Arthur Rudnick
Guru
- 1,652
"sao's not such an s.o.b. after all"
Hey, I never, ever, ever, ever said that!
(I may have implied it, but I never said it)
Hey, I never, ever, ever, ever said that!
(I may have implied it, but I never said it)
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"sao's not such an s.o.b. after all"
Hey, I never, ever, ever, ever said that!
(I may have implied it, but I never said it)
What's interesting is that CLASS Act is offering a $50/day benefit and every agent on the planet is complaining that $50/day is worthless.
I agreee. $50/day is worthless by itself. However, as stated previously by Rick, if it's in addition to some other LTC benefit, (in his case MoneyGuard) it may be enough.
In NY, the minimum daily benefit available is $100/day. And, if someone had a policy with $100/day in benefits, they could not purchase another policy for less than $100/day.
The reality is, we should be looking to sell a comprehensive LTC policy, covering every level of care. And, LTC-101 will teach you that the benefits sold should be based on the costs of care in the area where the policyholder will be receiving it. Subtract from the cost of care the amount that the policyholder can co-insure and there's your benefit.
If all someone can afford is a policy paying $50/day, they are probably not financially qualified to purchase any type of LTCi in the first pl;ace.
Retread,
After all of this time, and after all of these posts, you still don't know what to do?
How about reading this thread over from the begining, very, very slowly?
After doing that, if you still need advice, I'd suggest buying & reading a book on long term care insurance.