Category: Long Term Care
-
Long-Term Care: Unveiling the Hidden Aspects Everyone Should Know
Read more: Long-Term Care: Unveiling the Hidden Aspects Everyone Should KnowIntroduction Long-term care (LTC) is a crucial but often misunderstood component of the healthcare system. While many associate LTC solely with nursing homes and elderly care, it encompasses a much broader range of services aimed at assisting individuals of any age with chronic illnesses, disabilities, or conditions that require ongoing support. This article delves into […]
-
Dear Employers, are your Key Employees covered?
Read more: Dear Employers, are your Key Employees covered?Your key employees deserves the best! A key employee is an individual who holds a critical role within an organization and whose departure could significantly impact the company’s operations, profitability, or reputation. They keep your business moving allowing for you to continuously share your mission and vision to the world. These individuals are often highly […]
-
Can I still qualify for Life Insurance if I had a stroke?
Read more: Can I still qualify for Life Insurance if I had a stroke?It is possible to qualify for life insurance after having a stroke, but it may depend on the severity of the stroke, the length of time since the stroke occurred, and other factors such as age, overall health, and lifestyle choices. Life insurance companies will typically consider factors such as the type of stroke, the […]
-
What is 7702?
Read more: What is 7702?Section 7702 is a section of the United States Internal Revenue Code that defines the tax treatment of life insurance contracts. Specifically, it sets forth the requirements that a life insurance policy must meet in order to qualify for tax-favored treatment. The section 7702 rules were put in place to prevent individuals from using life […]
-
What is a Policy Lapse?
Read more: What is a Policy Lapse?Life insurance policy lapse occurs when the policyholder fails to pay the required premiums on their life insurance policy and the policy terminates. When a policy lapses, the coverage provided by the policy ends and the policyholder is no longer entitled to any benefits or payouts from the policy. If a policy lapses and the […]
-
Types of Permanent Life Insurance
Read more: Types of Permanent Life InsuranceDid you know that there are different types of Permanent Life Insurance? Each with its own unique features and benefits. Here are some of the most common types of permanent life insurance: 1. Whole Life Insurance: This is the most traditional form of permanent life insurance, which provides coverage for the entire life of the […]
-
Why does life insurance cost goes up overtime?
Read more: Why does life insurance cost goes up overtime?Below are some of the reasons why life insurance cost can go up: 1. Age: As you get older, your life insurance premiums may increase because the risk of death increases with age. 2. Health: If your health deteriorates over time, your life insurance premiums may go up as well because the risk of death […]
-
Washington State and Mandatory Long Term Care
Read more: Washington State and Mandatory Long Term CareIn Seattle and the state of Washington, there have been recent efforts to establish a public long-term care insurance program that would be funded through payroll taxes. In 2019, the state legislature passed the Long-Term Care (LTC)Trust Act, which created a new program to provide long-term care benefits to eligible individuals starting in 2025. The […]
-
What is Long-Term Care Insurance?
Read more: What is Long-Term Care Insurance?What is Long-Term Care Insurance? Long-Term Care Insurance (LTCI) is a type of insurance that is designed to cover the costs associated with long-term care services. Long-Term Care services may include things like nursing home care, in-home care, or other types of support services that are needed due to a chronic illness, disability, or other […]
-
When is the best time to buy life insurance?
Read more: When is the best time to buy life insurance?The best time to buy life insurance is when you have a need for it. Life insurance is designed to provide financial protection to your loved ones in the event of your unexpected death. If you have dependents who rely on you financially, or you have debts or other financial obligations that would be difficult […]