We are not poor enough (total asset excluding car and primary property is less than $2500) to get care by gov't; however we are not rich enough (even for those have several MI) to cover ourselves. Any event with unexpected cost of over $500k will change the family life styles. So life insurance is important. If you can't afford whole life, buy term.
About 残保, I would like to clarify the difference between LTCare and LT Disability since now it is benefit enrollment periods.
LT Disability - It is to cover your INCOME when you lose working ability. Most of employers provide free coverage for 2-3 times of your salary. You may pay to buy more coverage. This is the $$ to buy bread for you and family when you CAN"t work.
LT Care - It is $$ to pay for care (Rehap, nursing home, care services including bathing, feeding, dressing.....). Don't say I won't need it because people in the mode do not have ability to kill themselves and most of states don't allow voluntary death. In average, monthly cost is about $6,000 -$8,000 and patients needs about 5 years of care before seeing Marx. The monthly could be higher in future due to inflation and the periods will be longer due to medical high tech.
Same as life insurance, there are "Term" for LTC. You can use $$ in FSA to buy it or claim it as business expenses if you are a business owners (including those have LLC). However, the $$ is 打水漂 every year if you don't use it; and the insurance company reserve the right to change the premium every year (like homeowner insurance). There are also "Whole Life" for LTC but you can't use FSA $$ nor business expenses, it is guaranteed for life .......
About 残保, I would like to clarify the difference between LTCare and LT Disability since now it is benefit enrollment periods.
LT Disability - It is to cover your INCOME when you lose working ability. Most of employers provide free coverage for 2-3 times of your salary. You may pay to buy more coverage. This is the $$ to buy bread for you and family when you CAN"t work.
LT Care - It is $$ to pay for care (Rehap, nursing home, care services including bathing, feeding, dressing.....). Don't say I won't need it because people in the mode do not have ability to kill themselves and most of states don't allow voluntary death. In average, monthly cost is about $6,000 -$8,000 and patients needs about 5 years of care before seeing Marx. The monthly could be higher in future due to inflation and the periods will be longer due to medical high tech.
Same as life insurance, there are "Term" for LTC. You can use $$ in FSA to buy it or claim it as business expenses if you are a business owners (including those have LLC). However, the $$ is 打水漂 every year if you don't use it; and the insurance company reserve the right to change the premium every year (like homeowner insurance). There are also "Whole Life" for LTC but you can't use FSA $$ nor business expenses, it is guaranteed for life .......
选择“Disable on www.wenxuecity.com”
选择“don't run on pages on this domain”
