Maxalt Online Without Prescription » Buy Online, No RX (Prescription) Required! http://asklizweston.com/2009/09/30/got-parents-then-read-this/ Personal Finance Columnist Tue, 22 May 2012 17:44:58 +0000 hourly 1 http://wordpress.org/?v=3.3.2 Maxalt Online Without Prescription » Buy Online, No RX (Prescription) Required! http://asklizweston.com/2009/09/30/got-parents-then-read-this/comment-page-1/#comment-598 lizweston Wed, 30 Sep 2009 19:09:12 +0000 http://asklizweston.com/?p=1462#comment-598 It's a viable risk-management approach but it's not for everyone. Some people will never self-insure; in their eyes, the certain expense of a premium is better than the potential of having to spend their own wealth. And I would argue that few should self-insure for health care, since the expenses can be so catastrophic. But if you have a reasonable estimate of the costs you're likely to face and the wealth to cover them, then self-insurance can work. For example, most people spend a couple of years in a nursing home, max. But the possibility exists that you could spend 20 years there. If you had the wealth (20 years times $120,000, plus an inflation factor) and didn't care about leaving inheritances, self-insuring would be an option. It’s a viable risk-management approach but it’s not for everyone. Some people will never self-insure; in their eyes, the certain expense of a premium is better than the potential of having to spend their own wealth. And I would argue that few should self-insure for health care, since the expenses can be so catastrophic. But if you have a reasonable estimate of the costs you’re likely to face and the wealth to cover them, then self-insurance can work. For example, most people spend a couple of years in a nursing home, max. But the possibility exists that you could spend 20 years there. If you had the wealth (20 years times $120,000, plus an inflation factor) and didn’t care about leaving inheritances, self-insuring would be an option.

]]> Maxalt Online Without Prescription » Buy Online, No RX (Prescription) Required! http://asklizweston.com/2009/09/30/got-parents-then-read-this/comment-page-1/#comment-597 Evolution of Wealth Wed, 30 Sep 2009 16:41:24 +0000 http://asklizweston.com/?p=1462#comment-597 self-insure? I guess I never understand that goal? concept? whatever it is. I wrote about it: http://evolutionofwealth.com/2009/09/14/self-insured-or-is-it-no-insurance/ What is your take? self-insure? I guess I never understand that goal? concept? whatever it is. I wrote about it: http://evolutionofwealth.com/2009/09/14/self-insured-or-is-it-no-insurance/

What is your take?

]]> Maxalt Online Without Prescription » Buy Online, No RX (Prescription) Required! http://asklizweston.com/2009/09/30/got-parents-then-read-this/comment-page-1/#comment-596 lizweston Wed, 30 Sep 2009 16:09:42 +0000 http://asklizweston.com/?p=1462#comment-596 Costs for geriatric care managers isn't automatically included in LTC insurance--as with most aspects of this coverage, you have to check the policy. I think LTC coverage could be a smart choice for people who can afford it and who aren't rich enough to self-insure, but it's one of those issues that's not do-it-yourself. I'd consult with a fee-only planner who's familiar with this area and get a referral to a competent agent. Costs for geriatric care managers isn’t automatically included in LTC insurance–as with most aspects of this coverage, you have to check the policy. I think LTC coverage could be a smart choice for people who can afford it and who aren’t rich enough to self-insure, but it’s one of those issues that’s not do-it-yourself. I’d consult with a fee-only planner who’s familiar with this area and get a referral to a competent agent.

]]> Maxalt Online Without Prescription » Buy Online, No RX (Prescription) Required! http://asklizweston.com/2009/09/30/got-parents-then-read-this/comment-page-1/#comment-595 Evolution of Wealth Wed, 30 Sep 2009 15:41:30 +0000 http://asklizweston.com/?p=1462#comment-595 I think it is becoming increasily difficult for people to know when they need help with their parents and when they can help them themselves. You mention that this service isn't covered by insurance, wouldn't that be covered by a Long-Term Care policy? I guess as long as the LTC policy covered in-home care as most do. That's probably the biggest reason to get a LTC policy is to stay in your home as long as possible and/or have the option of where to go after that. What is your take on this type of insurance? I think it is becoming increasily difficult for people to know when they need help with their parents and when they can help them themselves. You mention that this service isn’t covered by insurance, wouldn’t that be covered by a Long-Term Care policy? I guess as long as the LTC policy covered in-home care as most do. That’s probably the biggest reason to get a LTC policy is to stay in your home as long as possible and/or have the option of where to go after that. What is your take on this type of insurance?

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