Sep 8 2010

Disability Insurance for young people!

At some point in the race of each person, he or she should consider buying disability insurance. Unfortunately, most people are interested in purchasing disability insurance after experiencing a health problem or help a family member or friend who has experienced the financial impact and emotional disability. Apart from the difficulty most people have to believe that disability will not affect them, the cost of coverage also plays a role in why many people decide not to purchase coverage.

Fortunately, there are many options available to help young professionals to maintain the economic cost of coverage and allow them to put the coverage in force when they are young and healthy. One of the best strategies for young professionals to use is the table of level premiums. A premium table level can be found in many of the policies offered by disability insurance companies at the top in the market today. As its name indicates, a premium is structured to start with a low premium will gradually increase each year. The idea behind the purchase of a level premium policy is to keep premiums as affordable as possible for the first 2-7 years of professional courses in the workforce. The savings can be substantial in recent years, more is needed.

Since the premium continues to rise each year, it is recommended that the premiums for a standard conversion table for a premium table level within 5-8 years of ownership of the policy – standby time enough to establish a career and be able to handle higher premiums. The real advantage of buying a policy on the use of high quality graduates, is to enable young adults with low or moderate income to get coverage at a time would be healthy, they never will. In general, a person is healthy between the ages of 25-35, allowing the disability insurance much easier. A person in excellent health has a better opportunity to obtain coverage without exclusions or limitations for preexisting conditions.

Exclusions are a tool for insurance companies, allowing them to offer coverage for people who have diseases. When you have been treated with any particular condition or health care, it is likely that a specific condition without a disability insurance contract. In other words, the policy does not pay benefits for loss of income caused by the specific requirements of the exception. Is certainly a policy of exclusion is better than no policy at all, but politics are not the exceptions are clearly ideal. Disability insurance policy with the purchase, with premium quality young adult can buy a policy usually can not pay $ 100 a month just $ 20 or $ 30/month. This is much cheaper and therefore more young professionals to make policies that protect their future earnings. Graded Premium schedules are around and your Disability Income Specialist will be able to get the right one for you.

Aug 30 2010

Getting ready for Long Term Care Insurance (Part One)!

Most of us rely on Medicaid, disability insurance, personal savings and other resources to deal with the challenges of old age. We rarely – or not – think about the possibility of staying in nursing homes at some point in the future, because it only makes us more vulnerable to pain and anxiety. Almost everything in your life is insured be it your home, you car or any appliance everything has always a back-up plan to take care of it should anything untoward happen. Many of us fail to think about insuring ourselves, we are also similar to machines and other gadgets and something or the other could go wrong at any point of time, especially when one is old and susceptible to illnesses. For all those who need something for their old age, long term care insurance is the biggest gift you can give yourself.

There are many misconceptions surrounding Long Term Care Insurance and here are a few details of the myths and facts of this benefit.

Myth: People think that disability insurance will take care of their long term care requirements. Fact: It is absolutely false! Disability insurance and long term insurance is different to say the least and while the former supports you when you can no longer work and completely disabled. Disability insurance pays if you can not work due to disability; care insurance long term applies to care in a nursing home or center. In addition, most disability insurance ends when you turn 65, but typical insurance long term care comes into force after the age of 65.

Myth: Medicare / Medicaid to cover all costs in the long-term care to Medicare and Medicaid do not shoulder all the costs of all LTC if you are not impoverished. You must meet the poverty rate in order to contribute to Medicare.  The quality of care provided to Medicaid homes are not the same as the care is provided in private homes.

Myth 3: My kids will take care of me when I am old, if you are a parent; you might think you do not need insurance for long-term care because you have children who care. May be or may be not. Open your eyes to the reality that as children they will one day raise a family, and their focus will be on their own family and you would come second in their priorities. (Contd)