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Long Term Care Insurance Coverage Greeley CO

The long term care health insurance policy must state the conditions that must be met in order for benefit's to start. Here are some things to consider; which affect both when benefit's will be paid as well as how much benefit will be paid.

Colorado 1099 Contractor Health & Disability Benefit Solutions
(720) 317-3277
1813 85th Avenue Ct
Greeley, CO
 
Will Killhour III
501 South Cherry Street
Denver, CO
Company
Company: Waddell & Reed
Service
Income for Life/ Preserve Principal,Alternative Investments,Life Insurance,Investment & Portfolio Management,Investment Consulting & Allocation Design,Business Succession & Liquidation Planning,Estate Tax Planning,Asset Protection Strategies & Planning,Fee Only Portfolio Management,Pension for Highly Compensated Owners,Stock Market Alternative,Wealth Management,Health Care Insurance,Retirement Planning,Long-Term Health Care Planning,Annuity Ideas & Strategy Planning,Planning For Personal Finance

Data Provided by:
Scott Nelson, CFP
5445 DTC Parkway
Greenwood Village, CO
Company
Title: Certified Financial Planner
Company: Presidential Brokerage, Inc.
Type
Investment Advisor Rep: Yes
Education
University of Nevada, Reno / MS-Economics
University of Delaware / BS-Business Management
Years Experience
Years Experience: 24
Service
Portfolio Engineering,IRA, 401k, Roth IRA, QDRO Rollovers,CD Alternative,Alternative Investments,Life Insurance,Investment & Portfolio Management,Investment Consulting & Allocation Design,Insurance & Risk Management Planning,Retirement Income Distribution Planning,Education Funding & Financial Aid Planning,Fee-Only Comprehensive Financial Planning,Fee Only Portfolio Management,401k Rollover From Employer,Income for Life/ Preserve Principal,Wealth Management,Disability Insurance,Retirement Planni

Data Provided by:
Gregory Scott
16 Inverness Place East
Englewood, CO
Service
Disability Insurance,Annuities,Alternative Asset Class Planning,Investment Consulting & Allocation Design,Business Succession & Liquidation Planning,Estate Tax Planning,Asset Protection Strategies & Planning,Individual Income Tax Planning,Portfolio Engineering,High Yield Bank Accounts,401k Rollover From Employer,Income for Life/ Preserve Principal,Wealth Management,Medicaid,Life Insurance,Investment & Portfolio Management,Long-Term Health Care Planning,Annuity Ideas & Strategy Planning,Planning

Data Provided by:
OBGB, Inc.
(303) 443-9929
4565 Broadway
Boulder, CO
 
Sanders & Associtates
(970) 223-8809
3944 John F Kennedy Parkway Suite A
Fort Collins , CO
 
Gary Kennington
7015 West 62nd Ave.
Arvada, CO
Company
Title: Financial Retirement Specialist
Years Experience
Years Experience: 20
Service
Medicaid,Annuities,Insurance & Risk Management Planning,Medicare Planning,Life Insurance,Annuity Ideas & Strategy Planning,Asset Protection Strategies & Planning,Health Care Insurance,Retirement Planning,Retirement Income Distribution Planning

Data Provided by:
Don Leander, CFP
5145 Hopner Court
Colorado Springs, CO
Company
Title: CFP
Company: Financial Planning Strategies
Service
Mortgage Refinancing,IRA, 401k, Roth IRA, QDRO Rollovers,CD Alternative,Alternative Investments,Health Care Insurance,Retirement Planning,Real Estate Investment Planning,Annuity Ideas & Strategy Planning,Planning For Personal Finances & Budgeting,Retirement Income Accumulation Planning,Business Income Tax Planning,Fee-Only Comprehensive Financial Planning,High Yield Bank Accounts,401k Rollover From Employer,Income for Life/ Preserve Principal,Wealth Management,Disability Insurance,Annuities,Alte

Data Provided by:
Perry Neva
1427 Glencoe St.
Denver, CO
Service
Estate Tax Planning,Asset Protection Strategies & Planning,Individual Income Tax Planning,Portfolio Engineering,High Yield Bank Accounts,401k Rollover From Employer,Income for Life/ Preserve Principal,Wealth Management,Medicaid,Life Insurance,Investment & Portfolio Management,Long-Term Health Care Planning,Annuity Ideas & Strategy Planning,Planning For Personal Finances & Budgeting,Retirement Income Accumulation Planning,Business Income Tax Planning,Fee-Only Comprehensive Financial Planning,Capt

Data Provided by:
KAISER PERMANENTE- KEN CARYL
(303) 338-4545
7600 Shaffer Parkway
Littleton, CO
 
Data Provided by:

Long Term Care Insurance Coverage

Provided By: 

Long Term Care Coverage

When does this long term care health insurance coverage kick in?

This is the critical aspect of the long term care health insurance and something you have to understand clearly when buying it.

The long term care health insurance policy must state the conditions that must be met in order for benefit's to start. Here are some things to consider; which affect both when benefit's will be paid as well as how much benefit will be paid:

  1. You will want long term care health insurance benefit's to commence when you are unable to perform some specified number of activities of daily living. Usually, these would be due to restriction of mobility and commonly would include bathing, dressing, eating and going to the toilet on your own. There is also something called 'transferring' which includes your ability to move from place to place or from a bed to a chair for instance.
  2. You will want long term care health insurance benefit's to commence when you are suffering cognitive impairment. Now this condition is a tricky one. Some kinds of cognitive impairment are typically covered while others are not. Be sure you understand which are covered in your long term care health insurance policy.
  3. You will want long term care health insurance benefit's to commence when a health doctor certifies that long-term care is necessary. This may occur under a variety of circumstances, but your doctor will be able to evaluate this on an ongoing basis.
  4. In some cases, long term care health insurance policies will not pay unless you have a previous hospitalization. This condition is a tricky one and can mean that you will not receive benefit's unless you've first been hospitalized. Since many elderly may not require hospitalization, but may require a higher level of care for other reasons, you should ensure your policy does not have this stipulation.
  5. Your long term care health insurance benefit's could be paid from two years to a lifetime. Obviously, if your benefit period is shorter you might run out of coverage when you still require it. However, unlimited benefit's are very expensive. Your best bet? To select a coverage period of at least 4 years, which is less expensive than lifetime coverage, but longer than the average nursing home stay. This is playing the odds in your favor.
  6. You might want to consider a waiting period before long term care health insurance benefit's commence. You can actually keep the costs of long-term care insurance down by having a waiting or "elimination" period on your policy. This is the equivalent of a deductible. Your premiums will be lower in exchange for having to pay for the initial period out of your own pocket.
  7. You should have inflation protection if you are buying long term care health insurance and you are under 50 and in good health. This is a difficult choice for some, but you should consider it. If you are buying long term care health insurance at 50 you may not need benefit's for 20 yea...

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