LTCi Info Articles
Genworth: Temporary Suspension of Individual LTC Products in California
Genworth Life Insurance Company announced today that they have suspended sales of all individual LTC products in California. Specifically, California Choice and Choice Partnership will no longer be available after March 21, 2013 pending the necessary state approvals to launch the Privileged Choice Flex Product in California. If you live in California and have been […]
- Federal Audit Reveals Long-Term Care Insurance Claims Practices
- 10 Ways To Reduce Taxes With Long-Term Care Insurance
- Declined for long-term care insurance? There is hope!
- Protecting Your Assets with a Government-Approved, Long-Term Care Partnership Policy
- How does your choice of Inflation Benefit impact the Daily Benefit over the life of your long-term care policy?
Redlands Daily Facts: Long-Term Care Facts Column
The Truth About Long-Term Care Insurance
Long-Term Care Facts Column: article originally published by the Redlands Daily Facts May 9, 2013: In my last column, I addressed recent articles published on a several well-known news websites have been riddled with half-truths and misleading information. In an effort to educate the public, here are a few more corrections to the half-truths that have cropped […]
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ARIZONA Long-Term Care Insurance Information
The Long Term Care Partnership Program Under the Long Term Care Partnership Program, the Arizona Long Term Care System (ALTCS) will not count some or all of the applicant’s resources (assets) when determining eligibility if the applicant has a long-term care insurance policy that meets certain requirements. In addition to the amount not counted in […]
Can a long-term care insurance policy pay a family member to care for me?
Can a long-term care insurance policy pay a relative to care for you? It depends upon the policy. Most long-term care policies are “reimbursement” policies. A “reimbursement” policy will only pay benefits after you’ve received care from a “qualified care provider.” With most “reimbursement policies”, a relative cannot be a “qualified care provider”. Under certain conditions, there […]
How much and when can long-term care insurance premiums be increased?
It depends upon the type of the policy you buy. There are two types of long-term care policies that can never have a rate increase: Single-pay long-term care policies and Limited pay long-term care policies with corresponding rate guarantees. Single-pay long-term care policies are paid up after just one premium payment. You make one premium payment and your […]
Can a long-term care insurance policy be cancelled by the insurance company?
Can my long-term care policy be cancelled when I reach a certain age? Can my long-term care policy be cancelled because my health changes? Can my long-term care policy be cancelled if I make too many claims? Can my long-term care policy be cancelled if the insurance company sells my policy to another insurance company? Can my long-term care […]
What happens to my long-term care policy if my insurance company stops selling new policies?
N-O-T-H-I-N-G. I know that’s not what the newspapers say. I know that’s not what the headlines on the “news websites” say. But fear sells newspapers and fear increases hits on their websites. Fear (and lies) zoom through cyberspace faster than the truth does. The truth just isn’t sexy enough. The fact is that whether or […]
What is a “Partnership Qualified Policy”?
Partnership Qualified Policy = A type of policy that allows you to protect (keep) some of your assets if you apply for Medicaid after using your policies benefits. Not all states have these policies.
10 Ways To Reduce Taxes With Long-Term Care Insurance
There are 10 tax-friendly ways to pay long-term care insurance premiums. Depending on your situation, you could save hundreds (possibly thousands) of dollars in income taxes over several years by applying just one of these methods. Caveat: LTCFacts.org is not a tax advisor. Each of these situations has additional requirements and you need to make […]
What is an “Underwriting Class”?
The cost of a long-term care insurance policy is based upon several factors: your age at the time you apply for the policy, the benefits you choose for your policy, your premium payment option (e.g. 10-pay, “pay to age 65″, lifetime pay) your state of residence, whether you live alone or with a spouse, partner, […]
What is “Inflation Protection” in a Long-Term Care Insurance Policy?
Inflation Protection = A policy option that provides for increases in benefit levels to help pay for expected increases in the costs of long-term care services.
