahead for the potential future costs of certain types of health or personal services not covered by traditional health insurance.

Recently, long-term care insurance companies have requested larger rate increases with greater frequency. As policyholders on fixed incomes approach the time in their lives when they may need long-term care benefits, they are often faced with the dilemma of either paying increased premiums or dropping their coverage.

In Minnesota, an insurance company that seeks to increase premiums for long-term care policyholders must meet the requirements of state law and receive prior approval fr…………… continues on Hometown Focus

… Read the full article


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