I need help for my insurance
Hi. I need some advice about getting a long term care insurance for my mom. She's currently 52 and I talked her into this a couple of months ago when her friend got a heart attack. I also talked to an agent about us, my mom and me, sharing her premiums so she can finish it as early as possible. At the moment, I am having a monthly income of $800 so I think that I can do just that. Is there however some other question/s that I have to ask even before availing one?
I can suggest several.
Does the policy protect your mom against rising costs in the future from inflation or other causes?
Does the policy guarantee the premium will not change or at least will remain the same for a specified period of time?
How does the policy cover home health care and different levels of nursing home care such as skilled, intermediate and custodial care including the total benefit amounts and benefit period duration?
Does policy cover comprehensive care both at home and in a nursing home so that your mom can stay at home with less severe ailments?
Do the benefits include at least one year plus the maximum number of days you can afford?
Is the policy guaranteed renewable regardless of health or age as long as the premiums are paid on time?
Is there a deductible or a waiting period of 100 days or less before coverage begins?
Is dementia and Alzheimer’s covered?
Does the policy include nonforteiture of benefits even if you cancel or stop paying premiums so you will still receive some part of your benefits?
Is the insurance company financially sound with a good reputation?
Is the premium less than 7% of your income?
Also, if budget is an issue, have you looked into Short Term Care Insurance. As the name states it offers similar coverage for a shorter period of time, usually a year max. The premium cost is usually much less than long term care insurance.
by Maria Castor Handley4 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...
by Kristin Trapp5 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...
by Mentalist acer7 years ago
Will the new healthcare policy personally help you,and just exactly are the drawbacks of the healthcare bill?
by Karen Lorenzo3 years ago
One of the many valid reasons why most Americans disregard the idea of buying long-term care insurance is to avoid the mess of financial trouble once it started wrapping itself to you/them. And they have every reason to...
by motown p7 years ago
How much of my health insurance premium can i claim as a medical deductionI have deductions coming out of my pension check for medical & dental. I pay medicare premium each month out of my social security...
by Maria Castor Handley4 years ago
You came here because of the title huh? Same thing what happened to me. I was googling something random when I came across acsia.com where they posted this link http://nymag.com/news/features/parent-h …...
Copyright © 2018 HubPages Inc. and respective owners.
Other product and company names shown may be trademarks of their respective owners.
HubPages® is a registered Service Mark of HubPages, Inc.
HubPages and Hubbers (authors) may earn revenue on this page based on affiliate relationships and advertisements with partners including Amazon, Google, and others.