KIRKLAND, Wash. — As longer-living Americans face escalating care expenses, “there’s a lot of ignorance about how to pay for it,” says Cameron Truesdell, CEO of LTC Financial Partners, the nation’s most experienced long term care insurance brokerage. “So it’s refreshing,” he continues, “to see authoritative advice from Kiplinger’s, perhaps the most respected financial publication in the nation.”
The Fall 2007 issue of Kiplinger’s Personal Finance features an article, “Insurance for the Long Haul – Elder-care Responsibilities Spur Boomer’s Interest in Long-Term-Care Insurance,” by Kimberly Langford. The article is so helpful, in Truesdell’s view, “we’ll be giving away free copies.” Truesdell’s organization has purchased a short-term distribution license from Kiplinger’s.
For a limited time, downloadable or print copies are available at http://www.ltcfp.us/kiplinger-article.
Why is the article so valuable?
– “It shows why people really need long term care insurance, to protect their assets and avoid burdening their children,” Truesdell says. For example, the article points to the current cost of $75,000 per year, projected to increase to more than $250,000 per year within 25 years, when many of today’s Baby Boomers are likely to need care, according to the MetLife Mature Market Institute.
– “The article also sets people straight about public assistance,” Truesdell continues. “In clear, concise language, it shows why only the truly needy should rely on the government to pick up the tab.” A section on estate planning explains the new Medicaid-reform law, which makes it much more difficult for people of means to appear destitute by giving assets away to relatives.
– “Although short, the article leaves nothing out,” says Truesdell. “It gives guidelines on policy variables such as daily benefit amount, waiting periods, length of coverage, new inflation options, when to buy a policy, and health as it affects eligibility and policy cost.”
As for where to buy a policy, “the article wisely advises sticking with the more reliable, established insurers,” says Truesdell. “They also recommend working with a broker that specialized in long term care insurance, to screen carriers and simplify the application process.”
Send2Press(R) is the originating wire service for this story – www.Send2Press.com
NEWS SOURCE: LTC Financial Partners