Tax Finance Info: Insurance Policy

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<br />Insurance Policy: Invest for Long-Term Care with proper Planning</h3>
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<span lang="EN-US">Once we become old, we need to
care so much for ourselves as our body becomes weak day by day. We cannot carry
out our all the day to day work. We need gentle support. We have to meet so
many expenses related to health and other special care which we require. Thus
insurance policies of long term care are very useful in meeting such expenses. <o:p></o:p></span></div>
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<span lang="EN-US">We have to pay premium when we
are young and are able to earn enough, So that that can be used at the old age.
In modern concepts insurance companies are providing us with services also.
They are in the form of medical care as well as custodial care. It will help in
carrying out the following tasks:<o:p></o:p></span></div>
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</span></span><span lang="EN-US">Health Care<o:p></o:p></span></div>
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</span></span><span lang="EN-US">House Keeping<o:p></o:p></span></div>
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<span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";"><span style="font-family: 'Times New Roman', serif;">     </span>-<span style="font-family: 'Times New Roman'; font-size: 7pt;">         
</span></span><span lang="EN-US">Preparing food, etc.<o:p></o:p></span></div>
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<span lang="EN-US">Such Insurance Policy for the
long term should be chosen after considering the following factors:<o:p></o:p></span></div>
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</span></span><b><span lang="EN-US">Age:</span></b><span lang="EN-US"> You must start
investing in long –term care from a young age. This will give you the following
benefits:<b><o:p></o:p></b></span></div>
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<span lang="EN-US" style="font-family: "Courier New"; mso-fareast-font-family: "Courier New";">o<span style="font-family: 'Times New Roman'; font-size: 7pt;">  
</span></span><span lang="EN-US">You have to pay less amount of premium as your age is lower
and your health is good.<o:p></o:p></span></div>
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<span lang="EN-US" style="font-family: "Courier New"; mso-fareast-font-family: "Courier New";">o<span style="font-family: 'Times New Roman'; font-size: 7pt;">  
</span></span><span lang="EN-US">At a young age, you can earn enough to collect for old age.<o:p></o:p></span></div>
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</span></span><b><span lang="EN-US">Income</span></b><span lang="EN-US">: You should keep in
mind the income earned by you. Is it sufficient to meet the daily expenses or
it will be increased in future? If so, then make future plans for investing in
Long – Term care.<o:p></o:p></span></div>
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</span></span><b><span lang="EN-US">Recent and hereditary
Health Conditions</span></b><span lang="EN-US">:
You should keep in mind about the diseases that you may suffer and also the
chances of hereditary diseases. So that you can choose your Long – Term care on
the basis of your health care requirements.<o:p></o:p></span></div>
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<span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";"><span style="font-family: 'Times New Roman', serif;">     </span>-<span style="font-family: 'Times New Roman'; font-size: 7pt;">         
</span></span><b><span lang="EN-US">Costs</span></b><span lang="EN-US">: There are lots of
companies providing Long –Term Care Insurance. You must scan the market and
compare the prices and choose the best one. Because sometimes it may happen
that the same care be at a cheaper rate in either company.<o:p></o:p></span></div>
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</span></span><b><span lang="EN-US">Choosing Long – Term
Care Company</span></b><span lang="EN-US">:
While choosing long term care company you must keep the following things in
mind:<o:p></o:p></span></div>
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<span lang="EN-US" style="font-family: "Courier New"; mso-fareast-font-family: "Courier New";">o<span style="font-family: 'Times New Roman'; font-size: 7pt;">  
</span></span><span lang="EN-US">The Company is reliable<o:p></o:p></span></div>
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</span></span><span lang="EN-US">The company is long lasting<o:p></o:p></span></div>
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</span></span><span lang="EN-US">The company is financially sound<o:p></o:p></span></div>
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<span lang="EN-US" style="font-family: "Courier New"; mso-fareast-font-family: "Courier New";">o<span style="font-family: 'Times New Roman'; font-size: 7pt;">  
</span></span><span lang="EN-US">It has long term perspectives, etc.<o:p></o:p></span></div>
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<span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";"><span style="font-family: 'Times New Roman', serif;">     </span>-<span style="font-family: 'Times New Roman'; font-size: 7pt;">         
</span></span><b><span lang="EN-US">Buying from an agent</span></b><span lang="EN-US">: You must prefer to
buy long term care insurance from an agent. The trustworthy agent should be
chosen so that he can suggest us the care as per our requirement.<o:p></o:p></span></div>
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<span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";"><span style="font-family: 'Times New Roman', serif;">     </span>-<span style="font-family: 'Times New Roman'; font-size: 7pt;">         
</span></span><b><span lang="EN-US">Keep in mind the
other pillars in your life from whom you are going to be benefited in your old
age</span></b><span lang="EN-US">.
They are, for example family, friends and other well-wishers. So simply don’t
waste your money in paying premiums to the insurance companies. <o:p></o:p></span></div>
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<span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";"><span style="font-family: 'Times New Roman', serif;">     </span>-<span style="font-family: 'Times New Roman'; font-size: 7pt;">         
</span></span><b><span lang="EN-US">Always give
priorities to your current liquidity position</span></b><span lang="EN-US">. Don’t pay so much of premium
to secure your long term care, that you cannot enjoy your presence.<o:p></o:p></span></div>
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</span></span><span lang="EN-US">You must also consider the tax exemptions allowable to you
on long term care investments. Thus the investment policy must be so chosen that
you can invest your current income and make it tax free and receive the same
tax free as long term care.</span></div>
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Insurance Policy: Invest for Long-Term Care with proper Planning

Insurance Policy: Invest for Long-Term Care with proper Planning Once we become old, we need to care so much for ourselves as our bod...

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