J.K. Lasser's Choosing the Right Long-Term Care Insurance (J.K. Lasser--Practical Guides for All Your Financial Needs)
Format: PDF / Kindle (mobi) / ePub
A PRACTICAL GUIDE TO THE COMPLICATED ISSUE OF LONG-TERM CARE INSURANCE
"Next to buying the right long-term care insurance, buying and reading J.K. Lasser's Choosing the Right Long-Term Care Insurance is the best investment seniors and their families can make to help insure independence and dignity in their golden years."
-Scott Harshbarger, President and CEO, Common Cause
"An indispensable book for all those concerned that the cost of health care will rob their old age of dignity and independence. The author, Ben Lipson, an articulate advocate of patient rights and an authority on health insurance, provides a lucid road map in a terrain mined with hokum."
-Bernard Lown, MD, winner of the Nobel Peace Prize
"Long-term care insurance is a much-needed and valuable insurance concept, marketed in a maze filled with smoke and mirrors. Most of what passes for consumer guidance is just general information and superficial advice. But Ben Lipson's book takes you by the hand, leads you through the insurance labyrinth, and shines a much-needed light on the product."
-Charlie Sabatino, President, National Academy of Elder Law Attorneys
Critical coverage will help you:
* Decide whether you are among the 40 percent of people who do not need to buy long-term care insurance
* Receive the benefits you purchased when you have to make a claim
* Distinguish between fact and fiction during a sales pitch
J.K. Lasser--Practical Guides for All Your Financial Needs
Please visit our Web site at www.jklasser.com
erroneously that their health insurance will also cover long-term care. People have paid insigniﬁcant medical deductibles at their yearly physicals, and then all the diagnostic tests and consultations have been covered by their health insurance. They’ve been spoiled. And they assume that, somehow, managing longterm care costs will be just as easy. Let me say it unequivocally: In most if not all situations, your long-term care will not be funded by your health insurance—whether you’re 35 or 85.
ALTERNATIVES TO LONG-TERM CARE INSURANCE stay independent and enjoy them. Great-grandpa and Grandpa did not need the long-term care that you may be anticipating. Grandpa might have borrowed against his life insurance, however, or simply cashed it in. You’re considering the same option. If you opt for this funding source, your forebears would understand. It’s the kids who will miss the money they expected, even as they appreciate your ability to care independently for yourself if you need care.
cognitive impairment to this list. UnumProvident says a severe cognitive impairment is a “severe deterioration or loss in a) your short- or long-term memory; b) your orientation as to person, place, and time; or c) your deductive or abstract reasoning.”8 This deterioration must be measured by clinical evidence and standardized test. Another insurer might add the condition that the patient must be at risk of harming himor herself or another person, hence requiring substantial supervision.
option. That’s why I have written this book. Further, the vast majority of insurance representatives are honest, thoughtful salespeople, guided by the National Association of Insurance Commissioners’ Code of Conduct for marketing longterm care products. Most insurance agents see their task as educational, to inform consumers about the exposure and actual expenses they might face in their very old age and then to suggest reasonable solutions. The insurance industry knows that, in the last
maker’s online catalog because you couldn’t try on the sweater, it seems foolish to choose a long-term care policy without expert, face-to-face advice. Take a look at Quotesmith.com, an online insurance site that is now offering long-term care insurance quotes. The complexities of the policy and the comprehensive underwriting involved will be obvious the ﬁrst time you log on. Question number 5, the one that asks about your medical history, is a perfect example. In tiny font, you are presented