| Retirement News |
| Affordable Long Term Care Insurance? |
Frequent Smiles May Suggest a Long Life 
The Psychological Science journal recently suggested a clear correlation between those who smile a lot and longevity. The study found that people who smiled throughout their life lived longer.
Are your photo albums full of happy photos of yourself? Then expect to live longer than your more dour peers.
Expecting a Long Life? Find Out How Long Your Money will Last in Retirement and
Learn About Ways to Improve Your Finances.
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Is There a Downside to Good Health?
Yes. Apparently, good health actually costs more.
Researchers at Boston College’s Center for Retirement Research find that the lifetime health care costs of healthy retirees are higher than those of sick retirees.
While counterintuitive, the reasons the healthy incur higher health care costs than sick people are: 1.) Living longer means health care costs over more years. 2.) Even if you are healthy now, most everyone eventually succumbs to a chronic disease. 3.) Those in healthy households face a higher lifetime risk of requiring nursing home or long-term care than the unhealthy.
Whether you consider yourself healthy or not, the reality for everyone is that Health and Long Term Care costs are a significant retirement expense.
Find Out How Long Your Retirement Savings Will Last with the
NewRetirement Retirement Calculator.
Do You Have the Most Affordable Health Insurance for You?
Have You Explored Long Term Care Insurance?
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A Less Expensive Long Term Care Insurance Option?
As you are probably aware, the costs of Long Term Care are exorbitantly high and there is a strong likelihood that you will require these services.
However, most Long Term Care Insurance policies are also extremely expensive. As such, more and more retirees are looking for insurance products that minimize the expense without sacrificing the primary benefits. One Long Term Care Insurance option is a fixed-duration policy. A fixed-duration policy will cover the costs of Long Term Care for a fixed period of time – usually three years – and may be a good option since Long Term Care needs don’t usually exceed that period of time.
The really good news is that these plans can cost nearly half that of a regular policy.
Talk with a Broker About an Affordable Long Term Care Policy for You.
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Will the Federal Government Continue to Provide the Same Level of Support for Reverse Mortgages Loans?
It is a little discussed fact that the federal government provides the insurance against default for Reverse Mortgage loans. And right now some in the federal government are concerned that the HECM Reverse Mortgage program is costing the government too much money.
The Department of Housing and Urban Development (HUD), which administers the HECM Reverse Mortgage program has requested an additional $250 million for the 2011 federal budget to support the HECM program. This money would allow HUD to maintain the current loan-to-value requirements for the HECM program. In other words, the loan amounts as a percentage of your home value would be maintained at current levels.
If this $250 million dollar subsidy is not provided, then fewer borrowers will qualify for a Reverse Mortgage – especially borrowers who have a low percentage of equity in their homes - these homes risk being worth less that the loan amount at the termination of the reverse mortgage.
Without these additional funds, it will become more difficult for some borrowers to qualify for a Reverse Mortgage. And most borrowers will find that they qualify for less money.
Contact Your U.S. Representative With Your Opinions on Reverse Mortgages or Other Senior Issues
Calculate Your Current Loan Amount and then Talk With a Reverse Mortgage Lender to Learn How This Could Impact Your Plans.
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