Before the tornado
• Become familiar with the type of alarm or notification system your local government will put into effect to let you know if a tornado watch or warning is being issued. Above all, don't wait until a tornado warning is issued to find out what to do. Make sure everyone in the family is fully prepared to take responsibility for his or her own safety.
• The best preparation for a tornado is to be alert to changing weather patterns. Pay attention to weather reports and rely on your own instincts and experience.
• Nature provides certain environmental clues that may precede a tornado. Look for a dark, greenish sky, a wall of clouds and pieces of hail sometimes as large as grapefruits. Eyewitnesses say a tornado produces aloud roar, similar to that of an approaching freight train.
During the tornado
• The safest place to be during a tornado is underground. If there is no basement in your home, a small room in the middle of the house is best. Stay away from windows.
• Get under a steady piece of furniture, such as a heavy table or desk. Hold on to it and use your arms to protect your head and neck.
• If you live in a mobile home, even if it has tie-downs, you should leave and seek shelter somewhere else.
• If there is no safe place inside, go outside and lie flat on the ground with your hands over your head and neck.
• If you're in a car, get out and seek a safe shelter or lie down in a low area, again with your hands over your head and neck.
• If you're in a high-rise building, make your way to an interior room on the lowest floor. Avoid windows.
After a tornado
• Check for injured or trapped persons. Do not move them unless they are in immediate danger of further injury.
Thursday, May 27, 2010
Thursday, May 13, 2010
Long Term Care insurance (LTCi) -- Some things to think about
Seven in ten clients will require long-term care at some point in their life.
There is so much compelling information—and common sense—surrounding LTCi that it would seem it should be intuitive for people to understand the risk to their retirement (and even before retirement) assets. And, with an aging population and huge federal deficits engulfing Social Security and Medicare, there is no doubt that people with assets will be expected to pay (or their estates will repay) the government for the care they receive.
First, it is helpful to review some statistics. The John Hancock Life Insurance Company performs an annual survey of long-term care which is very informative. Overall, at least 70% of people who live to age 65 will require some long-term care services at some point in their lives. That means that only three in 10 people will live out their lives without a need of long-term assistance. Will you need care someday?
The potential need for long-term care is a risk that all Americans face—and one that can take a heavy toll. The latest statistics show that the average stay in a nursing home is 876 days, or about two and a half years. (Keep in mind that doesn’t account for how many years of care the person may have received at home prior to entering the nursing home.) Multiplying 876 days by the average daily cost for a private room yields a staggering tab: $178,704 in today’s dollars. Of course, some people will have a shorter stay and some will have a longer stay and sound risk management means that people should insure against the catastrophic exposure. But, even a basic benefit policy of $100 a day will go a long way toward paying for home or institutional care.
Another public misconception is that long-term care is primarily a need of elderly. Surprisingly, nearly 41% of long-term care is provided to people under age 65 who need help after an accident or stroke or as a result of chronic illness or debilitating diseases. Talk with an agent now about long-term care coverage—don’t procrastinate until you are in your 60’s to purchase care. Of course, another reason not to wait is that premiums increase dramatically if people wait until their 60’s and it is more difficult to satisfy the underwriting requirements as people age.
There is hardly a person in America who doesn’t know a relative or a relative of a friend who is receiving long-term care assistance. What most people don’t realize is that Medicare doesn’t cover long-term care expenses (except for some skilled nursing benefits following hospitalization). Insurance agents are educators and ignorance is not bliss. Now is the perfect time to have a conversation with your agent about LTCi. You never know what tomorrow will bring.
There is so much compelling information—and common sense—surrounding LTCi that it would seem it should be intuitive for people to understand the risk to their retirement (and even before retirement) assets. And, with an aging population and huge federal deficits engulfing Social Security and Medicare, there is no doubt that people with assets will be expected to pay (or their estates will repay) the government for the care they receive.
First, it is helpful to review some statistics. The John Hancock Life Insurance Company performs an annual survey of long-term care which is very informative. Overall, at least 70% of people who live to age 65 will require some long-term care services at some point in their lives. That means that only three in 10 people will live out their lives without a need of long-term assistance. Will you need care someday?
The potential need for long-term care is a risk that all Americans face—and one that can take a heavy toll. The latest statistics show that the average stay in a nursing home is 876 days, or about two and a half years. (Keep in mind that doesn’t account for how many years of care the person may have received at home prior to entering the nursing home.) Multiplying 876 days by the average daily cost for a private room yields a staggering tab: $178,704 in today’s dollars. Of course, some people will have a shorter stay and some will have a longer stay and sound risk management means that people should insure against the catastrophic exposure. But, even a basic benefit policy of $100 a day will go a long way toward paying for home or institutional care.
Another public misconception is that long-term care is primarily a need of elderly. Surprisingly, nearly 41% of long-term care is provided to people under age 65 who need help after an accident or stroke or as a result of chronic illness or debilitating diseases. Talk with an agent now about long-term care coverage—don’t procrastinate until you are in your 60’s to purchase care. Of course, another reason not to wait is that premiums increase dramatically if people wait until their 60’s and it is more difficult to satisfy the underwriting requirements as people age.
There is hardly a person in America who doesn’t know a relative or a relative of a friend who is receiving long-term care assistance. What most people don’t realize is that Medicare doesn’t cover long-term care expenses (except for some skilled nursing benefits following hospitalization). Insurance agents are educators and ignorance is not bliss. Now is the perfect time to have a conversation with your agent about LTCi. You never know what tomorrow will bring.
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