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Long Term Care Insurance Online

When a good friend of mine inquired where There are literally hundreds of thousands
he could obtain information about medical of insurance agents and brokers
insurance for his out-of-state, elderly advertising on the Internet. Most of them
mother, I told him to try the Internet. will provide instant on-line quotes and
He reported back to me about a week even applications for the potential
later, in desperation: "I am giving up, I insured. I highly discourage a layperson
am too confused." He had taken on an to purchase insurance in this fashion. A
overwhelming project with his widowed little knowledge can be dangerous. The
mother, living in another state. As the federal government has mandated to all
only child, and following the sudden states through legislation, the
death of his father, it was his standardized senior health insurance
responsibility to care for his mother. policy guidelines, which are governed and
In this world of technology, the family regulated by each state insurance
unit is often living in different department. There are plans for almost
geographical areas and the family members every level of health. Some are designed
are usually quite involved with their own and priced for a less than healthy
lives, careers, and families. In individual. Others are for a person with
addition, when both parents are alive, minimal health concerns. The whole
often one or both parents are quite concept of insurance is to provide
independent and do not require a lot of protection for "unanticipated" sickness
assistance. As time goes on things, of or injury, especially catastrophic
course, change, and sometimes change very expenses, which would devastate a
suddenly. There can be a crisis, with person's net worth. The more small
regard to the health care needs of one or expenses a person is willing or able to
both aging parents. pay (self-insure), the lower the rate. I
With our baby boomers facing this problem recommend this strategy when evaluating
in ever increasing numbers, and with the your insurance options. Another
information highway in full bloom, there consideration when reviewing various
is a definite need for planning. insurance plans is to look at the company
Protecting your parent's assets and itself. How long has the company been
health is a huge and daunting selling this type of insurance? Do they
undertaking, which requires a tremendous have a lot of complaints filed with the
amount of education and practical local department of insurance? Are the
application. Our seniors face many rates stable? Does it pay claims on time?
diverse responsibilities upon reaching Service? Most agents talk about the
age 65. To name just a few: Estate rating. These ratings are as follows: A+,
planning, taxation, Medicare, social A, A? B+, B, B? C+, C, C? or "not rated."
security, wills, insurance, and various Do not be fooled by rating alone. It is
other legal and financial matters. All of good to have a high rating, but it is far
these different areas require expertise better to have a company that has
from accountants, lawyers, estate longevity, stability, innovation,
planners, insurance agents, home brokers, service, and expertise. The problem is
financial advisors, and others. that some companies enter into a market
The Internet is a good starting point for and quickly leave without explanation.
most people to find resources for This does not give security to the
questions and solutions for your policyholder. The most important
problems. There is, however, no consideration should be a review of the
replacement for good solid intelligent profit/loss ratio for that product. This
advice from an expert. Twenty years ago, will establish stability, and longevity
insurance for elders was sold by "senior in the market. An insurance company with
insurance specialists," with just a a moderate profit in a particular line of
handful of companies in each state. The business will remain in that market. On
programs were most often Medigap or the other hand, a company with losses
Medicare supplemental policies, which will make changes and possibly even
covered the expenses not covered by withdraw. This is information not
Medicare, including hospital and doctor normally available to Internet users.
deductibles, durable medical devices, and Before entering into an insurance
non-approved Medicare costs. Ironically contract , the senior person, the family,
these specialists did not sell a lot of and other advisors must be realistic, and
nursing care policies, even though a careful evaluation of the entire
Medicare paid a national average of less picture must be examined. The age, the
than 2% of these expenses. With the health of the senior, the financial
advent of "financial and estate planning" resources, the personality and attitude
and more insurance companies entering of the senior, and most importantly the
this market, a more broad and diversified desires of the senior, should all be
product line became available to agents, considered. Early planning is important,
brokers, planners, and seniors. Part of as qualification becomes increasingly
this new diversification was the "home more difficult as the applicant's health
health care plan," sold by itself, and in declines. The senior health care market
conjunction with senior health insurance is complex. I will offer some words of
products. The appeal of the "home health advice to attempt to alleviate potential
care policy" was that a senior could stay pitfalls. *C hoose a well-informed,
at home and still receive medical and seasoned, and service oriented agent or
custodial benefits, allowing a person to broker to assist your decision making
recuperate in the comfort of their own process. The professional can offer
home. This was the answer to a huge invaluable information, but do not be
problem. The last place an older person afraid to ask a lot of questions and even
wanted to go was a "retirement home," or get a second opinion. *Do not wait until
"rest home," or, God forbid, the "nursing your parent or loved one is sick, or
home." It appeared that seniors could now injured. Plan ahead and take the time
rely on this new innovation without worry needed to cover all the options. *C hoose
of having to move out of their home an experienced insurance company. A
environment in the event of a health Company that has been in the marketplace
problem. As with most things," if it is for a significant time and has maintained
too good to be true." ... The home health a balance of rates and benefits and sound
care policy is no exception. The problem risk selection with moderate rate
is, there is not enough coverage for a increases over time is your best bet. *T
lengthy illness or recuperation time. The he plan should be flexible, with a broad
fact is, the new trend is toward an "all range of options and benefit selections
in one" type facility, allowing for a to the insured. There should be no
variety of levels of care all in one tricks, or complicated language for the
location. In other words a senior could coverage. An incredibly low rate is a red
start off with little or no health care flag for trouble in the future. *Do not
concerns in an independent, less rush or be rushed by an over aggressive
expensive area, and then go to an sales person. This policy will not be
assisted living, or nursing care inexpensive and will need to be read and
facility, all within the same compound. A reviewed for a clear understanding of the
"nursing home" requires a nurse on the contents. This is one advantage to the
premises 24 hours per day, assisted Internet. You are allowed to read
living is just eight hours. The indefinitely before you act.
advantages to this are financial. The A long-term care program, with or without
patient or senior is only charged insurance coverage, will only work if the
according to the care level required senior has input into the care selection
during the time he or she is admitted to process. If there are any questions about
that facility. Another benefit is it the accreditation of a facility please
alleviates a lot of planning because the call the "Continuing Care Accreditation
care is delivered, as it is needed. The Commission at 202-783-7286.
medical attention is available to all By William H. Pritchett This article is
residents regardless of their current free for republishing
health. Some people are offered a Source:
lifetime package , which covers their In 1984, William Pritchett, Jr. developed
care for the rest of their life, the first Home Health Care plan of its
regardless of their current age. It also kind, which revolutionized the insurance
allows for social outlets to an otherwise industry in this market. The program was
somewhat isolated group. On-line shopping developed to allow seniors to recuperate
services have become a huge business. It in the comfort of their own ho.me as an
is definitely here to stay and many alternative to assisted living
insurance policies are purchased from facilities. This idea has grown into an
Internet quotes and on-line applications. entire industry.




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