Welcome!

Linux Containers Authors: Yeshim Deniz, Pat Romanski, Elizabeth White, Liz McMillan, Vaibhaw Pandey

News Feed Item

Long Term Care Insurance Savings Depend on Asking the Right Questions

Four Questions Can Cut Your Long Term Care Insurance Cost, Advises the American Association for Long Term Care Insurance

LOS ANGELES, CA -- (Marketwired) -- 11/21/14 -- Asking questions is the simplest and most effective way of learning. Yet few people ask the right questions when it comes to long term care insurance planning?

"It's a new area and people are afraid they'll look ignorant and unsure when in fact asking the right questions can save you money and give you the assurance that you are working with an expert interested in your best interests," explains Jesse Slome, director of the American Association for Long-Term Care Insurance (AALTCI) a national trade group.

The author of a dozen leading consumer guides all focused on retirement and long-term care planning shares questions consumers should ask. "There are questions you want to ask yourself as you start planning and questions to ask the insurance or financial professionals you chose to ultimately work with," Slome advises.

Slome advises beginning the process by asking, am I (or we) willing to accept some of the financial risk should a need for extended care arise? "Having insurance to pay some, say half of the cost, makes sense today and will reduce your insurance premiums," Slome explains. "People overlook the fact that they'll be receiving Social Security benefits and likely have investments today that will grow and can be used along with insurance benefits."

According to AALTCI data, a 65-year old purchasing coverage that will pay each spouse $8,000 in monthly benefits at age 80 could save 38 percent having coverage that pays $5,000-per-month with any necessary balance paid from their savings. "The 'all or nothing' approach to long-term care planning isn't one I'd recommend today unless you can afford it," Slome adds.

Another money-savings tip involves choosing long-term care insurance protection that allows you to increase your coverage in future years. "You secure a lower cost now and lock in your good health so you can add more coverage in future years," Slome advises. "If you are willing to examine your long term care plan periodically just the way you track your investments, definitely consider this option." Ask if the option is available because not all companies offer this feature he notes.

A couple both age 55 purchasing coverage where benefits grow one-percent annually with a future buy-up option will pay about $190-per-month for roughly $300,000 of benefits at age 85. "The 'one and done' approach where you select a 3% annual increase will cost about $325 monthly or 21 percent more.

Questions To Ask Your Long-Term Care Insurance Agent

"Don't let the small print become the big print, is a caution I like to share with consumers," Slome notes. "It's the small contractual print contained in your policy that matters when it's time to make a claim for benefits. Long-term care insurance policies are typically 40-to-50 pages and chances are you won't know how to interpret the various terms and definitions but an experienced professional will."

"Insurance companies do not sell policies directly to consumers so visiting their websites will merely get you a call from someone who likely favors their particular policy," Slome shares. "If you walk into a Ford dealership, don't expect the salesman to tell you the advantages of buying a Toyota or Honda."

Asking questions to determine the experience and expertise of the insurance agent or financial professional you are working with can benefit you in the long run, he adds. Two questions to ask include, how many years has the agent been selling long-term care insurance and how many insurance companies are they appointed with.

"Appointed is industry jargon that simply means the agent can sell that company's policy and earn a commission for doing so," Slome shares. "Policy pricing, options and features and even the health requirements vary so significantly today, you'll benefit from working with someone who puts your interests first and theirs second."

For no-cost advice or to compare long term care insurance costs and policies, connect with a designated specialist by calling the American Association for Long Term Care Insurance at (818) 597-3227 or visit the organization's website for information.

Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=2725191

Contact information:
Jesse Slome
American Association for Long-Term Care Insurance
Email Contact
(818) 597-3227

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

@ThingsExpo Stories
DX World EXPO, LLC, a Lighthouse Point, Florida-based startup trade show producer and the creator of "DXWorldEXPO® - Digital Transformation Conference & Expo" has announced its executive management team. The team is headed by Levent Selamoglu, who has been named CEO. "Now is the time for a truly global DX event, to bring together the leading minds from the technology world in a conversation about Digital Transformation," he said in making the announcement.
"Space Monkey by Vivent Smart Home is a product that is a distributed cloud-based edge storage network. Vivent Smart Home, our parent company, is a smart home provider that places a lot of hard drives across homes in North America," explained JT Olds, Director of Engineering, and Brandon Crowfeather, Product Manager, at Vivint Smart Home, in this SYS-CON.tv interview at @ThingsExpo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
SYS-CON Events announced today that Conference Guru has been named “Media Sponsor” of the 22nd International Cloud Expo, which will take place on June 5-7, 2018, at the Javits Center in New York, NY. A valuable conference experience generates new contacts, sales leads, potential strategic partners and potential investors; helps gather competitive intelligence and even provides inspiration for new products and services. Conference Guru works with conference organizers to pass great deals to gre...
The Internet of Things will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform. In his session at @ThingsExpo, Craig Sproule, CEO of Metavine, demonstrated how to move beyond today's coding paradigm and shared the must-have mindsets for removing complexity from the develop...
In his Opening Keynote at 21st Cloud Expo, John Considine, General Manager of IBM Cloud Infrastructure, led attendees through the exciting evolution of the cloud. He looked at this major disruption from the perspective of technology, business models, and what this means for enterprises of all sizes. John Considine is General Manager of Cloud Infrastructure Services at IBM. In that role he is responsible for leading IBM’s public cloud infrastructure including strategy, development, and offering m...
"Evatronix provides design services to companies that need to integrate the IoT technology in their products but they don't necessarily have the expertise, knowledge and design team to do so," explained Adam Morawiec, VP of Business Development at Evatronix, in this SYS-CON.tv interview at @ThingsExpo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
To get the most out of their data, successful companies are not focusing on queries and data lakes, they are actively integrating analytics into their operations with a data-first application development approach. Real-time adjustments to improve revenues, reduce costs, or mitigate risk rely on applications that minimize latency on a variety of data sources. In his session at @BigDataExpo, Jack Norris, Senior Vice President, Data and Applications at MapR Technologies, reviewed best practices to ...
Widespread fragmentation is stalling the growth of the IIoT and making it difficult for partners to work together. The number of software platforms, apps, hardware and connectivity standards is creating paralysis among businesses that are afraid of being locked into a solution. EdgeX Foundry is unifying the community around a common IoT edge framework and an ecosystem of interoperable components.
Large industrial manufacturing organizations are adopting the agile principles of cloud software companies. The industrial manufacturing development process has not scaled over time. Now that design CAD teams are geographically distributed, centralizing their work is key. With large multi-gigabyte projects, outdated tools have stifled industrial team agility, time-to-market milestones, and impacted P&L stakeholders.
"Akvelon is a software development company and we also provide consultancy services to folks who are looking to scale or accelerate their engineering roadmaps," explained Jeremiah Mothersell, Marketing Manager at Akvelon, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"IBM is really all in on blockchain. We take a look at sort of the history of blockchain ledger technologies. It started out with bitcoin, Ethereum, and IBM evaluated these particular blockchain technologies and found they were anonymous and permissionless and that many companies were looking for permissioned blockchain," stated René Bostic, Technical VP of the IBM Cloud Unit in North America, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Conventi...
In his session at 21st Cloud Expo, Carl J. Levine, Senior Technical Evangelist for NS1, will objectively discuss how DNS is used to solve Digital Transformation challenges in large SaaS applications, CDNs, AdTech platforms, and other demanding use cases. Carl J. Levine is the Senior Technical Evangelist for NS1. A veteran of the Internet Infrastructure space, he has over a decade of experience with startups, networking protocols and Internet infrastructure, combined with the unique ability to it...
22nd International Cloud Expo, taking place June 5-7, 2018, at the Javits Center in New York City, NY, and co-located with the 1st DXWorld Expo will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud ...
"Cloud Academy is an enterprise training platform for the cloud, specifically public clouds. We offer guided learning experiences on AWS, Azure, Google Cloud and all the surrounding methodologies and technologies that you need to know and your teams need to know in order to leverage the full benefits of the cloud," explained Alex Brower, VP of Marketing at Cloud Academy, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clar...
Gemini is Yahoo’s native and search advertising platform. To ensure the quality of a complex distributed system that spans multiple products and components and across various desktop websites and mobile app and web experiences – both Yahoo owned and operated and third-party syndication (supply), with complex interaction with more than a billion users and numerous advertisers globally (demand) – it becomes imperative to automate a set of end-to-end tests 24x7 to detect bugs and regression. In th...
"MobiDev is a software development company and we do complex, custom software development for everybody from entrepreneurs to large enterprises," explained Alan Winters, U.S. Head of Business Development at MobiDev, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Coca-Cola’s Google powered digital signage system lays the groundwork for a more valuable connection between Coke and its customers. Digital signs pair software with high-resolution displays so that a message can be changed instantly based on what the operator wants to communicate or sell. In their Day 3 Keynote at 21st Cloud Expo, Greg Chambers, Global Group Director, Digital Innovation, Coca-Cola, and Vidya Nagarajan, a Senior Product Manager at Google, discussed how from store operations and ...
"There's plenty of bandwidth out there but it's never in the right place. So what Cedexis does is uses data to work out the best pathways to get data from the origin to the person who wants to get it," explained Simon Jones, Evangelist and Head of Marketing at Cedexis, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
SYS-CON Events announced today that CrowdReviews.com has been named “Media Sponsor” of SYS-CON's 22nd International Cloud Expo, which will take place on June 5–7, 2018, at the Javits Center in New York City, NY. CrowdReviews.com is a transparent online platform for determining which products and services are the best based on the opinion of the crowd. The crowd consists of Internet users that have experienced products and services first-hand and have an interest in letting other potential buye...
SYS-CON Events announced today that Telecom Reseller has been named “Media Sponsor” of SYS-CON's 22nd International Cloud Expo, which will take place on June 5-7, 2018, at the Javits Center in New York, NY. Telecom Reseller reports on Unified Communications, UCaaS, BPaaS for enterprise and SMBs. They report extensively on both customer premises based solutions such as IP-PBX as well as cloud based and hosted platforms.