TodayInsurance.net

Prominent long term care insurance carrier Penn Treaty recently announced that it will discontinue offering the “unlimited lifetime” benefit option on all new policy forms as of 1/1/2007. Will other insurance companies follow suit? We think so, as the industry adjusts to changes in the all-too-real world of care and care giving.

With rising baby boomers life expectancies and broadening offerings in the care delivery systems “unlimited lifetime” benefits simply pose expanded and uncertain risk for insurers. This risk naturally translates to pricing which places “unlimited lifetime” benefit out of reach for the average consumer, so the insurers are opting to offer benefits which are limited to a fixed number of years payout or a limited “pool of money” payout.

This makes sense by insurance standards. Exposure to unlimited risk is not prudent for most companies, although some carriers may still choose to offer “unlimited lifetime” be (more...)

Medical insurance is just flat outrageous these days. I m not really talking so much about the doctors visits because, if you think about it, just to go and visit the doctor for something simple isn t really all that expensive, depending on where you live.

In most cases large metropolitan areas have a big advantage over smaller rural towns because of the competition between doctors. Everyone wants your business and they re willing to sacrifice a bit in order to get it, however, you still get a better deal from a small town country doctor. A lot of these guys just appreciate the business. I know this is true because we recently moved from the Phoenix, Arizona area to a small town in Oklahoma where we can now see a doctor for only $30 per visit. However, doctor visits are not the primary reason for having health insurance.

The main purpose of health insurance is to make certain that you re covered in case of a hospital visit or stay. The cost of a hospital stay for any amount of time wil (more...)