It seems that nearly every day we’re hearing about a bank failure or bailout. After witnessing the near collapse of our financial system, including a massive bailout of AIG (the nation’s largest insurer), it’s refreshing to see an insurance company have its rating affirmed by A. M. Best. [Read more...]
When Long-Term Care Isn’t Long Enough
July 29, 2008 By 1 Comment
Statistics show that approximately 92% of those requiring long-term care, whether it be in a nursing home, assisted living facility, or home healthcare, only require it for three years or less. In other words, if you purchased a Long-Term Care policy with a benefit period of three years there is only an 8% chance that you would exhaust those benefits in your lifetime. So, is it really worth it to buy more than three years of coverage? Read the rest of the story for the answer. [Read more...]
When You’re Disabled, But You’re Not
July 17, 2008 By Leave a Comment
The only thing more confusing than the title of this post is deciphering an insurance company’s definition of a disability. After all, regardless of what you say or do, if you believe that you’re disabled and should receive benefits from your Disability Insurance policy, but the insurance company believes that you’re not disabled and do not qualify for benefits, guess what? They won’t pay. Let’s take a look at a typical insurance policy’s definition of a disability and come to a better understanding of when a disability claim is covered. [Read more...]
Long-Term Care Settings
July 5, 2008 By Leave a Comment
Should any person covered by a long-term care policy ever require assisted living, they would receive their care in one of three places: [Read more...]
Is Long-Term Care Insurance Necessary?
July 3, 2008 By 1 Comment
For the vast majority of Tennesseans, it is. Many people believe that their health insurance policy will cover long-term care costs. The truth of the matter is that even if you do own a health insurance policy that offers long-term care coverage (which is doubtful), the benefit is extremely limited and will only cover a short stay in an assisted living facility following an in-patient hospital stay. [Read more...]
Protecting Your Most Valuable Asset
June 30, 2008 By Leave a Comment
I believe that if you asked 100 working class Tennesseans what there most valuable asset was that less then 10% would give you the right answer. What is the right answer you ask? It’s their ability to get up in the morning and go to work; it’s their income. [Read more...]