Personal Finance: Insurance a way to get long-term care policy
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Description: From the Seattle Post-Intelligencer. Columnist Jane Bryant Quinn offers this article on coverage and industry basics.
Personal Finance: Insurance a way to get long-term care policy - seattlepi.com Quick links to other pages on this site Personal Finance: Insurance a way to get long-term care policy By JANE BRYANT QUINN, SYNDICATED COLUMNIST
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| Page title: | Personal Finance: Insurance a way to get long-term care policy - seattlepi.com |
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| Description: | [...] the industry hopes to reach younger, more affluent buyers by combining long-term care with life insurance. A basic long-term care policy covers the potentially catastrophic cost of a long-term stay in a nursing home. Comprehensive long-term care policies include coverage at home, in adult day care and at assisted-living communities. A medical study done 10 years ago projected that around one-third of the people reaching 65 would spend at least three months in a nursing home; 24 percent would be there for at least a year, and just 9 percent at least five years. "Today, nursing-home stays are shortening as more people opt for home care or assisted living," says Steve Moses, president of the Long Term Care Center in Bellevue. If you need long-term care, you start taking money from the death benefit -- usually on a prearranged schedule. Of the policies sold, the average face value is running at $450,000, says a vice president, Paul Strong. "People are better served by buying a good long-term care policy and separately buying life insurance," President Tom Skiff says. |
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| NS | Name Server: NS.RACKSPACE.COM Name Server: NS2.RACKSPACE.COM |
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| Date | Creation Date: 25-mar-1999 Expiration Date: 25-mar-2014 |