Did You Even Think About Nursing Care Costs?
People who are trying to do a good job of making retirement plans were probably concerned about nursing care expenses. While you may have lots of strategies and long term care insurance choices, many people are ignoring the problem all together! There are, indeed, alternative ways to plan for this potential needs. I think that making some allowance for these high costs is part of a good long term care strategy.
You Might Consider Insurance Or An Alternative
Note that I did mention that alternatives exist. Buying a nursing care policy may not be the best choice for everybody. You may consider some of the choices on the following page:
http://www.over50web.net/finance/pros-and-cons-of-long-term-care-insurance/
Some alternatives may be found with other types of insurance, like annuities or life insurance policies with riders for nursing care. Long term care insurance may have some national and state benefits and tax advantages you are not aware of.
Tuesday, July 17, 2012
Monday, August 23, 2010
Term Policies Over Age 50
Over 50 Term Policy Ideas!
Middle aged and retired people can still find some affordable term life policies, The cheapest way to buy a large policy is to choose a shorter term. Look at some of the reasons why older people may want to consider ten year term.
So what is different about term life over 50?
A younger person, in their 30's or 40's, is probably worried about long term financial goals. Many younger families have children at home and large mortgages to pay off on those homes! Those younger people are probably looking for longer policy lengths, and they may shop for twenty or thirty year terms. Younger people can usually find cheap rates. This works out ok for them.
But older people may be in a different situation. As we get older, rates will go up. However, it is clear that if we can purchase a ten year policy for much less than we can purchase a thirty year policy for? Why is this true. Insurance companies know that a ten year contract is less risky for them. So they can charge less for the policy.
You will also find that the price difference becomes a lot more signifigant for older people than it was for younger people. So it may be much easier for a 30 or 40 year old to decide to take a longer policy term than it is for an older person.
This may work out fine for you though. Consider your needs now that you are older. Your kids may already be educated, or at least they may be much further along. You may not need to support your kids for many more years. In addition, hopefully, you are a lot closer off to paying off your home mortgage. These are just some typical cases. You may have other reasons to consider.
You may be concerned about the future though. It is impossible to predict what your situation will be ten years from now. It is not, however, impossible to predict that any life insurance we want will be even more expensive. You get lower rates now. But you will have to accept higher rates if you want to buy another policy in the future.
You may also be risking your ability to qualify for some types of policies at all. If you should be less healthy in the future, you could be declined for a policy.
There is one alternative to consider. One common option is the ability to convert to whole life before the term expires. This way you can insure your ability to purchase permanent coverage later. This gives you lower premiums today, but also the option to leave the door open later!
There is not one right length or type of life insurance for everybody. However, if you want to save some money on a larger death benefit, a ten year term policy may be something to consider.
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Find some great 10 year term rates to get a lot of coverage at a lower price.
Ten Year Term Life Insurance
Permalink: Term Over 50
Middle aged and retired people can still find some affordable term life policies, The cheapest way to buy a large policy is to choose a shorter term. Look at some of the reasons why older people may want to consider ten year term.
So what is different about term life over 50?
A younger person, in their 30's or 40's, is probably worried about long term financial goals. Many younger families have children at home and large mortgages to pay off on those homes! Those younger people are probably looking for longer policy lengths, and they may shop for twenty or thirty year terms. Younger people can usually find cheap rates. This works out ok for them.
But older people may be in a different situation. As we get older, rates will go up. However, it is clear that if we can purchase a ten year policy for much less than we can purchase a thirty year policy for? Why is this true. Insurance companies know that a ten year contract is less risky for them. So they can charge less for the policy.
You will also find that the price difference becomes a lot more signifigant for older people than it was for younger people. So it may be much easier for a 30 or 40 year old to decide to take a longer policy term than it is for an older person.
This may work out fine for you though. Consider your needs now that you are older. Your kids may already be educated, or at least they may be much further along. You may not need to support your kids for many more years. In addition, hopefully, you are a lot closer off to paying off your home mortgage. These are just some typical cases. You may have other reasons to consider.
You may be concerned about the future though. It is impossible to predict what your situation will be ten years from now. It is not, however, impossible to predict that any life insurance we want will be even more expensive. You get lower rates now. But you will have to accept higher rates if you want to buy another policy in the future.
You may also be risking your ability to qualify for some types of policies at all. If you should be less healthy in the future, you could be declined for a policy.
There is one alternative to consider. One common option is the ability to convert to whole life before the term expires. This way you can insure your ability to purchase permanent coverage later. This gives you lower premiums today, but also the option to leave the door open later!
There is not one right length or type of life insurance for everybody. However, if you want to save some money on a larger death benefit, a ten year term policy may be something to consider.
------------------------
Find some great 10 year term rates to get a lot of coverage at a lower price.
Ten Year Term Life Insurance
Permalink: Term Over 50
Friday, November 9, 2007
What Does Your Presidential Candidate Think About Health Care Reform?
With 47 million Americans who do not have health insurance, and with health insurance and health care rates rising well above the rates our income grows, it should not suprise anybody that health care reform is emerging as the top domestic issue in the presidential elections. However, even after all the speeches and debates, it is still not always easy to figure out exactly what the candidates plan to do.
Fast, Safe & Free US Insurance Quotes
The Kaiser Network, a public health policy organization, now presents an open forum where candidates can be present their stands on this one issue. You can find a schedule of the candidates, and the video forum at the Presidential Health Forum. Some candidates have already conducted their webcast, and you can find them in the archive. Other candidates are scheduled to be broadcast, and you find that on the front page of the website too!
Only a couple of things are very clear to me. The health care crisis does not only affect the poor, but impacts the middle class too, especially those with health conditions that make it hard for them to find private health insurance when they do not have a group insurance plan. Those people who really need a health plan have a hard time gaining access! Even business owners are having a hard time with group health plan rates, and they have begun to step up and ask for some changes. So it is hard to see what part of American society does not have a problem with the current health insurance system.
Some Americans, those who obtain their heath insurance through a good group plan at work may not think they have a problem. However, I believe this is very short sighted. They have no idea how much their employer contributes to their health insurance plan, and they have no idea how long their current coverage will last. When Americans do become unemployed, and they need to pay for the COBRA plan, they are shocked. This is because they usually have to pay the full premium amount and not just the part of their health insurance premium they paid before.
I am a little cynical about the speed that any changes with a real impact will be handed down. For one thing, business owners, medical providers, and consumers all stand in different corners on the issue. I do have some ideas about attacking the really critical areas first, but none of the major players seem to want stand in the middle. They take their corner! But that is all the subject of a future article, so come back for more and add your relevant comments!
Meanwhile, if you are searching for affordable health insurance, be sure and compare insurance quotes with our fast, safe, and free online health insurance quote form!
Fast, Safe & Free US Insurance Quotes
The Kaiser Network, a public health policy organization, now presents an open forum where candidates can be present their stands on this one issue. You can find a schedule of the candidates, and the video forum at the Presidential Health Forum. Some candidates have already conducted their webcast, and you can find them in the archive. Other candidates are scheduled to be broadcast, and you find that on the front page of the website too!
Only a couple of things are very clear to me. The health care crisis does not only affect the poor, but impacts the middle class too, especially those with health conditions that make it hard for them to find private health insurance when they do not have a group insurance plan. Those people who really need a health plan have a hard time gaining access! Even business owners are having a hard time with group health plan rates, and they have begun to step up and ask for some changes. So it is hard to see what part of American society does not have a problem with the current health insurance system.
Some Americans, those who obtain their heath insurance through a good group plan at work may not think they have a problem. However, I believe this is very short sighted. They have no idea how much their employer contributes to their health insurance plan, and they have no idea how long their current coverage will last. When Americans do become unemployed, and they need to pay for the COBRA plan, they are shocked. This is because they usually have to pay the full premium amount and not just the part of their health insurance premium they paid before.
I am a little cynical about the speed that any changes with a real impact will be handed down. For one thing, business owners, medical providers, and consumers all stand in different corners on the issue. I do have some ideas about attacking the really critical areas first, but none of the major players seem to want stand in the middle. They take their corner! But that is all the subject of a future article, so come back for more and add your relevant comments!
Meanwhile, if you are searching for affordable health insurance, be sure and compare insurance quotes with our fast, safe, and free online health insurance quote form!
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