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.
We are open and available to educate and help you plan using insurance to fund your plan. When you work with Baygroup Insurance, we will talk with you on the phone and permit you to view our screen as we go over information in the comfort and safety of your home. Take the first step to learning more about planning for your family. We can help you with long term care, life, disability, health and
Combination Long Term Care insurance (LTCi) policies, also known as linked-benefits or hybrid policies, are quickly gaining popularity.It combines or links long term care benefits with another type of insurance - life insurance plan or an annuity. It provides a benefit pool to pay for qualified long term care expenses, but if care is not needed, the heirs receive the life insurance death benefit or the cash value from the annuity.
Terry Savage discusses asset-based Long Term Care insurance in this article. While supporting the need for long term care insurance, Savage acknowledges that the product may seem too pricey for some consumers. This article discusses Combination long term care insurance/life insurance products in this article. These products are gaining popularity for many reasons.
Melissa Barnickel returns to the Senior Spotlight radio show with Sue Haviland to discuss Long-Term Care insurance. Listen to clips from the radio show!
Dave Carpenter discusses the importance of owning Disability Insurance in this Bloomberg Business Week article. Disability Insurance is easy to overlook, until it is needed. This statistic from the article speaks for itself:
Government studies show that a 20-year-old worker has a 30 percent chance of becoming disabled before reaching full retirement age. Yet only about a third of employees in private industry have long-term disability insurance, according to the Bureau of Labor Statistics.
Kelly Greene of the Wall Street Journal addresses common concerns about purchasing Long-Term Care insurance (LTCi), but validates that LTCi is necessary.
Medigap, also known as Medicare Supplement, is insurance designed to fill the "gaps" in original Medicare coverage. It is a supplement to Medicare. Medicare Supplement plans pay deductibles and copays not covered by Medicare A or B. If you have Medicare Part A and Part B and do not have retiree health coverage you may want to consider a Medigap insurance policy. If purchased, the two will work together to pay covered health care costs. If you would like to discuss when you should apply for Medicare A and Medicare B, contact Baygroup Insurance at 410-557-7907, we will be happy to educate you. Another great resource is the Medicare and You booklet that is issued by Centers for Medicare and Medicaid.
