Seventy percent of people will need long-term care during their lifetime, and it’s catastrophically expensive! If you like to plan in advance, you may have considered long-term care (LTC) insurance as an option, and if you work for the federal government, you may have considered purchasing coverage through the Federal Long Term Care Insurance Program […]
How to Afford Assisted Living
Q. We are considering assisted living for my father in the not so distant future. He doesn’t quite need a nursing home yet, but he certainly needs more help than we can provide in the home. Although assisted living is not as expensive as nursing home care, it’s still quite expensive. I understand that she […]
What to Do When Long-Term Care Insurance Premiums are Skyrocketing
Q. Last week my friend, Patty, received notice of a substantial increase in her long-term care insurance premiums. She was so upset that she fired off an email to the Virginia Insurance Commissioner, Scott White, exclaiming how appalled she is that he gave his okay to such an egregious increase. Patty and her husband, Frank, […]
Long-Term Care Insurance vs. Life Insurance with a Long-Term Care Rider
Q. My mother was in a nursing home for about two years prior to her death, and it cost the family most of her savings. I don’t want the same to happen to me and my husband. Therefore, we are trying to make the decision of buying either long-term care insurance or life insurance with […]