John Hancock to Re-enter California Individual Long-Term Care Insurance Market
BOSTON, Feb. 1, 2012 /PRNewswire/ --Â John Hancock today announced that its individual long-term care insurance would be available in California, beginning February 27, including both its new California ...
Should You Buy Long-Term Care Insurance? Maybe Not
Private long-term care insurance can be an important tool to protect against the risk of needing costly personal assistance in old age. But two respected financial economists conclude it is very expensive relative to the benefits it provides and may not be appropriate for many buyers. At the same time, a new consumer brief from the Society of Actuaries suggests how much wealth you should have ...
Long-term-care insurance is more expensive than it’s worth for some people
1 Determine if you qualify financially Don’t buy if the out-of-pocket cost for the coverage would be more than you can afford. Consumer Reports advises people that if their net worth, excluding their home, is below $300,000, long-term-care insurance is not a good buy for them. The National Association of Insurance Commissioners also recommends that consumers spend no more than 5 percent of their ...
Long-term care conundrum
About 70 percent of Americans over age 65 will require some type of long-term care (LTC) during their lifetimes. How can you protect yourself?
Tips on buying a long-term care policy
1 Determine whether you qualify financially. Don't buy if the out-of-pocket cost for the coverage would be more than you can afford.