Long Term Care alternative

October 2nd, 2018

Long term care insurance premiums have continued to increase at a high rate industry wide.  An option to deter these increases is to purchase a life insurance policy with a long term care rider.  This will lock in your rates for the duration of the policy….10, 15, 20 years.   Qualifying for a long term claim is the same as a standard long term care policy.  No being able to perform 2 out of the the 6 daily activities

Protecting Your Assets

March 8th, 2018

Long term care policies have improved since they were first offered approximately 25 years ago.  As a result, they have  several misconceptions.  The most common one is that they are for nursing home care only.   Today’s policies are comprehensive;  meaning that one has several options as to the type and location of the care that will be administered.  The recipient can choose to have the care at their home, assisted living facility, or nursing home.

Another misconception is that you should start shopping for a policy when you reach Medicare age.  On average, the chance of having a long term care claim is 50 percent before one reaches age 60.  So, the best time to consider purchasing a long term care policy is the early 50’s.  The longer one waits, the more expensive it becomes and the risk of having a health condition that will disqualify you becomes greater.  The old cliche’ of “get it while the getting is good” could not be more true.    Click here to learn more about these plans and their cost.

Life Insurance Reviews

March 4th, 2018

Life insurance, once purchased, is often forgot about when updating your financial goals or strategies.  One should have their policies reviewed every 3-5 years for several reasons; both personal and industry related….  Have you changed jobs, recently married/divorced, had a child, purchased new home, retired?   In the life insurance industry, life insurance premiums have decreased since we as a population are living longer due to improved technology and medications.   Furthermore,  new products are constantly entering the market, so the policy that you currently have might not be as extensive in coverage when compared to these versions.  A review with us is free of charge and any obligation.  Many people wait until it’s too late.  Make sure that you understand your policy and that it is meeting your current needs.    Click here to request a quote on life insurance.

Dental Insurance vs Dental Discount Plans

October 2nd, 2017

What is the difference between dental insurance and dental discount plans?  In order to make a valid comparison, one must understand how dental services are structured.  They are divided into three categories…preventative (ex. cleanings, x-rays);  basic (ex. fillings, extractions); and major (ex. root canals, crowns).  Dental insurance works as follows… Most dental insurance plans have deductibles (from $50-$250 per person) and waiting periods…basic services (6 months) and major services (12 months).   After the deductible and waiting period are met,  a percentage of the cost is paid by the insurance.  An industry standard is 80% for basic services and 50% for major services. Finally, dental insurance coverage is normally capped at $1000 per person per year.  If braces are a concern, most insurance plans do not cover this procedure.  Average dental insurance premiums are between $25-$45 per person per month.   Dental discount plans work as follows…Most plans have no deductibles or waiting periods.  The discount plan can be used as early as the next day.  Savings range from 25-60 percent.  There is no cap on services and braces are normally included in plan coverage.  Premiums start as low as $10 per month and family rates are even lower.   Please give us a call and we will be happy to give you some quotes over the phone.