Long-Term Care Insurance - What to Do & What to Avoid

Long-term care financing and planning takes some thought and education to put together a policy that is best for you and your financial situation. It is easy to get confused and become paralyzed into "inaction." Here are some key points of what to do or not do.

Purchasing Too Much Coverage:

It is important to get some type of long-term care insurance without over insuring. Look at your finances and determine how much you can comfortably afford to pay for long-term care and co-insure with your long-term care insurance policy. Purchasing long-term care insurance can be compared to buying an auto. A Ford will get you to the same place as a Mercedes, but it will cost you much less. Having some long-term care insurance is better than not having any long- term care insurance.

Waiting Too Long:

You will not save money by waiting to purchase long-term care insurance at a later date. The cost for you today is less expensive than it will ever be. As you get older, the rates go up.

Inflation Protection:

You need to seriously consider 5% Compound Inflation Protection, especially if you are under 70 years of age. It costs more, but it adds all the value to your long-term care insurance policy.

A Sound Long-Term Care Plan:

It is necessary to learn what your options are in the event that long-term care is needed. Do you have the assets to cover the expenses and still live the lifestyle you desire? Where do you want to receive care? How quickly can you liquidate your assets? Will you lose money if you liquidate? What are the tax consequences? Do we have enough income to live on?

Impact on Family:

How will a long-term care event affect your family? What happens when a spouse needs care? Will this affect the work of the other spouse? Is the family capable of providing the necessary care? Can the children help? How will this affect their work and family?

Medicare:

Many think that Medicare will cover all of the costs of long-term care. This is not true. It covers some very limited costs that meet Medicare's criteria.

Comparable and Competitive Quotes:

Some companies are more competitive in relation to age or health status. Long-term care insurance quotes should be compared from at least three of the top companies. Different companies have unique "sweet spots" depending upon age, marital/partner status and health

Long-Term Care Insurance Specialist:

Consult with a Long-Term Care insurance Specialist, an independent agent that stays informed of new plans that come into the marketplace. A long-term care specialist can easily help you compare the different plans getting them closer to an "apples to apples" comparison.

Shopping by Price:

Getting the lowest price for a long-term care insurance policy is not the way to plan. The cheapest price may or may not have the options that you will need when you are ready to use your plan.

Top Carriers:

When getting long-term care insurance quotes from three different companies, it is important to check the financial ratings of the company. You should look for companies with at least A ratings.

Long-Term Care Costs:

You need to be informed of the real cost of long-term care (home care, assisted living, nursing facilities) in your area. If you live in an expensive State, you will need to adjust your long-term care insurance benefits according to what the costs are in your area. If you are planning to retire to a less expensive area, then that should also be taken into consideration. Different considerations should be taken if you are planning on living overseas.

A Long-Term Care insurance specialist who represents the top companies can help develop an unbiased plan that is unique to you and your situation.

See Also : remortgage house refinance loans personal injury solicitors

Claim Negotiation - Beat the Insurance Company

Is there a correct way to a successful claim negotiation? Yes there is. But you must be willing to play hard ball. I am not kidding you. Insurance companies are the very best negotiators out there. They know the

rules, and they know when to break them. They understand the system, and they can and will take advantage of the unwary.

It does not matter if you are dealing with a personal injury claim, a health insurance claim, or the total loss value of your car. Insurance companies will use "dirty techniques" to get you to settle for the

least amount possible. For example, in the case of a total loss, they will cut your rental car early so you do not have a car to drive. The only way to get money to go find another car is to settle your total loss right then.

How can you handle a good claim negotiation? Or better yet, how can you play hard ball and beat the insurance company? The best thing you can do is to document in writing everything about your claim. If the insurance company contacts you and tells you that the value of your car is at most

$10,000, then you need to tell them to put it on writing. Everything the adjuster says must be on writing. This makes insurance companies nervous because you can always show that an adjuster has misrepresented the facts or the law and they can be suit for bad faith.

You can ask the insurance adjuster to follow up in writing. However, you can also write a letter stating the highlights of your conversation. You can also ask the adjuster for written evidence of what they

say is in your policy or is required by law. For example, you can write the following:

Ms. Adjuster, per our conversation today, you have stated that you cannot provide a rental car for

more than three days. Please provide the pertinent statute that states that. You also told me that per my policy, I had agreed to go to arbitration if you and I disagree to the value of the settlement. Please provide the exact policy language, noting page, paragraph, policy edition, and all pertinent definitions.

Thank you."

You are now binding the insurance company to its words. If you send a letter to the insurance company, make sure you send it certified or at least you get delivery confirmation; if you ever need to prove that you did send it, then you can do that with no problems.

Documenting everything with the insurance company is also an effective way to avoid the common technique of "changing adjusters." Insurance companies and their managers know when the "claim negotiation" is not going their way. They love to switch adjusters on you so you have to renegotiate

points that you have already settle on. Most insurance companies will tell you that the adjuster went on vacation, is ill, left the insurance company, or that they had to reassign the claim for some other reason. Although this could be legitimate, it is also very convenient. Be aware.

If you have everything documented, a new adjuster cannot just tell you: "well sir, I am sorry Bob said that he would give you $7,000 for your car, that is clearly a lot more than I would ever be able to give you, I can only settle for $5,500." If you do not have anything in writing, then you could have an uphill battle getting the value back to $7,000. But if you have this in a letter, you can show it to a lawyer, a jury, or the office of the department of insurance. You've got them!

The only way you can really beat the insurance company is by making sure everything is in writing, every negotiation, every law, every quote or estimate. This is the only way you can hold the insurance company up to their promises.

Recommend : refinance loans personal injury solicitors

Cheap Full Coverage Car Insurance

Do you know what it means to have full coverage car insurance? Having full coverage car insurance means you have more than just the minimum car insurance to "get by" in your state. With full coverage car insurance, you and your car are just that - fully covered and protected against anything that may happen to you or your car.

Obviously full coverage car insurance is going to cost more than the minimum car insurance requirements in your state. This is because you are covering everything. Because of the difference in cost, many car owners choose to purchase their state's minimum car insurance requirements rather than purchase a full coverage car insurance policy.

Nice solution, but it won't work for everyone. Some people, for a variety of reasons, are required to purchase full coverage car insurance.

So, how can you get cheap full coverage car insurance?

There are a couple of ways to get cheap full coverage car insurance. First, search, search, search! Don't just choose the first car insurance company you find in the yellow pages - use all available resources. This includes newspaper advertisements, classifieds, commercials, billboards, word-of-mouth, and the Internet.

Second, search for a car insurance company that offers discounts for various reasons. Some car insurance companies offer discounts for good driving records, your age, the kind of car you drive, and the number of cars on your car insurance policy. There are also insurance companies that sell more than one kind of insurance policy, and will offer you discounts if you purchase two or more insurance policies from them. For example, you may be able to get cheap full coverage car insurance if, in addition to purchasing full coverage car insurance, you also purchase a homeowner's insurance policy from the insurance company, too.

More coverage doesn't always have to mean more money. Choosing the right company and finding discounts can help you get cheap full coverage car insurance.

Related : aviation accident attorney personal injury solicitors refinance loans

Pay As You Go - Car Insurance?

We're all used to the concept of a pay as you go mobile phone, but now there is the option to apply the same principle to your car insurance. This latest type of insurance is a step to cut costs for younger drivers.

While it won't bring the premiums of a 19 year old down to the level of a 40 year old, it will help secure a substantial saving on their policy. Insurers are recognising that although drivers under 25 have a higher percentage of road accidents, not all drivers in this age group are unsafe or reckless.

Therefore, a driver in the high-risk age group can opt for a 'black box' - similar in principle to the ones used in aircraft - fitted to their car. This sends details of journeys to the driver's car insurance company, who can then work out the costs per mile. During the day, driving is relatively low-cost, starting from 5p per mile, in quiet times. During rush hour the cost per mile will raise, and the highest cost comes between the hours of 11pm and 6am, when the fee is a flat £1 per mile.

The aim of this is to prevent young drivers from using their cars late at night, which is when most accidents tend to happen. There is a fee for fitting the box, but for a young, safe driver the benefit of cheap car insurance will compensate for this. The average saving this type of premium can give is around 30 - 40%. To an age group traditionally quoted in the region of £2000 per year for insurance, that's an amount not to be scoffed at.

Of course, if you don't like the idea of a black box tracking your every move, you can always opt for taking a Pass Plus course, which can give you a similar discount. If you've already taken one of these courses, mention it next time you apply for a car insurance quote and you may be surprised at the difference.

Friends Link : remortgage house

The Only Way to Find Auto Insurance Discounts

How can you find auto insurance discounts in a world that that begs for money? It's no secret that the auto industry is hurting right now, even after the billion dollar bailout package was passed. You might think that high insurance rates come with the territory, but if that's the viewpoint you carry, then you might miss out on some considerable discounts.

What are some ways to find auto insurance discounts? For starters, consider the occupation that you are currently working. Insurance companies collect information about all types of people and notice various trends relating to choice of career. Naturally, full time drivers get into more accidents than the average office worker. Statistically speaking, engineers seem to get into fewer accidents than the average driver. In the insurer's mind, it is a fact that engineers are safer drivers. You can benefit from your insurance company's research report.

You can also receive auto insurance discounts based on your vehicle's safety features. Some cars are loaded with safety features; some of these might include anti lock brakes, automatic seatbelts and airbags. Some car models are built to survive collisions. You can't even compare an old model Mercedes Benz to a Kia! Bigger and longer cars are statistically safer than lighter, faster cars. That means a lot to an insurance company who might be stuck paying for high medical expenses.

Another option that may help you is to assume more risk when it comes to collisions. There are auto insurance discounts available for drivers that keep their deductible high. By agreeing to take on more responsibility for minor accidents on your own, you can save money on premium rates-rates that are partially based on minor collision damages.

Another way to increase your personal responsibility, which will also provide you with more auto insurance discounts, is to drop certain types of insurance coverage. For example, if you drop your collision insurance policy and keep basic liability, you can easily reduce your monthly rate by 50%-70%! If you drive an older model car then you don't have much to lose. The car is probably not even worth the amount you spend on full coverage insurance. Save your money and pay for repairs on your own.

Start comparing auto insurance coverage today by using an insurance comparison website! You may be able to find a policy that is fair, affordable and much less expensive than the policy you currently have!

Friends Link : personal injury solicitors refinance loans

Insurance Mercedes Benz - Mercedes Car Comparison Insurance Quo

Compare Prices on Mercedes Benz Car Mercedes insurance.tv www.car-insurance system we offer compared to find the highest quality Mercedes auto insurance at lower prices.



http://www.youtube.com/watch?v=HMrpHWm8stw&hl=en

Related : remortgage house aviation accident attorney

Insurance Research Determines the Ultimate Mid-Life Crisis Car

Recently a motor insurance company conducted some research into it's customers and was able to determine that certain age groups have an affinity to certain car types. This research was able to pigeonhole certain brands to age groupings partially because the particular age group was only able to get car insurance on that particular class of vehicle. Obviously the richer and later in life people get the more money they potentially have to spend on a car and its corresponding insurance.

With younger drivers, Fiat and Peugeot cars were most popular with the average driver age being 31 and 32. This is pretty much a given as smaller engine models such as the Fiat Punto and Peugeot 106 are popular first cars for many younger drivers and much easier to get insured on.

Minis were also popular amongst younger drivers with their average age being 33 years old too, the marketing of these vehicles tend to appeal to younger drivers too which may also contribute to the choice of vehicle.

More mature drivers choose the type of car you may already expect, being Volvos and Jaguars. One surprising statistic is that the Nissan Micra only had an average of 35, and in the motoring industry this is regarded as a car typically driven by the grey hair brigade. Larger older vehicles such as Jaguars have classic high cost parts which would cost a lot to replace and so car insurance on some of these older vehicles will be understandably higher.

Despite it's image in recent years of being the ultimate in celebrity excess, Mercedes-Benz has an average age much higher than the typical movie star and is considered to have the same age driver as the Jaguars and Volvos. This is something that stars like Britney Spears who drives a Mercedes SL500 and Jim Carrey, with a McLaren SLR, will no doubt be rather embarrassed about.

But the most obvious result from the insurance survey is what car type tops the list of the mid-life crisis crowd, the Porsche. Porsche cars like the 911, Boxster and Cayenne all have an average age of around 39. As the old saying goes, if you know you've hit your mid-life crisis when you buy a guitar, get a girlfriend half your age or buy a Porsche.

So in this research the insurance companies have found some drivers fit their stereotype but interestingly some did not. Obviously there will be some that don't follow the trend and will have a different car but more and more we are seeing people buying cars that will get them cheap car insurance as opposed to turning heads on the high street.

My Links : personal injury solicitors