Tuesday, September 25, 2012

Genworth Long Term Care 40% Spousal Discount in Select States

Back in July Genworth has some major changes to their long term care insurance Privileged Choice Flex product, to include reducing their spousal discount from 40% down to 20%, however this does not effect all states. The states where you can still get this very nice spousal discount of 40% include AK, CA, CO, DE, DC, IL, IN, IA, KS, KY, ME, MA, MS, NE, NV, NJ, NY, NC, OH, SC, UT, VA, WA, and WY. The CA Partnership, IN Partnership and NY Partnership still also offer 40%. Take advantage of this discount today and request a Genworth long term care insurance quote at http://ltcinsurancethatmatters.com/long-term-care-insurance-inquiry.htm.

Monday, July 9, 2012

Now is a Great Time to Consider Purchasing Genworth Long-Term Care Insurance

If you were considering purchasing long-term care insurance in the past or you have been thinking about purchasing it, now would be a great time to do so! Below are some major changes that are taking place:


1.  Couples who purchase before July 27, 2012 will enjoy a “Couples Discount” of up to 40%.  New couples discount as of August 1, 2012 will be 20%.

2.  Individuals with exceptional health will receive a 15% Preferred discount prior to July 27, 2012 after August 1, 2012 preferred discount will be suspended.
3.  As of August 1, 2012 Lifetime benefits and Limited pay options will also be suspended.

Steven Zabel, the senior vice president for Genworth's long-term care
division gave this statement “Given the continued low-interest-rate
environment and industry dynamics, we are leveraging our extensive
experience and making changes to best position Genworth for greater
stability and future growth,” continuing, “These interim changes to our
products are designed to help moderate business flow with the
implementation of our new long-term-care insurance products next year.”

You can still take advantage of these money saving features until July 27th. Request a quote now!

 

Tuesday, June 19, 2012

Long Term Care Is all About the Family

Long term care is not only about the person needing care it is also about the family. LTC can take a huge toll on family - their way of living and financially because families are typically the ones who are responsible for providing the care physically and financially. Long term care insurance doesn't necessarily have to replace a family member from providing care but it can help, it can allow for the loved one to be cared for longer, better and with more dignity. Long term care insurance can be one of the biggest demands on a loved ones standard of living, it can help protect you by:

-Help relieve the financial burden on your family
-Help by paying the family caregiver
-Helps maintain financial independence
-Helps keep your savings and retirement

Plan today for your long term care future, it is a precious gift you can give to your family! Visit www.ltcinsurancethatmatters.com for more information.

Tuesday, June 5, 2012

Genworth Hybrid/Single Premium Long-Term Care Insurance Product

Genworth offers a hybrid/single premium long-term care insurance policy called Total Living Coverage (TLC), this product offers a different approach on retirement planning with combining a universal life insurance policy with long-term care insurance benefits. It offers "1 Smart Move, 3 Distinct Options" -

-Care if Covered - on average 6 times the premiums. If you have a LTC event, Total Living Coverage leverages the initial premium to pay for the expenses.
-Life is Covered - on average 2 times the premiums. If you don't need LTC benefits, Total Living Coverage pays an income tax-free death benefit to the beneficiary.
-Decisions are Covered - no regrets! If you change your mind and do not want the policy before the 15the 15th year is up, you will back at least your initial premium (less any benefits paid).

You might be wondering if a Hybrid long-term care insurance policy is for you. The typical buyer is retired or close to retirement, having assets more than $300,000 and they are self insuring the risk of needing long-term care. TLC will help cover long-term care benefits, help protect beneficiaries with an income tax-free benefit and it will free up assets. Coverage is customizable and provides certain guarantees! To learn more about Genworth single premium TLC visit www.ltcinsurancethatmatters.com.

Thursday, May 24, 2012

Genworth 2012 Cost of Care Survey Is a Big Hit!

Since the release of the Genworth 2012 Cost of Care Survey Genworth has had more than 182 million media impressions! Genworth has helped millions of people around in the country with their long-term care needs and the Cost of Care Survey is just one of their enriched resources they provide help agents and consumers nationwide.

The 2012 Cost of Care Survey has made many headlines including "Don't Grow Old Without It", "Expenses Continue to Mount" and "No One is Too Old Young (Or Too Old) for Genworth's LTC Mobile App," the media has been of great assistance in sharing the messing about the importance of long-term care planning!

You can visit the interactive map here .

Tuesday, May 15, 2012

Why Most People Don't Plan for Long-Term Care Insurance

There are roughly 313 million people that live in the U.S. and only about 8 million own a long-term care insurance policy, this is a pretty small percentage! So why is it that most Americans fail to plan for something that they have a 70% chance of needing after the age of 65? There are several reasons:

-Some people are not aware that long-term care insurance even exists
-Some think that it is included in their health insurance
-People think "this won't happen to me"
-They avoid the thought of needing care and loosing their independence
-They are provided with the wrong information about long-term care insurance
-Cost
-And one of the biggest misconceptions is that long-term care insurance is covered by Medicare

As you can see there are several reasons people don't purchase long-term care insurance. Probably the two most popular reasons are the cost and they think that Medicare will cover the costs of care. One thing I would like to point out is that long-term care insurance has so many different options when constructing a policy, so it is easy to make the necessary changes to fit into most budgets. It is better to have some coverage than none at all. And as far as Medicare covering the cost of long-term care services, this is far from the truth. Medicare is more for short term care, not long term, it will cover up to 100 days of skilled nursing care and home health care must be skilled care as well, which most home health care provided is from a home health aide or a homemaker service, which these are not skilled care. In addition, to qualify for Medicare long-term care benefits you must have at least a 3-day hospital stay before entering a nursing home. Medicare should not be a substitution for long-term care insurance.

If you have assets to protect it is wise to plan for long-term care with LTC Insurance! Visit www.ltcinsurancethatmatters.com!

Tuesday, May 8, 2012

Genworth's Caregiving Help and Advice Website

It is such a trying time when a loved one needs long-term care services, it difficult on all ends of the spectrum. For so many it is the parents that need care, the parents that have spent so many years caring for you and now it is your turn to care for them. When this happens most of us, we will typically have our own children we are caring for, in addition to a job, a house and all the other things that you have to care for on a daily basis. Trying to find the time and energy to care for a loved can be so difficult. Even though there is nothing know one can do to alleviate the need for care there are some reasources out there to help.

Genworth has a whole website dedicated to caregiving, it is called AARP Caregiving Help and Advice from Genworth. It is a national caregiving service dedicated to helping AARP members and their families find information, advice and guidance to support their long-term care needs, when your loved ones are receiving care. The website is https://caregiving.genworth.com/. There is lots of articles, how to's, checklists, learning about caregiving and long-term care, helpful questions and answers, assessment tools, care provider search, and much more!

Tuesday, May 1, 2012

What is the Long-Term Care Insurance Partnership Program

A Long-Term Care Insurance Partnership Policy will allow policy holders to protect or keep some of their assets if you have a long-term care insurance claim and need to apply for Medicaid after you have used up your LTC insurance policy benefits. Under the Partnership Policy the amount of Medicaid spend-down protection you receive is equal to the amount of benefits that were paid for your long-term care services from your private long-term care insurance company. For example, if you had a LTC Insurance Partnership Policy with Genworth and they paid out $300,000 in benefits for your care, you have exhausted your benefits and you needed further care so you applied Medicaid, you would be able protect up to $300,000 of your assets.

The Long-Term Care Insurance Partnership Program was originated in the 1980's with four state - New York, California, Connecticut and Indiana. In 2005, the Deficit Reduction Act of 2005 was developed and this allowed for all states to participate in the LTC Insurance Partnership Program, of which 40 states do participate in the Partnership Program. The intent of the Partnership Program is to encourage residents of their state to plan for their long-term care needs by purchasing long-term care insurance. This will allow them to get the care they need and further care from the state if they need it without having to spend down all their assets. This is also a benefit to the individual states as well, as it decreases the amount of Medicaid dollars used for long-term care services.

Long-term care insurance is designed to help protect your hard earned assets and the Partnership Program is a way to help you accomplish this! To see if your state participates in the  Long-Term Care Partnership Program visit www.ltcpartnershiponly.com, this is a great site to learn more about the program and to see what your options are in your state!

Tuesday, April 24, 2012

Genworth's Newest Long-Term Care Insurance Product - Priveleged Choice Flex

Privileged Choice® Flex is Genworth's newest product,  it gives you more flexibility to customize a plan to fit your needs, wants and budget and provides exclusive support services available now and in the future, plus a new guarantee on shared coverage. One of the main new features and benefits to this newer product is it offers.

Enhanced Shared Coverage - this provide a 50% minimum guarantee for the second partner should the first partner exhaust all the policies benefits. For example, if you have a 6 year shared policies and your husband uses all of the 6 years of care, on a most previous policies you would be left with no benefits. But with the PC Flex, you would have a minimum of 3 years for yourself.

There are several other features added to this new product that gives you more flexibility. To learn more visit www.ltcinsurancethatmatters.com.

Monday, April 16, 2012

Why Choose Genworth Insurance Company for your Long-Term Care Insurance Carrier?

Choosing a long-term care insurance company is an important decision and can be a tough one to make. You definately want to make sure that you choose a company that is reputale and has a wide range of flexible and comprehensive LTC insurance products. Genworth does just that!

Genworth has sold long-term care insurance policies for over 35 years and they insure more than 1 million people! They are a leader in the long-term care insurance industry!

  • They have paid more than $6.7 billion in LTC insurance claims
  • They are #1 in individual long-term care insurance policies in-force
  • They are #1 in individual long-term care insurance total policyholders
  • They offer a cost of care map nationwide
  • They offer several different products to meet individual needs
  • They are competitively prices
Genworth does stand above the rest and they have the history to prove it!

To learn more about Genworth long-term care insurance visit www.ltcinsurancethatmatters.com.

The facts came from the Genworth PC Flex Brochure.

Monday, April 9, 2012

Genworth 2012 Cost of Care Study for Long-Term Care Services

The new 2012 Genworth Cost of Care Survey by CareScout is now available. This will be Genworth's ninth year they have conducted a study nationwide of the cost of long-term care services. Some of the key findings in this study are:

  • Nursing Home, Semi-Private: Average cost nationally is $200 daily - with a 3.63% increase since 2011.
  • Nursing Home, Private: Average cost nationally is $222 daily - with a 4.23% increase since 2011.
  • Assisted Living Facility, One Bedroom: Average cost nationally is $3,300 monthly - with an 1.19% increase increase since 2011.
  • Adult Day Care: Average cost on a national basis is $61 a day - 1.67% increase since 2011.
  • Home Maker Services: Average cost on a national basis is $18 an hour - 0% increase since 2011.
  • Home Health Aide: Average cost nationally is $19 an hour - 0% increase since 2011.
According to the report, the cost of facility based care has steadily increased over the past 5 years, with about a 4.28% compound annual growth. However, the cost of care for home health care services has remained relatively the same over the past 5 years.

All of this information came from the 2012 Genworth Cost of Care Survey, to learn more and to see average cost of care in your city and state visit http://www.genworth.com/content/non_navigable/corporate/about_genworth/industry_expertise/cost_of_care.html

To request quotes and Genworth product information visit http://www.ltcinsurancethatmatters.com/long-term-care-insurance-inquiry.htm.

Tuesday, April 3, 2012

Personal Questions to Make you Start Thinking about if you need Long-Term Care Insurance

Long-term care insurance often can be a very difficult subject to hear about, read about or to discuss due to the fact that most of us don't want to think about ever needing it. But the truth is, is that there is a very good chance that a majority of us will need it one day, and really long-term care insurance is all about providing financial security and having the freedom of choice to decide where we want to receive our care. Some personal questions that might help you in deciding whether you might want to think about protecting your financial future and having the choice to decide where you want to receive care are listed here:

Have you had a personal experience with a family member?
-Have you ever had a personal experience with a family member who needed long-term care insurance?
-If so, where was the care provided?
-How was your family impacted physically and emotionally?
-How was the cost of the long-term care services handled?

How would you handle this if it were to happen to you?
-Have you thought about the impact to your assets and family members if you were to need long-term care one day?
-Where would you want to receive care? Most likely your home?
-Could you afford the cost of long-term care services?
-Would you family be involved in being a caregiver or to help out financially?

These are some questions that will probably get you thinking. If you would like to receive some pricing or learn more about long-term care insurance visit http://www.ltcinsurancethatmatters.com/long-term-care-insurance-inquiry.htm.

Thursday, March 22, 2012

Genworth Long-Term Care Claims Information

The most important part of long-term care insurance or any other type of insurance for that matter is when it is time for claim-when you actually need it! And you want to make sure that insurance company is going to be there when you need them! Genworth has over 35 years of experience, they have serviced long-term care insurance policies and paid over $7.7 billion in claim benefits (as of 12/31/11, according to Genworth.com). So when it comes time for someone to start their long-term care claim, Genworth knows the importance of providing their policy holders with meaningful support and answers to their questions about their policy, services and options available.

Genworth makes the process to start a claim pretty easy, it is all outlined at this link - http://www.genworth.com/content/tools_and_forms/claims/long_term_care_insurance.html.

Friday, March 9, 2012

Long-Term Care Insurance - Why Buy Something I May Never Use?

This question probably weighs on everyones mind that is thinking about purchasing long-term care insurance. But if you really think about it, do people really want to use the other types of insurance they have. Do they want to use their homeowners insurance because of a fire, auto insurance because of an accident, or collect on loved ones life insurance policy? The answer is no! No one wants to use these insurance policies but that does not stop any of us from owning them because it protects us from the risks of reality. The same goes true for long-term care insurance - there is too much financial risks for some of us not to plan for long-term care insurance. The costs of long-term care services can deplete one's assets entirely without the protection of LTC Insurance. Not to mention the potential emotional and physical burden we could place on our loved ones if they are stuck caring for us because we didn't plan properly.

Because this is a concern for many ,Genworth does offer a return of premium option on most of their long-term care insurance products. That way if someone were not to use their policy benefits then the premiums would go to their beneficiary. Or there is also the option of purchasing a combined long-term care insurance product that includes an annuity or life insurance. There are all great options for those who are cornered about never having to use their long-term care insurance policy.

For more information visit: www.ltcinsurancethatmatters.com!

Wednesday, February 29, 2012

Should you Purchase Inflation Protection on your Long-Term Care Insurance Policy

It is a known fact that the cost of things do get more expensive over time, including long-term care services. So it is important that you take into consideration inflation protection if you are thinking about purchasing a long-term care insurance policy. The decisions that you make when you purchase a long-term care insurance will effect how much the policy will cover when you actually need the insurance and nobody can predict what the cost of care will be in 30 years. This information will hopefully help you in making an informed decision on whether to purchase inflation protection and what level of protection.

An inflation protection option will increase the daily benefit as well as the pool of money of a long-term care insurance policy. Inflation protection does come at an extra cost. Here are some of the more common options for inflation protection:

-5% or 3% Compound inflation increases - This will increase the daily benefit as well as the pool of money by either the 3% o 5% from the previous years daily amount. This will increase the benefits of a LTC Insurance policy over time, 15 years to double for a 5% Compound level.

-5% Simple - This will increase the daily benefit as well as the pool of money by either 3% or 5% from the original daily amount. This will increase the benefits of a LTC Insurance policy as well over time, 20 years it will take to double.

-Consumer Price Index Increase - The daily benefit and pool of money will be recalculated each year based on the CPI, which has been an average of 2.5% from 2003-2009.  This increase will also increase your premiums when opted for the increase.

The cost of care has been increase on an average compound rate of approximately 4.5%.

Generally the 5% compound option is typically a better option for those who will keep their policy for a longer period of time, say under the age of 60 if it is affordable. If it is not affordable then the 3% Compound might be a better choice versus the 5% Simple. After 32 years of a policy being in force, 3% compound will outpace 5% simple.

CPI benefit increases is another option. However, medical costs do not follow the averages of other goods and services. In addition, CPI does fluctuate over time.

Purchasing long-term care insurance is an important decision in planning your future, by making a wise decision now will reduce the risk of your investments being spent on long-term care services.

Plan for long-term care insurance now! Visit http://www.ltcinsurancethatmatters.com/long-term-care-insurance-inquiry.htm!

Tuesday, February 7, 2012

Genworth's 2011 Cost of Long Term Care Survey Nationwide

Each year Genworth Financial conducts a Cost of Care Survey to help families get an idea of what long-term care costs in their particular area. This is a national study and you can click on your particular state to see the cost of nursing home care, assisted living care, home health and community based care where you live. This is very useful for those who are researching to buy long-term care insurance as well. This will give them an idea of what daily benefit would be good to start out with. For example, if you live in the state of FL and you are almost ready to purchase long-term care insurance but you are not sure what daily benefit to obtain you can look at this survey and click on FL and see the average cost of nursing home care is $76,777 a year and divide that by 365 days you would get $210, so you would probably want to start a daily benefit on your long-term care insurance policy at or around $210 with an inflation option.

The nation average costs of long-term care are listed below:

Homemaker Services: $18 an hour
Home Health Care Aide: $19 an hour
Adult Day Care: $60 a day
Assisted Living Facility: $3,261 a month
Nursing Home Care (semi-private room): $193 a day
Nursing Home Care (private room): $213 a day

This information came from the Genworth 2011 Cost of Care Survey. You can compare the costs of care across the US by clicking here - http://www.genworth.com/content/products/long_term_care/long_term_care/cost_of_care.html.