Tell me what you think..
I've been thinking: Should long term care insurance be treated as a life insurance or a health insurance? I saw on acsia.com, and I personally think, that it should be the latter because of the obvious similarity that both insurances have, its ground and the standards. However some life insurance has long term care features (albeit limited) which can be paid independently. Not to that mention that companies are allowing their member's life insurance policies to pay for their LTC needs. It's a little tangled, don you think?
I think LTC works best when it is incorporated into life insurance because it guarantees some form of benefit. Whereas a traditional LTC policy, while less expensive than buying it as a life insurance rider, can leave you with nothing after decades of policy premiums if the carrier opts to leave the LTC business as many are doing. But independently LTC is most certainly not life insurance by definition, as the benefit is not trigger by mortality. But from a financial planning perspective, I believe those that can both afford LTC and have a need for it will often be best suited by buying it as a rider on a permanent life policy...often with a decreasing death benefit. Such policy are very effective in the area of small business planning and buy sell agreements.
by Maria Castor Handley 4 years ago
"Why long-term care insurance has yet to catch on"What;s your take on this? That the long term care insurance industry is the most ignored insurance body there is. I think that the writer made his ideas clear and well yet people think that LTC is nothing but a...
by Kristin Trapp 5 years ago
What is the difference between whole and term life insurance?Is the amount of time each insurance policy lasts the only difference or are there others? Does age play a role in determining which one is the best type of life insurance for me and my family?
by pinoyconnection 4 years ago
is life insurance worth it?
by Allen Douglas 4 years ago
What is the difference between term life insurance and life insurance offered by an employer?I was able to get a good rate on a term life insurance policy with a 20 year term. My workplace life insurace seems similar, but the rates change over time. Are there any other difference or...
by Faith Reaper 3 years ago
Should a spouse be able to take out a life insurance policy on their spouse without their knowledge?In light of the Colorado man who allegedly pushed his wealthy wife off a cliff, and who is also now being looked at for his first wife's murder after a car fell on her ...being he had taken out...
by kim frank 6 years ago
Is life insurance money taxableupon my fathers death, in 2010, I received life insurance money from him, do I have to declare this as income and pay a tax? If so, what is the tax rate?
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