Jerk owner surrender emaciated pup to the shelter, too weak to lift her head up anymore

What Do We Mean By Long-Term Care Insurance?

Long-term care insurance is a specific insurance product that is only sold in Canada, the UK, and the US and helps individuals to pay for care costs that exceed a pre-set period of time. It is oftentimes abbreviated as LTC or LTCi. In any case, this type of insurance covers what health insurance, Medicaid, and Medicare typically do not including your assets in certain situations. The key advantage that this type of insurance provides is that it alleviates the burden of your children having to take care of you the rest of your life.

In most cases, it is provided to those individuals who can no longer perform those activities and tasks that are required in everyday life. This includes:

• adult day care
• Alzheimer's facilities
• assisted living
• hospice care
• nursing home facilities
• respite care (interim, short-term care occurring prior to being admitted to long-term care)

It can also pay for in-home care should that be needed and in most instances, from the first day that it is needed. It also pays for live-in or visiting:

• caregivers
• companions
• housekeepers
• private duty nurses
• therapists

Additionally, coverage up to the maximum policy benefit is provided 24/7. So as you can see, the coverage provided is very comprehensive.

Why Is Long-Term Care Insurance So Important?

It is extremely important because of the above benefits that it provides the policy holder. However, it provides additional benefits as well, including:

It helps cover out-of-pocket expenses so the individual does not have to feel embarrassed or uncomfortable about their children having to care for them. Savings accounts can be quickly depleted if an individual or his/her family has to pay for those long-term care expenses.

In some cases, the premiums paid for the policy can be deducted on the person's income taxes. The age of the individual determines the size of their income tax deduction. Plus, the benefits paid by the policy can be omitted from the person's gross income.

The amount of premium deductions for businesses is usually determined by the particular type of business. Those premiums are usually 100% deductible for the corporation paying them provided they have not included them in the taxable income of the employee.

Just remember that without long-term care insurance, you (or one of your children or other family members) will have to incur all your expenses (up to $70,000 annually for nursing home care). If you don't have Long-Term Care Insurance then what assets will you liquidate when you need care? What if you need that care for 2-4 years? We are living longer and with better quality of life, due to great medical advancement, which means you may just want help at home. Home care is growing and preferred in most cases. Most of us will want to live in our own home as long as possible. At some point it may make life easier and lengthen the number of years we can live at home by simply having long-term care benefits.

When you are at a particular age, in most cases your future may seem to be insecure. You may actually want to negate this feeling. When it comes to financial security, a good and low-cost term life insurance policy, mainly designed for senior citizens, can be of great benefit for your life.

Some Details About Term Life Insurance for Seniors

First, it is the most common insurance policy for senior citizens. Secondly, the rates of these insurance policies are dipping day by day, making them easily affordable. Thirdly, senior citizens are a vital target audience to many insurance firms. Therefore, many insurers are inventing tailor-made strategies to fit the needs of the citizens. Fourthly, while an eighty year old person may be deprived of life insurance by approximately all the insurers, there are a few insurance firms which are still willing to provide a policy with very basic benefits subject to medical history.

The Key Merits

1) Affordable - the policy for senior citizens is cheap and affordable with the least premium, which other insurance policies cannot be able to offer. Many individuals consider it as an investment, the cash of which is very important to spare.

2) Purchase money - As a citizen, as harsh at may seem to be, does not have many more years ahead of them. The last thing an individual would want is to be a burden to someone else, and it does not matter even if it is his or her own family. This is what makes him prefer taking a term insurance cover. On taking such a cover, you are 'purchasing money' to be used for your own needs, which may arise during the course of your lifetime or even after that. Once this cash matures, it will take care of the medical expenses that are likely to come up, as well as the post death expenses like funerals.

3) Property planning - Most term life insurance covers for senior citizens are cheaply acquired. If you have a place where you can get some income even at your age, for instance a pension plan, there is no way you cannot afford a term cover. One of the most common reasons as to why senior citizens choose this cover is to plan and hand over their belongings or estate to the following generation in their family without any problem.

4) Death benefits - You can get death benefits, which are determined by the time one spent buying the cover. The benefits of death are subject to the age at which you buy the cover and statements put down on the medical history reports.

Marigold's story is so similar to many others. Her owners reached out to the shelter to pick her up as they choose to surrender her to the shelter. The owners reporter they had a traveling vet come out and treat her. They said she was given some injections and antibiotics, but NONE of this makes sense.

However, day after day it is the same story. It is the same excuses and continues to happen over and over! Marigold's condition is improving. She is stable, but she has severe demodex mange with a secondary infection. She is receiving IV fluids and antibiotics as she is slightly anemic and heartworm positive. She is emaciated but eating small meals throughout the day and keeping it down. Baby steps :(

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Choosing the Term Life Insurance for People Over 65

Life insurance for people over 65 offers peace of mind to the policyholder. The plans provided by most leading companies seek to offer a cover for the term or whole life. In case of the term life insurance cover, the benefits are normally paid upon expiry of the term or death of the policyholder - whichever happens first. On the other hand, the benefits of the whole life cover are paid out upon the death of the policyholder. The cash sum can be used to assists towards funeral expenses. The benefits can also be used to cater for outstanding bills or left as a small gift for the loved ones. The steps to follow when choosing the term life insurance for people over 65 include:

1.Getting in a better shape

It is important that you are healthy because the healthier you are, the lower the life insurance premiums you get to pay. You should consider quitting smoking, losing some weight, checking your cholesterol levels and blood pressure. Making efforts to get into a better shape is likely to lower the costs of the monthly insurance premiums.

2.Shop for insurance

Considering that there are many insurance companies available in the company is important to find the right company. It is necessary to make every effort to shop for insurance; this way you will avoid choosing the first insurance company you come across- as a result, ending up paying up more premiums than is necessary. In addition, failing to shop well is likely to lead you to purchase a policy that is of poor quality. It is beneficial to consider working with an agent that represents many leading insurance providers as opposed to a single company.

3.Compare quotes

It is advisable to obtain several quotes from leading insurance companies to help you make the right decision. In case a broker claims a particular policy is best for you, you need to be somewhat skeptical. This is because some brokers seek to sell you an expensive policy that you can hardly afford. They are likely to fit you in a cover that is unsuitable to your financial situation.

4.Find the right coverage

To avoid losing money on bad insurance deals, make sure you buy an insurance policy with enough coverage. You need to ensure the benefits generated upon expiry of the policy will be enough to cater for different needs including outstanding debt and college fees for the children or grandchildren. The cover should also be in a position to take care of the medical and funeral costs.

Everywhere you turn for information, you are led to believe the long term care insurance industry is changing dramatically. Many authors and information outlets advocate the changes are sweeping and dramatic and we should fear the change. I believe change is nothing to fear.

The truth is, although there have been changes in the industry, the basic understanding and purpose of long term care insurance has remained unchanged. It is an asset protection tool designed to help people enjoy freedom of choice, transfer risk (like health, disability, and auto insurance), and pass assets to family or charity rather than giving them to a corporation who owns a long term care facility or agency.

This is a subject that requires careful consideration and planning. Receiving advice from an inexperienced professional could cost you and your family hundreds of thousands of dollars during a time your family could need it most. Very few professionals truly understand the subject, the potential negative impact on a retirement plan, and the effects a family will endure paying for long term health care on their own. In my opinion, even fewer professionals understand how to effectively design a policy congruent with their clients' goals and budget. Furthermore, many do not understand the value of shopping coverage throughout the marketplace, which can result in clients paying more for their coverage than they really need to.

As a consumer, you need to focus on the things that have been important in the past. Long term care insurance policies still continue to cover home health care, adult day care, assisted living care, nursing care, hospice care and respite care. There are still only 5 options you need to focus on when considering coverage. Your premiums are waived when you are approved for a claim and your premiums are based upon your age and health when you apply.

Some recent changes that have been instituted have received sharp criticism. Gender based pricing is one of them. Actuaries in the industry now have more data on the statistical differences of when and how men and women receive care. Some folks feel this is discriminatory, I feel it allows the companies offering these plan to price the plans more accurately based on the person applying. Therefore, it may help the insurance companies with rate stability in the future.

All in all, the LTCi industry is no different than any other insurance industry. It is constantly evolving and getting better. The health, life, and auto insurance markets continue to evolve as well. However, sometimes change requires time for people to get comfortable with the new normal.

That being said, many of these so-called professional salespeople recycle myths I've heard for a decades either out of ignorance, greed, or conflict of interest. Good people fall for these myths every day and it affects their ability to make the best decisions about how to protect their assets for the benefit of a healthy spouse, kids, grand-kids, and/or charity.

Some of those myths include long term care insurance is too difficult to understand, has too many options to choose, is too difficult to get a claim paid, doesn't pay their claims, is in turmoil or that you can pay for care on your own? If you are considering a long term care insurance plan for your family then you owe it to yourself to learn the real truth.

1 Response to "Jerk owner surrender emaciated pup to the shelter, too weak to lift her head up anymore"

  1. Precious soul,how is she doing? I'm un Virginia,wish I was closer to help,prayering for you baby.😔

    ReplyDelete

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