Long Term Care Financing

2025 words - 9 pages

Intro Sample...

Long-term care is defined as medical or non-medical care provided to those who have chronic illnesses or disabilities. This care meets health or personal needs such as the activities of daily living. These activities include such things as bathing, eating, dressing and using the bathroom facilities. Care can be accessed in assisted living facilities, nursing homes, community or in the person’s home. Long-term care may be needed at any age.
Long-term care may never be needed. Nine million men and women over the age of 65 will need long-term care this year. Twelve million will need care by the year 2020. Most of these individuals will receive care at home. Seventy percent of the elderly are cared for by family and friends. A... View More »

Body Sample...

You will still be responsible to help offset these costs. (www.medicare.gov/LongTermCare/Static/Home.asp)


There is much controversy about the Long-Term Care Insurance policies. Long-term-care insurance can cover most expenses incurred but doesn’t come cheap. Basic coverage will probably cost several thousand dollars a year, and a deluxe model could be three of four times more.
If you can’t afford to spend that much without shortchanging your retirement savings and your life and disability insurance coverage OR you don’t think you can keep up with the payments for 25 to 40 years than long-term-care insurance isn’t for you. (Weisser, 112)

When to Buy

The right time to get long-term-care insurance is around age 60. Agents will encourage you to buy when you are 40 because as you grow older, premiums increase and your chances of passing underwriting screens decrease. Most likely you have financial commitments in your forties and fifties (such as kids’ college). Premium prices don’t really spike until after age 60.
Unless your family history gives you reasons to think your health could fail at a young age then wait. (Weisser, 112)
From a customer’s perspective buying long-term care insurance early in life hold big attractions, stresses the American Association for Long-Term Care Insurance (AALCI). The AALCI said the average annual cost for a 55-year old buying long-term care insurance in 2005 was $772, almost half the $1,456 for a 65 year old. Good health discounts can also result in a considerable difference in costs ...

Read More

Related Essays on Long Term Care Financing

  • Islamic Banking

    10085 words - 41 pages

    ISLAMIC BANKING By A.L.M. Abdul Gafoor (This is actually Chapter 4 of the book, Interest-free Commercial Banking, by the author, 1995) (Reproduced here for the benefit of those students and others, especially in developing countries, who find it difficult to obtain the book and who make frequent inquiries of the author if he could send them more information about Islamic Banking.) 4.0 Introduction 4.1 Historical development | 4.1.1 Interest-free banking as an idea | 4.1.2 The coming into being of interest-free banks | 4.1.3. The last decade 4.2 Current practices | 4.2.1 Deposit accounts

    View Document »

    Case Cci

    2977 words - 12 pages

    DEBT POLICY Continental Carriers, Inc. CONTINENTAL CARRIERS, INC. (CCI) Business Type: Trucking Company Carrier Operation: Intrastate Only (Non-Hazardous Material) DOT Number: 1764914 MC Number: 644870-C Other Authority: We are a carrier able to transport all types of frieght, legal dims to Overdimensional.We carry $2,000,000.00 liabilty and $500,000.00 cargo. Insurance: Our standard coverage is for $2.00 per pound as per B/L. High value shipments are to be self insured by buyer or shipper for value over and above $2.00 per pound. Categori

    View Document »

    Financing Education

    3535 words - 15 pages

    I. INTRODUCTION Financing education is important as it constitutes an investment in education that yields considerable social and private returns. Four critical reasons for investing in education (Bregman & Tallmeister, 2002; IBRD, 2005): Education is crucial for economic growth and development. Technological change in the 21st century has made knowledge essential for competing in the world markets. Education therefore provides countries with the human capital needed for economic growth. In addition, it provides a link between the levels of education. Education cont

    View Document »

    Biotech Analysis

    2646 words - 11 pages

    Reasons for Selling CPG: ? Compared to other divisions within Bio-Tech, CPG does not enjoy a healthy profit margin. Besides, its profit margins also lag behind other competitors in similar industries. Plus, there is the uncertainty that CPG may not attract any buyers in the future. Thus, sale of an under performing division (CPG) might allow Bio-Tech to concentrate its resources on stronger divisions and generate higher overall returns. ? In addition, the funds from the sale of CPG ($25 million) would help to finance the expansion of LPG & CPG. Thus, this will make CP

    View Document »

    Corporate Management Lawrence Sports

    1739 words - 7 pages

    Lawrence Sports is faced with the problem of receiving delinquent payments from their major customer, Mayo. As a result, accounts payable to Murray and Gartner, the two major suppliers for Lawrence Sports, are delayed. The delayed payments are causing Lawrence Sports to sacrifice its current payment obligations with both suppliers. The current policy with Murray implies that Lawrence Sports is to pay 15% on purchases and the remaining 85% due the following week. The arrangement with Gartner implies that Lawrence Sport pay 40% on purchases with the remaining balance of 60% due in the follow

    View Document »

    Long Term Financing

    2898 words - 12 pages

    In order for a company to expand successfully, the corporations must have working knowledge in long-term financing. With this information on hand, a firm will be able to make the best decisions, regarding funds and other business ventures. Sometimes, management requires education on such topics from outside sources. In gaining long-term financing advice, a firm should touch on a few highly important topics. A firm’s management team should be educated on how to compare and contrast the Capital Asset Pricing Model and the Discounted Cash Flows Model. The corporation must be able to evaluate the

    View Document »

    Islamic Finance Advanteges

    4480 words - 18 pages

    It is more than a quarter century now when the practice of Islamic banking and finance began in earnest. The Dubai Islamic Bank, a private company, as well as the Islamic Development Bank, a symbol of the Muslim peoples’ endorsement of the idea launched by the Organization of the Islamic Conference (OIC), were both established in 1975. The idea is maturing, the numbers are growing, the market share is increasing. There must be something that sustains it in an environment overwhelmingly dominated by conventional finance. What could it be? Not all Muslims are

    View Document »

    Business Plan Sample

    13742 words - 55 pages

    Introduction to the Sample Plan The following document is a sample of a finished business plan. In your final plan, you have the opportunity to elaborate on those ideas in your outline that you feel are most integral to your business. In composing your business plan, you can follow your outline as loosely or closely as you choose. For instance, in the sample plan, the Executive Summary, which is the last section of the Business Planning Wizard, is presented first in order to emphasize the most impressive features of the business. Your goal in composing a finished bus

    View Document »

    Islamic Economics

    6745 words - 27 pages

    EXECUTIVE SUMMARY The Banking system should, like all other aspects of the Islamic way of life, be made to contribute richly to the achievement of the major socio-economic goals of Islam. The system should also continue to perform the usual functions that relate to its own special field which other banking systems performs. Some of the most important goals and function necessary for an Islamic Banking system are socio-economic justice and equitable distribution of income and wealth as well as the stability in the value of money to enable the medium of exchange to be

    View Document »

    Small And Mediem Enterprises

    3585 words - 15 pages

    Introduction Small medium-sized enterprises are not only the most adapted enterprises for developing countries only, also are the unique categories of projects, which provide a lot to these countries in solving its critical problems even if these countries can or not attract foreign direct investment (FDI). Economists with their different ideologies rank these projects as the ideal solutions for many problems as unemployment, inflation, the deficit in the Balance of payment (the deficit in the developing countries in general is high and in Egypt specifically it is periodic & high, and that’s

    View Document »

More Popular Essays

Research help is just moments away!