With Michigan consumers living in an unstable economy for many of years, the hopes and dreams of retirement always looks bleak and sometimes impossible.
One of the mainstays in the golden years is to make sure your health is completely taken care of. Michigan long term care insurance is one of, or the most important policies you can own. Stats are amazing in this industry when it comes to consumers who have to go into a retirement home. Retirement homes can (depending on the state involved) cost on the upwards of $55,000 and higher for a calender year.
The American Stroke Association recently came out with some good facts that go well together with a long term insurance policy in Michigan. One third of stroke victims become disabled are under the age of 65. In that same presentation, the association makes it clear one out of five Americans need care in a retirement home for at least a year. After that, three percent require care for more than five years.
When the discussion of long term care insurance comes up, Michigan consumers usually cringe. I mean let us be honest, the cost is above average. To top that and what usually needs to be put out there, the cost grows ten fold as the person gets older. So as an insurance broker for the state of Michigan, when do I start to present long term care insurance for the average consumer? I usually bring the topic up for consumers in their mid 40's. This to me is then when a Michigan long term care policy is still affordable, and usually the topic is starting to arise.
The long term care policy itself can be constructed to fit anyone's needs with regards to price. You can pick the length of coverage, deductibles, etc. This helps as obvious consumers want affordability, and by working on the policy itself, this usually can occur.
We currently work with over five different life insurance companies that offer LTC policies. Keep in mind, different insurance companies price their long term care products differently. Trust me also, each year these prices change as each insurance company goes through price on's due to current claims, and current policyholders. It then becomes our job as brokers to find the best product company and premium wise for each consumer we try to help.
Finally, to add on the job of insurance brokers. While captive agents usually represent great products, they usually only represent one. A true independent broker can come to you and produce quotes from many different companies.
One of the mainstays in the golden years is to make sure your health is completely taken care of. Michigan long term care insurance is one of, or the most important policies you can own. Stats are amazing in this industry when it comes to consumers who have to go into a retirement home. Retirement homes can (depending on the state involved) cost on the upwards of $55,000 and higher for a calender year.
The American Stroke Association recently came out with some good facts that go well together with a long term insurance policy in Michigan. One third of stroke victims become disabled are under the age of 65. In that same presentation, the association makes it clear one out of five Americans need care in a retirement home for at least a year. After that, three percent require care for more than five years.
When the discussion of long term care insurance comes up, Michigan consumers usually cringe. I mean let us be honest, the cost is above average. To top that and what usually needs to be put out there, the cost grows ten fold as the person gets older. So as an insurance broker for the state of Michigan, when do I start to present long term care insurance for the average consumer? I usually bring the topic up for consumers in their mid 40's. This to me is then when a Michigan long term care policy is still affordable, and usually the topic is starting to arise.
The long term care policy itself can be constructed to fit anyone's needs with regards to price. You can pick the length of coverage, deductibles, etc. This helps as obvious consumers want affordability, and by working on the policy itself, this usually can occur.
We currently work with over five different life insurance companies that offer LTC policies. Keep in mind, different insurance companies price their long term care products differently. Trust me also, each year these prices change as each insurance company goes through price on's due to current claims, and current policyholders. It then becomes our job as brokers to find the best product company and premium wise for each consumer we try to help.
Finally, to add on the job of insurance brokers. While captive agents usually represent great products, they usually only represent one. A true independent broker can come to you and produce quotes from many different companies.
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