| New insurance industry product that
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| | Annuities." There are only a few
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| provides long term care insurance
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| | companies offering this product and the
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| coverage requires no policy, premiums or
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| | structure differs from company to
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| health qualifications. Nd there is no Age
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| | company. To give you a general overview
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| Limitation Why Seniors Don't Buy Long
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| | of the concept and mechanics, I am going
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| Term Care 1. In my experience, over half
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| | to describe the main aspects of one
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| the people who shun long term care
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| | carrier's contract. Check with your
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| insurance do so because they feel they
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| | financial planner for all the options.
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| will never need it. It is difficult to
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| | The underlying base of an "LTC annuity"
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| visualize going to a nursing home.
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| | is an annuity. Annuities have been around
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| Statistically, half of these people will
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| | for a hundred years. They are safe, the
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| be right. However, there are a number of
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| | funds accrue at a competitive interest
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| scenarios where the person may need some
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| | rate, and the account grows tax-deferred.
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| kind of assistance but never see the
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| | To form an LTC annuity, the insurance
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| front door of a nursing home. In fact,
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| | company has built in a "long term care
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| most people who need long term care can
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| | option." It is not a rider. There is no
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| receive care without ever leaving their
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| | premium. It is simply an option you elect
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| home. When you stop and think about it,
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| | if long term care is ever needed. Sweet.
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| the decision not to buy long term care
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| | To qualify, a person only needs to lose
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| insurance is a decision to self insure.
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| | two of six ADLs (activities of daily
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| This can be costly and possibly
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| | living). ADLs are insurance companies'
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| devastating. The average cost of a
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| | method of determining the qualification
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| nursing home today is $80,000 per year
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| | for levels of care. They are eating,
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| and rising.A normal man cant Afford Sch a
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| | bathing, dressing, toileting,
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| huge money towards nursing. At that rate,
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| | transferring (walking) and continence.
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| it doesn't take but a few years to grind
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| | The person doesn't have to be in a
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| through a modest estate. If both the
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| | nursing home. They simply need to have
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| husband and wife need nursing home care,
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| | demonstrated the inability to perform two
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| A person can spend 40 years in a career
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| | of the six ADLs to qualify to put the
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| building a retirement nest egg. They
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| | long term care option in their annuity in
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| spend another 40+ years conservatively
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| | action. An Example If a male, age 60,
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| managing their money while trying to keep
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| | places $200,000 into an LTC annuity,
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| up with inflation. If they need to go
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| | assuming a conservative interest rate,
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| into a nursing home during the last five
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| | the policy would grow to $300,000 in ten
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| years of their life, it all could be gone
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| | years. If the $300,000 were converted
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| quickly. It doesn't have to be that way
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| | into a life income, the person would
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| as you will soon see. 2. Many people
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| | receive $2,200 per month for the balance
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| think long term care insurance is too
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| | of their life. An 8.8% return. Not too
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| expensive. They may be right. If a person
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| | bad, considering it is guaranteed no
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| waits too long to apply, they may have
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| | matter what. With high intrest rate your
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| sticker shock. The rates are based on
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| | annual return and divedends are high. If
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| age. More the Age more the Premium You
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| | this person needs long term care at age
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| can control premium for a long time
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| | 70 by virtue of losing two of six ADLs
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| insurance by selecting the options in the
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| | and elected the long term care option,
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| policy If a person looks at a plan that
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| | the life income would jump to $4,500 a
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| covers home health care only, the premium
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| | month. Conclusion These new products,
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| is lower yet. This takes care of the 50%
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| | long term care annuities, provide the
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| who never will need to go into a nursing
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| | option to receive long term care benefits
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| home. The only thing better is coverage
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| | only if they are needed. There is no
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| without a premium, which I will get to in
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| | separate long term care insurance policy,
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| a minute. 3. Most people react to a
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| | no premiums and generally little or no
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| problem only when the problem surfaces.
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| | underwriting. Now there are no excuses.
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| Its better to prevent than cure.If a
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| | Those who feel they will never need long
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| person waits to apply for long term care
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| | term care will simply never exercise
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| insurance until they are experiencing
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| | their LTC option. Those who find long
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| health problems, any long term care
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| | term care too expensive have an
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| insurance plan may be prohibitively
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| | alternative with no premiums. Moreover,
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| expensive or altogether unavailable. The
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| | those who have health issues can obtain
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| Solution: The Long Term Care Insurance
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| | long term care benefits, as underwriting
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| That is Not a Policy The insurance
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| | is simplified or non-existent. For more
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| industry is very competitive. This very
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| | details visit Financial Directory Silas
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| competition engenders new thinking and
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| | Is a Financial Consultant and make Money
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| creative policies. Enter "Long Term Care
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| | By advertising Online .
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