Phil Cannella Complaints

03/12/2011 15:30

Many people acknowledge the fact that at some point in their lives they will require long term care due to a disability triggered by either an accident or a debilitating illness. Unfortunately, many of them still lack long term care insurance information. That being the case, most of these Americans can only hope that their financial resources will be enough so they can fund the huge expenses which they could incur from LTC services. Financial advisers, however, say only people who have assets totaling to a billion can afford to self-insure should they acquire a disability in the future and require long term care. Those who have assets that range from $500,000 to $1,000,000 should consider other alternatives because self-insuring is definitely not one of their options.Leaders in the long term care industry have been constantly advising the public, especially those who are heading towards their retirement, to consider a long term care insurance policy. This is basically their only passport to financial salvation.Sure you have more apart from rental properties, livestock and $500,000 in the bank. That will somehow be enough if you're receiving care at the moment. But if you're looking 20 years down the road, that amount translates to mere loose change. This is not a hyperbolic expression. It is a fact of life which we are about to experience if we don't prepare for the future cost of long term care services which is predicted to double. If you think there's a possibility that you'll land in a nursing home in 2026, prepare $155,490 every month as cost of care would've increased twofold by that time. Research shows that 75% of the total population of a nursing home in America is comprised of women and the reason behind this is simply because women live longer than men nowadaysAccording to general long term care insurance information disseminated by top LTCI vendors, after women have provided care for their husbands and parents who were struck by a terminal illness, they will be left alone and have no one to take care of them. This explains why they are the target market of most insurance companies offering long term care insurance policies.This information, however, does not exempt men from securing LTCI policies. They need it as much as women do especially if they have numerous assets which they plan to pass on to their wives, children or grandchildren. Read more about Phil Cannella Complaints.The partnership LTCI program has become popular among the upper class members of society since the new millennium ushered in. This type of LTCI product was initially conceptualized for the middle class so that they can save on annual premiums through a short benefit period, while managing to apply for Medicaid assistance to receive further care after having exhausted their policy benefits. It didn't take long for the upper class in society to pick up on the benefits that they can reap from this type of LTCI policy. Through the partnership program, they realized that they can protect the assets which they have worked so hard to accumulate from being wiped out by long term care expenses.If you want to learn more about the partnership program, seek complete long term care insurance information from your reliable insurance agent or consult your state's Department of Insurance.For more info visit Phil Cannella Complaints.


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