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A long-term care insurance may be worth the money depending on what the policy offers. However, it would be advisable to channel some of the funds to other forms of investments for the future.
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What is the allowable tax deduction for long term care insurance premiums?
The allowable tax deduction from your long-term care insurance premiums depends on your age. The general rule is that the maximum amount of your deductible money is higher if you are older. Check the related link below to check the highest amounts of tax deductible money from long-term care insurance premiums for the year 2014
How can you find long term insurance care cost?
There are many ways to find long term insurance care. Long term insurance care can be found on websites such as Nationwide, LongTermCare, and CompareLongTermCare.
Which companies offer federal long term care insurance?
The Federal Long Term Care Insurance Program (FLTCIP) specializes in offering federal long term care insurance to eligible groups and their relatives.
Where can one find long term care insurance?
One can find long term care insurance at many various health insurance websites like Blue Cross and Blue Shield. They have many options for long term care insurance.
Does warren buffet have long term care insurance?
I don't know, but I would imagine he has enough money to 'self-insure'.
Is long-term care insurance worthwhile?
A quick and short answer would be yes, however, the need for long term care insurance are also influenced by several factors depending on your age, your current living situation, health and financial status. If you are living alone, financially stable, and do not have family members to care for you then long term care insurance will really be worth it. If you have history of chronic illness in your family, you might as well consider getting long term care insurance as well. But if you are already ill and above 60 years old, then the chances of getting it will be very low as it would cost too much and you might be declined. Long term care insurance is worth it when you have planned for it while you are still young and healthy, in addition, don't buy it if you have no plans of keeping it.
What are some companies that sell long term care insurance?
Companies that sell long term care insurance are American Fidelity Assurance, Berkshire Life Insurance, MedAmerica Insurance and Prudential Insurance.
Is long term care insurance the same as long term disability insurance?
Long-Term Care insurance protects asstes, disability income protects incomeNo, long term care insurance covers all the costs of a caregiver that is not covered by Medicare, Medicate and disability insurance. These services are quite extensive and expensive.
Are there insurance policies that cover only custodial care?
An insurance policy that covers custodial or personal care is a long term care insurance, generally, long term care insurance covers things that are not covered by health insurance. If you are unable to perform activities of daily living, or need assistance due to disability and chronic illness, long term care insurance covers these services. However, you need to buy it before your develop a condition that would require you to be on long term care
Can I use my health savings account to pay for long term care insurance premiums?
Health savings account are tax free, and the money that was supposed to pay the taxes can be used for long term care expenses
Where can one take out a long term care insurance policy?
One can take out a long term care insurance policy from several different places. Some of the places in which one can take out a long term care insurance policy from are: Long Term Insure Me, and Own Your Own Future.
Does Warren Buffett own long term health care insurance?
Long term care is NOT an annuity. It is a health insurance policy which provides both skilled and custodial care for policy holders. Instead of sending the client to a skilled nursing facility, a good long term care policy will provide both types of care at the clients home. Also, how is using someone else's money for your needs rather than spending you own money "not a good investment"? Insurance is about passing on the bulk of the financial risk. to the insurance company so you don't go broke in the event of an emergency. Health care costs is the number 1 reason seniors are declaring bankruptcy in America. A good long term care policy helps protect a client's assets. Instead of a person having to "spend down their assets", they can use an insurance company's money to pay for their post hospitalization care (long term care) and stay at home doing so. Have a Long Term Care policy for my wife and myself from Bankers Life & Casualty. Call your local Bankers agent to get more information.
