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    Do I Need Long-Term Care Insurance?
    Do I Need Long-Term Care Insurance?
    Do I Need Long-Term Care Insurance?
    Ebook61 pages51 minutes

    Do I Need Long-Term Care Insurance?

    By Dale Maley

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    About this ebook

    The wave of 78 million Baby Boomers start to turn age 65 in 2011. Many of them will have to decide whether or not to purchase long-term care insurance. This short story explores the subject of long-term care insurance. After reading this story, you should be able to make your own well informed decision regarding long-term care planning and funding.

    LanguageEnglish
    PublisherDale Maley
    Release dateDec 14, 2010
    ISBN9781452330549
    Do I Need Long-Term Care Insurance?
    Author

    Dale Maley

    Dale C. Maley is the author of the 19999 book Index Mutual Funds: How to Simplify Your Financial Life and Beat the Pros.He is also a contributing author to Chapter 18 Seeking Help from Professionals in the 2009 book The Bogleheads Guide to Retirement Planning.He is a very successful private investor who has been a student of Financial Planning and Investing for over 30 years. He was trained as an engineer at the University of Illinois and has been a practicing engineer for 32 years. His accomplishments as an engineer include the granting of 16 U.S. Patents and authorship of over 500 professional technical papers. He is also a member of the International Society of Automotive Engineers and the Society of Manufacturing Engineers.He also has earned an MBA (Masters Degree in Business Administration) degree from Illinois State University. His background in mathematics, engineering, and business provides him with the excellent basis for understanding and teaching investments and financial planning.He is also a very successful investor who has been investing in common stocks and mutual funds since 1980. He has also personally invested in both 401(K) and IRA plans, so he is familiar with participation and management of these types of investments. He has been investing in indexed common stock mutual funds since 1990.Dale became a Registered Financial Advisor in the State of Illinois in 2006 and is currently launching his business as a fee-only financial planner. He is President of Maley Financial Planning LLC.

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      Book preview

      Do I Need Long-Term Care Insurance? - Dale Maley

      Do I Need Long-Term Care Insurance?

      by

      Dale C. Maley

      SMASHWORDS EDITION

      PUBLISHED BY:

      Artephius Publishing on Smashwords

      Do I Need Long-Term Care Insurance?

      Copyright © 2010 by Dale C. Maley

      All rights reserved. Without limiting the rights under copyright reserved above, no part of this publication may be reproduced, stored in or introduced into a retrieval system, or transmitted, in any form, or by any means (electronic, mechanical, photocopying, recording, or otherwise) without the prior written permission of both the copyright owner and the above publisher of this book.

      * * * * *

      Table of Contents

      Chapter 1

      Definition of Long-Term Care Insurance

      Chapter 2

      Literature Review

      Chapter 3

      Literature Review Conclusions

      Chapter 4

      Ethics of Medicaid Planning

      Chapter 5

      Financial Analysis

      Chapter 6

      Summary

      Bibliography

      Web Sites

      * * * * *

      Warning-Disclaimer

      This book is designed to provide information in regard to the subject matter covered. It is sold with the understanding that the publisher and author are not engaged in rendering legal, accounting, insurance, or other professional services. If legal or other expert assistance is required, the services of a competent professional should be sought.

      It is not the purpose of this manual to reprint all the information that is otherwise available to the author and/or publisher, but to complement, amplify, and supplement other texts. You are urged to read all the available material, learn as much as possible about investing and to tailor the information to your individual needs.

      Every effort has been made to make this book as complete and as accurate as possible. However, there may be mistakes both typographical and in content. Therefore, this text should be used only as a general guide and not as the ultimate of investing information. Furthermore, this book contains information on investing only up to the printing date.

      The purpose of this book is to educate and entertain. The author and the publisher shall have neither liability nor responsibility to any person or entity with respect to any loss or damage caused, or alleged to be caused, directly or indirectly by the information contained in this book.

      * * * * *

      CHAPTER 1

      Definition of Long-Term Care Insurance

      Wikipedia defines long-term care insurance as follows: [1]

      Long-term care insurance (LTC or LTCI), an insurance product sold in the United States and the United Kingdom which helps provide for the cost of long-term care beyond a predetermined period. Long-term care insurance covers care generally not covered by health insurance, Medicare, or Medicaid.

      Individuals who require long-term care are generally not sick in the traditional sense, but instead, are unable to perform the basic activities of daily living (ADLs) such as dressing, bathing, eating, toileting, continence, transferring (getting in and out of a bed or chair), and walking.

      * * * * *

      CHAPTER 2

      Literature Review

      Methodology

      If you search Amazon.com for books using the term long-term care insurance, you will get a selection of 4,197 books! If you Google the term long-term care insurance, you will get 6,840,000 hits!

      The literature review for this short story was done by first reading and reviewing a few of the books about long-term care insurance. These books included:

      Choosing the Right Long-Term Care Insurance: Difficult Decisions Made Easy by Benjamin Lipson.

      The Consumers’ Guide to Long Term Care Insurance by Stephen Rowley.

      The Complete Idiot’s Guide to Long-Term Care Planning by Marilee Driscoll.

      AARP Crash Course in Estate Planning by Michael Palermo.

      Then Google searches were done to find opinions of some respected financial planners on long-term care insurance. The financial planning sources that were investigated included:

      Venita

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