What to Look for in a Long-Term Care Insurance Policy – Dallas Morning News – 03/25/13




The Dallas Morning News

Business – March 25, 2013

There Still Is Time to Make These Smart Maneuvers

By Pamela Yip

Since telling readers that I planned a column on how to shop for long-term care insurance, I have been inundated with comments and suggestions.

Long-term care insurance can be complicated, so you need to define what you’re looking for before shopping for a policy. Be sure to answer these questions:

How big of a daily or monthly benefit do you need? Do you have other assets or income that will help you pay for long-term care?

Paying for your long-term care is too important to go into lightly, so do your homework and make sure all benefits are clearly stated in the policy. Don’t take anyone’s word for it.

Comments March 30, 2013

With inflation protection the policy’s benefits will grow and keep pace with the rising costs of long term care.  In most states, like Texas, policies with inflation protection can be certified under the state’s Long Term Care Partnership Program.  Partnership Program certification provides Dollar for Dollar asset protection – with each dollar a policy pays in benefits a dollar of assets is protected away from Medicaid.  Note: some state Partnership Programs offer unlimited Medicaid asset protection.

Pricing for the same level of coverage can vary greatly between companies, with some companies charging over 100% more than others.  Work with an independent insurance agent that can provide quotations from numerous companies.  Let us research the market and design a long term care solution to meet your needs and budget at:


Aaron Skloff, AIF, CFA, MBA
CEO – Skloff Financial Group

Aaron Skloff, Accredited Investment Fiduciary (AIF), Chartered Financial Analyst (CFA), Master of Business Administration (MBA), is the Chief Executive Officer of Skloff Financial Group, a Registered Investment Advisory firm. The firm specializes in financial planning and investment management services for high net worth individuals and benefits for small to middle sized companies.  He can be contacted at www.skloff.com or 908-464-3060.

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