Long Term CARE is expensive…LTC INSURANCE is not!
January 3, 2012 Long Term Care Leave Comment
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Long Term Care Insurance Protects Retirement Income!
June 17, 2011 Long Term Care Leave Comment
We all want a reason to not buy more insurance. We make that decision because we want to believe it will “never happen to us”. LTC is not about the risk on needing care…..the risk is small. It is the consequence of needing care… to your retirement income and your family that can be devastating. Are you reasonable enough to agree that it could happen? If you had to come up with $6,000- $8000 per month for care that allows you to stay in your own home…..where would the money come from? Would you have “extra” retirement income??
Long Term Care Insurance is a relatively inexpensive tool for suppling those funds. A couple in ther 50’s could custom tailor a plan that would provide basic, significant or fully comprehensive funding. It could eliminate the catastrophe and preserve your lifestyle. A basic plan can cost less than $2000 per year.
Why not find out more? Schneider & Shulman Associates will provide a customized quote showing all 3 levels of coverage and premium options. We do not charge or obligate for this information. Call us locally at 516 870-0800 or toll free at 1 877 843-9582. You can also e mail us at: info@ssltc.com .
We are General Agents for all the best companies (Genworth, John Hancock, Prudential, TransAmerica, Lincoln) and welcome calls from clients and brokers.
David Shulman, CLTC
Met Life Exits….Hancock seeks premium hikes
November 22, 2010 Long Term Care Leave CommentInterestingly enough these premium increases on older products indicate that LTCI is working! Claims are being made and paid. If you take any of these increased premiums and compare it to todays products at the current, inflated benefit and the original application age you will generally find that the old policy at the increased premium is still a “bargain”. Still as much as 45% under priced.
I admit that it is not good news to hear that premiums can and are increasing, but it is still the best protection for retirement income around. Hopefully todays products are priced more accurately and we can expect smaller or possibly no increases going forward….hopefully.
Look at the Whole Picture
September 28, 2010 Long Term Care Leave Comment
If you are already a special client of Schneider & Shulman Associates, then you know that the Long Term Care Insurance planning we provided, will protect your retirement income. We are pleased to inform you that we have expanded our services to include complete retirement and estate planning.
The new economy has produced some timely new planning tools and opportunities. We will review your current plans and make certain that you understand exactly what you have in place. It is a great idea to review existing life insurance policies. Because of all the new insurance products and features that have been introduced, we usually find ways of decreasing premiums and/or increasing benefits.
You can be certain that Schneider & Shulman Associates will save you and your family substantial money, or at the very least, confirm that what you already have is optimal. There is no charge or obligation to take advantage of this review.
Call David or Jay to set up an appointment. We promise that you will find this worthwhile.
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Schneider & Shulman Associates
Life, Health and Long Term Care Insurance Solutions
Telephone 516 870-0800 Toll free: 1-877-843-9582
email: info@ssltc.com
website: www.ssltc.com
Long Term Care Plans…the time is right!
March 9, 2010 Long Term Care Leave Comment
Long Term Care Insurance Planning is important. Retirement keeps being moved further back because the economy has caused us to need more years of income to live the lifestyle we desire and our current assets and incomes have been affected. Now the focus is to protect our retirement income. If the cost of care at home is $200 per day now…based on projected inflation of 5% compounded we could need $540 per day for the same level of service. Long Term Care Insurance is cheap compared to that expense! A 55 year old can buy coverage anywhere from $1800 per year for a basic plan to as much as $4000 per year for a very comprehensive plan. The point is that “significant” coverage is somewhere in between and a good plan should be tailored accordingly. There are ways to save money:
- Premiums are age based….buy young (Don’t leave your 50’s without it!)
- Marital discounts can be as much as 40%.
- Preferred health discounts can be as much as 15%.
- Multi Life plans (3 or more applicants)can be discounted, offer simplified underwriting, and can be segregated.
- New combination plans include life insurance, leverage options…and guaranteed return of premium.
- State Tax credits are big. (NY gives a pure 20% credit for total premium paid!)
The new generation of LTC plans offer a refreshing variety of options to suit more needs. Cash alternative benefits are available and add new flexibility. State partnership plans have been updated and are now offering more levels of asset protection.
This is a great time to get in touch with Schneider & Shulman Associates. We are Long Term Care Insurance specialists and will answer all your questions and give you a range of benefits and premiums to consider. We will then help you design a plan that works for you. We do not charge for this service….its free. We are General Agents fo the top providers including: Genworth, John Hancock, MetLife and Prudential. Call us toll free at 1 877 843-9582. Or visit us on the web at www.ssltc.com or email us at info@ssltc.com.
What is new in LTC Planning?
March 18, 2009 Long Term Care Leave Comment
Long Term Care Experts should constantly be aware of LTC products and features that work best in this trying economy. Today many people are holding cash and waiting to see where and when the market settles. The return on cash is practically nothing. Lincoln MoneyGuard is a product that allows one to reallocate this cash and leverage it for possible long term care expenses. For example, a 58 year old female can deposit $100,000 into a MoneyGuard plan and have $611,943 available to her as an LTC benefit. (That’s leverage of more than 6X’s) If she dies before using that money, her beneficiary receives a guaranteed minimum death benefit of $203,981. (That’s leverage of more than 2X’s) Now you naysayers are saying what happens to the money if no claims are made and she wants it back? Guess what…full refund. That’s right…if she has a better use for that cash, she can have it back in full.Next item of interest is that inflation options on traditional LTC plans have increased in variety. Most companies offer 5% simple and 5% compound inflation options. Now we can offer 3%, 5% compound capped at 20 years, and most recently; CPI compound. John Hancock’s CPI compound inflation rider provides annual increases in benefits based on the Consumer Price Index (CPI). Therefore if we ever see double digit inflation…the client is covered and the benefit is increased by the CPI increase. This flexible option is less expensive than the traditional fixed 5% compound option and ensures true value regardless of inflation.
Finally, updated group products have entered the market and they have easier qualifications and underwriting concessions as well as significant discounts. Business owners can discriminate and are not required to offer this company benefit to all employees. The tax benefits can be substantial and LTC is finally being valued as a true employee benefit.
Schneider & Shulman Associates is determined to have the most creative Long Term Care plans available to you. We represent all of the major carriers and can tailor a plan that provides the retirement protection you need for you and your family at a cost you can live with.
Call us toll free at 1 877 843-9582 or 516 870-0800 for a FREE consultation.
Or visit us on the web at SSLTC.com
The Economy and Long Term Care Planning
October 13, 2008 Long Term Care Leave Comment
Ok, these are uncomfortable times. The media and the economy have created a sense of withdrawal concerning spending. We all are trying to conserve our dollars and protect our assets and retirement plans. We worry that we may not have what we planned to have. So we think of ways to plan for these changes. Maybe we plan to spend less, or delay retirement, or keep the present car a little longer. But here is a question that we do not want to consider, but must: What would the consequences be to my family and my finances if one of us need care for an extended period of time? This is not about the risk of needing care; it is about the consequences.
You may never need Long Term Care, however; the consequences could be so financially and emotionally devastating to your family, that it must be considered. You need to have a plan. Most often Long Term Care Insurance is the least expensive way to finance that plan. A couple in their 50’s could pay as little as $2,000 per year to have a total benefit of $432,000 available for care. That would certainly be better than taking $432,000 from your income or assets.
Schneider & Shulman Associates are Long Term Care (LTC) specialists. We will custom tailor a plan that is right for you and then find the company with the lowest rates for that plan. We represent only the best companies including: Genworth, John Hancock, MetLife, Allianz, MedAmerica and Prudential. We provide the absolute lowest rates that each company offers.
Call us toll free at 877-843-9582. We offer a FREE consultation by phone, with no obligation. Schneider & Shulman Associates will provide for FREE a comparison of plans and quotes specifically customized for you. Visit our website for more information: www.ssltc.com.
Free Quotes are Ok, but…..
September 15, 2008 Long Term Care Leave CommentSchneider & Shulman Associates are Long Term Care Insurance experts and if all you want is a quote…then yes we can provide that. But….as true experts we think you can do better!
If all you want is a quote, then my advice would be that you should already know exactly what your plan is and how much coverage would be appropriate for that plan. If you do not have that information, it is almost like considering buying a car for $10,000 and not having any idea what that car is.
If you are truly interested in learning about Long Term Care plans, then Schneider & Shulman Associates will be happy to spend as much time as you need providing all the information you need…and we do that for FREE also. Our experts are patient, knowledgeable and experienced. We promise you will be well advised…even if you do not know what to ask.
Then once you know enough to formulate a plan that’s appropriate…we will provide premiums and comparisons of only the best insurers to finance your personal plan. The companies we represent are: Genworth, John Hancock, MetLife, Prudential, MedAmerica, and Allianz.
Let us show you what we know about protecting your family and your retirement.
David Shulman & Jay Schneider…..speak to an expert! Call us toll free 1-877-843-9582 or In New York: 516 870-0800
Defining Long Term Care Correctly
September 9, 2008 Long Term Care Leave Comment
David Shulman, CLTC
I was playing golf with 2 intelligent gentlemen in their 50’s who asked me what I do. When I told them I am a Long Term Care Insurance Specialist, each of them offered their own impression of what Long Term Care is. The first said his parents have “it” in case they need to go into a nursing home. The second gentleman commented that it was for older people who cannot take care of themselves.
I realized that many people do not actually know what Long Term Care planning is all about! Simply stated:
Long Term Care Insurance is a planning tool that allows you to pay an affordable premium to protect yourself in case of an unaffordable catastrophic event.
You may never need Long Term Care, but if you do and you’re unprepared, the consequences to your family and retirement portfolio can be catastrophic.
Long Term Care Is Not Medical Care
Almost everyone believes the chances of ending up in a nursing home are remote. But please don’t confuse that with growing old and needing care. Different from medical care, Long Term Care assists a person with normal daily activities they can no longer manage. Whether your need is due to age, injury or disability, Long Term Care Insurance provides daily and/or monthly benefits to pay for the necessary care not generally covered by health insurance, Medicare or Medicaid.
It is true that Long Term Care (LTC) Insurance will pay for nursing homes, but that is the one place most of us would never want to be. Actually, LTC insurance can keep you out of a nursing home by providing funding to hire someone in your own home.
Benefits are triggered by the inability to perform two or more activities of daily living (ADLs): toileting, bathing, dressing, eating, transferring (getting from one point to another without falling) or continence. A cognitive impairment, which can include problems with memory, perception, problem solving and conceptualization, can also trigger benefits if it leads to a requirement for substantial assistance. Your own doctor is the one who certifies that care is needed.
Preserve Your Lifestyle and Well-being With Long Term Care Insurance
Schneider & Shulman Associates encourage you to consider Long Term Care Insurance as a means to preserve your lifestyle, your estate and your family’s well-being.
Call us for free information toll free at 1 877 View LTC ( 1-877-843-9582) or visit our website: www.ssltc.com
Links to Other Articles
September 3, 2008 Links to other articles Leave CommentSchneider & Shulman Associates come across articles written by others that we find interesting. Some we agree with, others we do not. Take a look and decide for yourself. You can comment on or question anything pertaining to Long-Term Care Insurance Planning issues right here on this BLOG. Or you can call us toll fre at 1-877 View LTC (1-877-843-9582) Visit our Website www.ssltc.com
NY Times 10/24/08 Great Article about Baby Boomers and LTC Planning!: http://www.nytimes.com/2008/10/23/business/retirement/23CARE.html?partner=permalink&exprod=permalink
Time Magazine Covers Long Term Care: This is a good article that discusses the benefits of buying Long Term Care Insurance at Younger Ages:
http://www.insurancenewsnet.com/article.asp?n=1&innID=846364408
note: See our advice regarding When The Best Time is To Buy LTC Insurance:
http://www.ssltc.com/blog/?p=48
Jean Chatsky discusses when to buy Long Term Care Insurance:http://www.msnbc.msn.com/id/26411560/
US NEWS and World Report Article on When to Buy Long-Term Care Insurance:
This article by Emily Brandon has sparked strong responses from professionals (including me) and actual policy holders and families who disagree….check out the reponses/comments as well:
http://www.usnews.com/blogs/planning-to-retire/2008/09/02/the-best-age-to-buy-long-term-care-insurance.html
Here is a blog from Caring.com on What age to buy LTC insurance: http://www.caring.com/questions/when-is-it-the-age-to-buy-long-term-insurance
Kiplinger Article on Deducting Long Term Care Premiums: http://www.kiplinger.com/columns/ask/archive/2008/q0814.htm
Don’t Let Price Increases Scare You Away From Long-Term Care Coverage 9/14/08 “The Street” By Terry Savage: http://www.thestreet.com/story/10437227/1/dont-let-price-increases-scare-you-away-from-long-term-care-coverage.html