Baygroup Insurance

Maryland's premier Long-Term Care insurance agency

Case Studies

Prepare for LTC NOW - Client is in an Assisted Living or Nursing Home Now

A Medically Underwritten Immediate Annuity will be a good solution for someone in an assisted living or nursing home that is able to re-position assets to generate an income stream for the rest of his or her life.

Life Insurance with LTC Rider

Facts: 

  • Health
    • Husband and wife in early 70's, both non-smokers
    • Husband is uninsurable for 2 years because of new finding that doctor's don't know IF it will be an issue
    • Wife is healthy
  • Finances - Cash and home equity line total 100K
  • Preferences  - desires LTC coverage, however linked-benefit is the only option for the  husband.  Wife could use traditional or linked-benefit.

Shared Policy for spouses - Pre-planning for LTC

Facts:

Attorney and his wife, both aged 50, in good health, concerned about prospective costs of long-term care in their 80's or 90's.  Also concerned that if something were to happen earlier, especially during working years that their disability coverage would not provide enough funds to pay for their lifestyle and for the cost of care.  A portion of their premium is deductible.

Family Member Pays Part of LTC Premium

Facts:

Single woman, aged 59 has accumulated $200,000 in assets.  At age 67 will receive moderate income from Social Security and is still working.  Wants to remain at home for as long as possible if care is required.  Lives in Ohio, daughter lives in Maryland.  Daughter earns significant income but is concerned that if her mother were to require care, she would not be able to take time off from work to provide care. Mother resistant to purchasing adequate coverage because she felt she could not afford the premium.

Solution:

Tailored Benefits for Each Spouse - Traditional LTC Plan

Facts:

64 year old couple were concerned that if husband died, his $80,000 per year pension (19 years ago) would no longer provide the income needed in addition to investment income to provide for his wife's lifestyle if she required long term care assistance.