How to Guarantee a Lifetime of Long Term Care Benefits for Half the Cost

Here s how to make sure your long term care is taken care of for the rest of your life, guarantee that you will never run out of money and not disinherit your kids.
A tall order, you say. Yes, but in certain situations all three of these can have a happy ending. Here s a more than typical scenario
Ruth is 88. She has been diagnosed with moderate Alzheimer s. Other than that, she is in pretty good health for an 88 year old. Her doctor tells her she ll live to 100.
Ruth has two children. Ben is an attorney and lives way across the country. Ruth has been living with Karen, her daughter, and Karen s husband and three grandchildren. Ben has already set up the paperwork and has power of attorney over his mom s affairs. He has been handling her finances for the last couple of years from afar and that has worked out fine.
Ruth has become more forgetful recently and that has become more of a concern for Karen. On top of that, Karen just got a promotion that will entail her traveling out of town one or two days a week. She doesn t feel it is right to shift the rising care needs of her mom to her husband while she is gone. Bottom line: Everyone feels it would be better to move Ruth into a health care facility where she can be effectively cared for. Even Ruth agrees as the last thing she wants to do is be a burden on her family.
So Ben puts a pencil to Ruth s financial situation. Here s what he comes up with Ruth has about $450,000 of assets. Most of it came from the sale of her home which she lived in for 45 years. She has $800 a month coming in from Social Security and $1,200 a month from the telephone company pension where she was an operator for 35 years.
Karen has found the ideal care facility for her mom. It is close to their home and it provides all the care Ruth would ever need for the rest of her life. The problem is that it cost $5,000 a month. So she is short to the tune of $3,000 a month.
But the problem goes deeper than that. Even though Ruth has assets totally $450,000, it s possible that she could eventually exhaust these funds. After all, other than Alzheimer s, she has no major problems. What if her doctor is right and she does live to 100?
Karen and Ben love their mother and hope she lives to be 120, but these are simply the economic realities. However, there is another problem. Ruth s life-long goal has been to be the one that educates her three grandchildren. It s pretty easy for her to see that dipping into her estate at the rate of $36,000 a year is not only flirting with her ability to educate the grandchildren, but it is affecting her other goal of leaving her estate to Karen and Ben.
Ben schedules an appointment with his personal financial advisor and explains the dilemma. The first thing they look at is an immediate annuity. Ruth s age would give her a good rate of return. The best quote to provide the $3,000 a month short fall for as long as Ruth lives comes back at $215,000.
The good news is that Ruth could live to be as old as Methuselah and the insurance company would send her a check for three grand a month. And $36,000 a year on a $215,000 investment is a 16.7% return on the money. Second, this preserves the balance of Ruth s estate for her wishes. $450,000 less $215,000 is $235,000. That should educate the grandchildren and leave a little left over for Ben and Karen.
The bad news is that is quite a chunk out of the total estate. And if Ruth falls and breaks a hip and dies next year, the insurance company keeps the $215,000. Ben s financial advisor tells him there are ways to set up different types of refund arrangements with the insurance company so the whole $215,000 doesn t go down the drain, but these options cost more.
Is there a more efficient way? Maybe, read on
Insurance companies issue what are called medically underwritten annuities. Generally there is no physical exam required, but the insurance company does take a look at the person s medical history. The theory here is that people with health impairments have a life expectancy lower than the average for the entire population of people the same age. So providing the same monthly benefit can be provided with less money.
That s exactly what happened when Ben s financial advisor put in an inquiry on Ruth s situation. $3,000 a month for life would take only $130,000. So the shortage of $3,000 a month was taken care of. Ruth won t ever run out of money. Now there is $320,000 to educate the grand kids and leave the rest to Karen and Ben. Nobody gets disinherited and Karen and Ben heave a sigh of relief knowing they will never have to use their own money to provide for Ruth if she lives as long as they hope.
Robert D. Cavanaugh, CLU is a 36 year financial and estate planning veteran and author of the free newsletter, The Estate Preservation Advisor . To subscribe and get the free video, How to Sell Your Life Insurance Policy for More Than the Cash Value , go to http://theestatepreservationadvisor.com/freevideo.htm



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Health Insurance 2

You can only win if they do not get sick, but sooner or later, you or a family member is ill and he faces enormous hospital expenses that could eat a good portion of their savings. You may not feel now because you are still very healthy and could really care less about your hospital bills and medical expenses. If you really do not want to incur huge hospital bills and other medical expenses, you must obtain a health plan to cover you and your family in cases of diseases and other medical emergencies. Even I believe that a health plan is nothing more than another type of spending can be done without. Remember that if you or a family member is ill and who have no health coverage, may lose much more money than what you paid for a sick plan.
Getting health is an inevitable event. You may not get sick now, but somewhere in the future, we may be hospitalized for one reason or another. It is always a good idea preface to future events. Actually there is no point in scrimping on costs when it comes to health if a plans.
Where obtain a health plan? Many insurance companies are offering health plans. To obtain a health plan, you must first buy everything and ask for information on services offered by reputable insurance companies. Always go for those insurance companies have good track record with regard to service delivery. Also, in gathering information, it would be a good idea to ask the insurance representative for more explanations on the products so you can fully understand their services. Now, once you have all the information you need, compare prices and services. You can always make the most of their money when compared prices.
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How To Get A Good Life Insurance Deal

After securing assures you of reliable friend giving you a helping hand to him during critical situations. Life insurance is a type of insurance, which assures you give payout and if someone in your family, who was a believer, and die. Good insurance package will save a lot of your money and also opens the door to the possibility of getting the maximum return or compensation insurance premiums your own. Buy a good insurance in the United Kingdom was a daunting task, because many companies lined to sell their insurance. Your little from the need to purchase insurance, and to assess the need for insurance to you, and can help you obtain insurance deal.
before good and you finally make your mind to buy life insurance, we must know the number of types of insurance available in the market. I had come to know the names of several insurance, which may be very confusing. But, basically, there are two types of insurance - and insurance and duration of everything. Understand that it may require, for example. Suppose, you need to secure the value of 100000 pounds sterling, and if you want to use a term insurance, you may have to pay 20 as premium. If you take advantage of everything else & 39;, you will pay 100 pounds sterling per month, it will cover all of your life insurance. While the duration of your life insurance will cover only the period during which remained stable while taking insurance. Suppose, if you& 39;ve got a package of insurance only for 20 years, your family will die unless the payout within the next 20 years.
the to consider while buying life insurance is where the buying. I had a lot to learn from the representatives of insurance companies is approaching you. But the best way is to buy comprehensive insurance for some research Territories. You can easily find many insurance companies on the Internet, which gives you the freedom quotations insurance. Check out where you can buy at competitive prices. Buy a good from the insurance company assures you a good insurance deal.
about author: Author is the writer specializing in the life insurance, auto insurance, breakdown cover many more.



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How to Find the Best Auto Insurance Companies With the Best Rates

Best car insurance Companies
There are a large number of companies d & 39; car insurance, the claim that the biggest, best, cheapest, so sympathetic, and so on. But what you really want to know, c & 39, is how a company can, if it is & 39; pay a complaint? Will you pay the full amount of the claim? Use the time to be paid? Go to all be paid?
Here like
1. Each state has a department & 39 d & 39; insurance, most ministries and maintain Web sites that a service for consumer complaints. Here you can find out how many applications have been submitted against a company and to compare with other & 39 d companies.
If your condition & 39, the insurance department do not have a website, you can in California, the site - www.insurance.ca.gov - click " Consumers & quot;, & quot; then & quot; studies and reports and complaints from consumers & ; amp; quot d & 39; studies to see the & quot; number of complaints of consumers have submitted to a private person company.
2. Jump to Epinions.com to know what & 39, is a member of the customers have to say. Here you will find notes and comments from real customers have relations with the companies d & 39; insurance and you can be a novelty to new facts, as they manage their claims.
Best d & 39; insurance -- Automotive Rates
The difference in the rate d & 39; between the insurance companies d & 39; insurance is amazing. A company " " May you $ 2000 for a policy, while the & 39; " Company B " They charged $ 1,100 for the same policy. C & 39; is a difference of $ 900!
The best way to find the best prices & 39; go is a comparison d & 39; insurance online. Here, you will be able & 39; receive a sentence of & 39, number of companies by filling out a simple questionnaire (see links below).
It only takes a few minutes and you get prices, the widely known, A-rated companies, and not bad d & 39; valuation of companies that you do not l & 39; never have heard of.
During l & 39; questioning, the police car & 39 l & 39; insurance for your needs and receive all the discounts, you& 39;re right. Tips about how d & 39, the maximum amount to receive discount on car insurance & 39; click on the link below and click & quot; Articles & amp ; quot; section.
Visit http: / / www.LowerRateQuotes.com or click on the link below to & 39; free car insurance price comparison A-rated companies to get rate discounts & d 39; vehicle insurance. You can further recommendations d & 39; insurance by reviewing their & quot; Article & quot; section.
The author, Brian Stevens, is a former staff member d & 39; Insurance and financial advisers, has written a lot about the way to find the best companies d & 39; car insurance.



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