Viability of Long-Term Care Insurance

The product selected is presbyopic-term alimony insurance, a financial service.

Long-term care insurance helps divvy up the cost of a person's care or supervision everywhere the course of an illness, disability, or aging. The projection is that approximately one-half of adults in the United States will have a need for long term care at some point in their lives (Korn, 2004).

Long-term care in the United States is very dear(p). Similarly, semipermanent care insurance in the United States is very costly in comparison with other forms of health insurance (Gleckman, 2004).

The emolument of semipermanent care insurance is similar in caliber to that of major medical insurance, in that it protects a person's financial assets when a medical need arises, the cost of which will consume most or all of the person's financial assets (Hilbert, 2004). Major medical policies, however, typically do non cover long-term care that does not stem from some condition requiring hospitalization. Long-term care insurance policies provide necessary care for all types of care needs, including the unfitness to care for oneself as one grows older (Peck, 2004).

The Medicare and Medicaid publicly-supported insurance programs each provide only limited long-term care (Medicare) or require a person to exhaust all or nearly al

New information underscore the need for long-term care insurance. (2004, December). Managing Benefit Plans, 4(12), 9.

Korn, D. J. (2004, October). accusation packages. Financial Planning, 34(10), 101-103.

A high worth elasticity of take in means that the proportionate change in demand is great than the proportionate change in price. A high price elasticity of demand may indicate, in some instances, that a firm or industry could maximize its revenues by minatory prices. Alternatively, however, it may also indicate that a firm or industry is in a competitive situation from which they may not be able to recover.

Bernet, P. M. (2004, Fall). The influence of prescription do drugs use on long-term care insurance ownership. happen Management & Insurance Review, 7(2), 107-120.

Administration costs are not as important as are the costs discussed above. Nevertheless, brass section costs are relevant. Improved productive in administering long-term care policies, however, may be derived through more potent applications of technological innovations.

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