Aging is no fund but a recent study showed that seniors who were active with music and singing had lower rates and progression of Alzheimer’s which is the number one cause for needing Long Term Care. It seems that the music activates the left side of the brain which memories are kept stimulating the brain and somehow fighting off affects of Alzheimer’s.
I have always been involved with music heavily but I still worried that as I aged I might need Long Term Care so I decide to research Long Term Care Insurance for found a company called LTC Tree who was familiar with the music and Alzheimer’s connection. They helped me decide if I need Long Term Care Insurance by mailing me Long Term Care Insurance quotes. Once I had them I put in my Beethoven’s 5th and started to read.
I had some questions on theLong Term Care Insurance so I emailed them.
My husband and I have been reviewing the info. you sent to us, and we have some questions. As part of our research, we also requested some cost comparisons through a rep. from the another website. He gave us info. a/b the Mutual of Omaha MutualCare Custom Solution Plan with a 40% cash benefit of HHC and $200,000 pool of money per person in addition to the traditional Secure Solution Plan that has a 30% cash benefit. Is the Custom Solution (in your professional opinion) something that should be considered highly beneficial, unnecessary or somewhere in the middle? As well, the Custom Plan seems to include an inflation protection buy up option not offered by the other plans. Pros vs. cons?
In terms of the companies listed in the side-by-side comparisons you provided, have they all gone to gender based pricing? Should I assume this is why there have been such high rate increases with many LTC plans?
Long Term Care Insurance quotes questions:
1) We’ve been selling the Long Term Care Insurance companies we sent since 1999 and to-date I’ve never had a claim with Mutual of Omaha where the person used the cash benefit. The reason is when people need care they don’t need 40% of their benefits, they need close to 100% of not all. That rider is a non-even in my opinion.
2) The Long Term Care Insurance inflation protection rider is the “engine of the care”. By far the most important factor because it will determine how much money you have to spend when you’re most likely to need it. The only way to go in my opinion is to have an inflation rider that grows automatically and not any type of future purchase option because that version will base the new rates on your new older age at the that time. 3) All are penalizing you for being female except Mass Mutual Long Term Care Insurance. That’s one of the reasons they are the best deal in now. They might move to gender based pricing down the road, but you’ll be grandfathered in if you were to apply before they roll out their new product. 4) Yes, JH does pay double for accidents. 5) We’ve processed claims with all over the years and I’ve not seen a difference in any of them. They all are blue-chip level companies that pay claims when filed. 6) Monthly benefits give you a bit more flexibility for home care in theory in that you can go over your daily speed limit. However, if you are taking out more per day than you daily max you’ll run out of money before month’s end. The Mutual of Omaha quote we sent automatically has that feature and the others you can add it for 2-5% more. I personally would not and say save the money for the above reason. 7) Lastly, I think Mass Mutual Long Term Care Insurance the clear play here because they have the best rates and are the only company that has never raised rates on old customers. No coincidence, they have the highest financial strength ratings. If I recall you found us from Clark Howard and Mass Mutual is on his “honor list” and the others except Genworth are just “honorable mention” for what it’s worth. J I’m around all week for more questions, thanks!