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Complete Long Term Care
Long term care insurance information center with topics about costs in different states, care, facilities, quotes and many more.
Long term care insurance information center with topics about costs in different states, care, facilities, quotes and many more.

Complete Long Term Care's posts

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Find out how you can save money and setup an emergency fund if you’re about to buy an LTCI policy.

#longtermcare #insurance

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Find out how you can save money and setup an emergency fund if you’re about to buy an LTCI policy? #longtermcare #insurance

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Where do I start in preparing for retirement?

One of the most important decisions any American can make in their life is to be financially ready for retirement. Fortunately, it becomes easier once you know where to start.

People in their 20s are not worried about retirement, but time flies fast and what was overlooked may hit them when at least expected.

To start preparing for retirement, you will need to be familiar with the basics of financial planning. It includes learning the terms used by professionals in creating a financial or retirement plan.

Here are basic terms used with financial or retirement planning:

1. Assets
Assets are the things you own outright, such as land, motor vehicles, money in bank accounts, stock and valuable jewelry.

2. Net Worth
Net worth is the total value of your assets minus your total debt.

3. 401(k)
A 401(k) is a type of retirement savings account. Your employer deducts the contribution to your 401(k) from your wages. The income tax on the contributed amount is deferred until the time you withdraw money from it.

4. Roth IRA
A Roth IRA is an individual retirement plan. Unlike a traditional IRA, Roth contributions are not tax-deductible.

5. Compound Interest
Compound interests are interest earned on the principal amount plus its accrued amount. Compound interest accrues on the principal amount plus any interest that has been generated from the principal amount.

6. Bonds
Bonds are an interest-paying debt security and a fixed-term investment. You buy a bond from an issuer, and the issuer pays you interest in return. Most bonds have a fixed term and rate of return.

7. Stocks
Stocks are units of ownership in a corporation. Stocks are tradable securities, and their prices frequently fluctuate.

Financial advisers will often bring up these terms and use them with questions for example; “What will be your net worth once you retire?” It will be confusing for you and delay your discussion unless you familiarize yourself with these basic financial terms.

Getting familiar with these terms is a good place to start retirement planning and should get you up to speed when consulting with professionals.


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Know what to include in your long term care policy.

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How can I ensure that my insurer will pay up?

Owning a long-term care insurance policy provides you peace of mind from knowing that you will be covered for your long-term care expenses. However, how sure are you that you will be paid?
There are certain steps that you can take so that making claims is easier and more effective.

Here are ways to ensure that your insurer will pay up:

1. Learn about benefits triggers.
Almost all benefits are designed with a trigger. It is rare that a benefit is automatic and has no requirements before it takes effect.
Ask your insurer about what triggers your benefits have and find out if there are other requirements before you can make claims.

2. Get to know more about home-care requirements.
If you plan on receiving care at home, talk to your insurer about the requirements for payouts. It is important that you understand the process of payouts especially when you will be hiring a caregiver at home.
Some insurers require home caregivers to be licensed by an agency. Others can even pay benefits to relatives who are involved with providing care.

3. Learn more about your policy’s waiting period.
Most policies have waiting periods that follow a fixed number of days, depending on the accepted agreement, availability, and convenience.
While some insurers are able to provide a zero-day waiting period for home care, they may have a longer period for nursing home care or assisted living.
Some companies count every calendar day from the moment you began needing care and onwards even if you didn’t require care on some days.
On the other hand, other companies only count the days that you required care and this will extend the waiting period.

4. Make a record of every transaction or conversation.
Be sure to keep all your policy paperwork filed in case you need it for reference. Some claim or payout issues are caused by mismanaged paperwork.
Also remember to keep track of phone calls, meetings, and consultations that you had with your insurer. Be sure to get information about transactions between your doctor or facility and your insurer.

5. If denied, appeal your claim.
In case of a dispute, you can work through the insurer’s appeal process and get assistance from your state insurance department.

Claims processes should be seamless and should not be the cause of stress. It’s ironic to be stressed by something originally designed to help you reduce stress, specifically with long-term care costs.
Keep these tips in mind so that your claims process  become smoother.


#InsuranceCompanies   #Finance  

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Believe with all your heart that you deserve happiness


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Residents' Rights Month is an annual event designated by the Consumer Voice and is celebrated in October to honor residents living in all long-term care facilities, including nursing homes, sub acute units, assisted living, board and care and retirement communities.
The theme for Residents' Rights Month 2014 is, "Better Staffing: The Key to Better Care" with the goal of encouraging residents and others to be educated about staffing and long-term care.

Happy Residents' Rights Month!

#longtermcare   #completelongtermcare  

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There are many things that differ when it comes to long term care for women, as opposed to men. 
Here are some facts to consider why ltci for women cost more than men:
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