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Tag: long-term care insurance

insurance and finance

Insurance Must Haves for Baby Boomers

With the legislation that covers Medicare and Medicaid being constantly revised, baby boomers searching for comprehensive, affordable insurance might feel as if they are facing an uphill battle. Finding such coverage can be intimidating, but with the right search criteria, it doesn’t have to be. If you live in NJ you can use an insurance company that works with clients to create  personalized insurance checklist that itemize baby boomers’ individual needs.

When selecting a specialty insurance provider, baby boomers should consider the areas of life that protection is sough for —health or medical expenses, general life, loved ones, and even belongings. Baby boomers probably want to do this all at an affordable rate, without being taken advantage of. If you live in NJ you can use an local insurance company to guide a baby boomer through the steps necessary to insure all these elements and at an affordable rate.  They may even find some discounts that the policy holder didn’t know existed.

insurance and finance

Types of Long Term Care Insurance

Long-term care insurance plans were created to offset many of the rising costs that are associated with living longer.  Such costs may be related to medical care, including direct healthcare expenses, as well as expenses associated with long-term care facilities.  There are several types of long-term care insurance plans to address the needs of seniors who may need additional assistance in meeting their long-term care goals.  For those who would like to learn more about the top long term care insurance provider in NJ, here is a brief explanation of the types of policies that are available and how they work.

insurance policy

Types of Long Term Care Insurance

Our world is crammed full of statistics, and, a good many of them are related to our short-term and long-term health.  The latest surveys show that Americans are living longer.  Well… hooray to that factoid, and to know that we have a longer life expectancy might just fulfill our every dream and allow us to check off every last bucket list item.

But, the other statistics don’t paint such a rosy picture.  Even if you don’t have any health-related genetic issues, and are relatively healthy, it is logical to assume that the older you are, the more likely that long-term care is in the cards for you. Even if you are blessed with good health now, a chronic condition such as high blood pressure or diabetes, or even a history of lackluster diet and exercise habits, could severely debilitate you in later years, thus necessitating long-term care.

Did you know?

  • 70% of people who reach the age of 65 can expect to need some form of long-term care during their lifetime?
  • Women outlive men by about five years on average, so they are likely to be living solo in the home once their spouse has passed away?
  • Disability from an accident or chronic illness accounts for many needing long-term care? Between the ages of 40-50, 8% of people have a disability which might require long-term care services and after age 90, the percentage jumps to a whopping 69%.