Update: Colorado Long Term Care Partnership
What is the Partnership? It is truly a win-win-win agreement between the citizens of Colorado, the State of Colorado and participating insurance companies. Read more. |
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Simple or Compound Inflation Protection?
Over the past five years, the cost of care in assisted living and nursing homes has increased by about 5%- 6% compound per year. Home Care has increased by about 2% compound annually. What will costs be in the next five years? Ten years? Twenty years? I know that costs will be higher...but by how much? For long term care insurance policies, 5% compound is the gold standard for growing the daily/monthly benefit and pool of money.
But 5% compound has become increasingly expensive. This as insurance companies have realized their risk of benefits that double every 15 years. More of my clients are now selecting 3% compound inflation protection as a way to hold down policy premiums. Click here to see a table that compares 3% simple, 3% compound, 5% simple and 5% compound inflation protection and costs. |
The Word Spreads...
The Planning for Long Term Care eNewsletter article, "New Short Term Care Insurance" has been picked up by the Prime Time for Seniors newspaper. I have been told the article will appear in the July, 2012 edition. Prime Time for Seniors is a free monthly print newspaper that is widely distributed at location throughout Metro-Denver.
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