Newspapers / The Brunswick Beacon (Shallotte, … / Aug. 4, 1994, edition 1 / Page 37
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MOKIFY MANAGEMENT Pros, Cons of Long-Term Care Insurance Although long-term care is one of the issues addressed in President Clinton's health care reform pack age, there is no guarantee that the government will pick up the tab for our long-term health care needs. In fact, in recent years, the government has tightened the rules on providing Medicaid assistance, compelling taxpayers who can afford to do so to pay a greater proportion of the costs for nursing homes and home health care. One way for you to provide for your long-term care needs is by pur chasing long-term care insurance. The N.C. Association of Certified Public Accountants says that the cost benefit of purchasing such in surance depends on a number of fac tors, including your current income and assets, age and health, as well as your anticipated life expectancy. What Is It? Long-term care insurance pro vides coverage for long-term care expenses that result from aging, a chronic illness or a debilitating con dition such as Alzheimer's or Park inson's disease. While most people think of long-term care insurance as a means of paying nursing-home costs, you can be insured for much more than that. Today, it is common for policies to cover expenses for hospices, adult day care centers, and home health care. The latter can include speech therapy, physical or occupational therapy, services of home health aides and even housekeeping. Some policies also pay for traditional med ical care and for custodial care in cases of mental impairment. Worth the Price? Monthly premiums for long-term care policies may range from $20 to several hundred dollars. The young er you are, the lower the premium amount. However, if you're under age 40 and no chronic diseases run in your family, you may be better off socking money away in tax -deferred retirement plans or investing your money in other vehicles. The chances of you recouping what you would contribute to long-term care insurance over 30 or 40 years are slim. Most people begin to seriously consider purchasing long-term care insurance when they are about age 60. At this point, premium amounts are still relatively modest for those in good health. People who would benefit the most from long-term care policies are those with long life expectancies who have substantial assets. Such individuals would not qualify for Medicaid. If they required expensive long-term care, they would deplete their assets quickly, leaving little for a spouse or children. On the other hand, if you have few assets and and a modest income, the strain of naving for long-term care insurance may not be worth the price. If you required long-term care, you would most likely qualify for Medicaid in a relatively short pe riod of time. Influences On Cost In addition to your age, the bene fit amount and deductible period in fluence the cost of long-term care insurance. Policies will offer you a choice of daily maximum benefits ranging from $50 to $200. You can also sclect a lifetime maximum ben efit which is usually the equivalent of three, five or 10 years at your dai ly maximum benefit amount. In selecting a benefit amount, consider the average cost of nursing home care in your area and how much of the nursing home bill you anticipate paying yourself. Be aware, too, that some policies offer inflation riders, giving you the op tion, usually on an annual basis, of increasing your daily and lifetime maximums by a specific amount. The deductible period ? that is, the amount of time you pay your own costs until insurance kicks in ? also affects your premium amount. For example, your coverage may be gin after 20 days, 60 days or 90 days. Where To Buy CPAs point out that there are a number of sources for long-term care coverage: group policies of fered by employers, personal indi vidual policies offered directly by an insurance company, and special types of insurance policies that pay upon death or disability. Be sure to review all these options before sign ing any long-term care insurance contract. Money Management is a weekly column on personal finance pre pared and distributed by the N.C. Association of Certified Public Accountants. Black Honored At National Conference Bonnie Black Teal and Skel ley was one of two agents rec ognized nation ally at the Be yond Excel lence confer ence July 20-22 in Vail, Colo rado. Black has been with ERA for 2 years and received the Lead ership Award in 1993 for exceeding $5 million in sales. The Beyond Excellence program offers seminars and workshops for top-producing agents to assist them in their sales efforts. of ERA Callihan, BLACK Coastal Management Focus Of National Conference A national conference on inno vations in coastal management will be held Sept. 7-9 in Wilmington. Part of the Year of the Coast cel ebration held in recognition of the 20th anniversary of North Carolina's Coastal Area Management Act, the conference will focus on topics such as environmental education, growth management and water quality pro tection. Lectures, discussions and field trips will explore approaches taken by various states to coastal zone management. The program looks at the roles of scientists, coastal man agers, political leaders and citizens in balancing the pressures of recre ation and tourism, commercial and sports fishing, increasing population and development with the protection of fragile coastal ecosystems. The North Carolina General Assembly passed the Coastal Area Management Act in 1974 to protect and preserve North Carolina's coastal resources through orderly ALL STAR FLAGS 1-800-868-FLAG Flags ? Banners Pennants Holiday Flags & Banners Residential & Commercial Flagpoles Installation, too. FREE Catalog & Delivery 101 Aviators Lane K.' '(H Burgaw, NC 28425 Catherine Moore, Owner development and management. The state carries out that law through a program that integrates regulation and local land-use planning and through the acquisition and manage ment of unique natural areas. The September conference is the culmination of a year of work by a blue-ribbon governor's panel study ing coastal management in North Carolina. That panel, the Coastal Future Committee led by Richardson Prey er, will present its final report Li> Gov. James B. Hunt during the con ference. It contains the panel's rec ommendations for future coastal management in North Carolina. Attendees can register for the full conference for a fee of $85, which includes a field trip, reception and banquet, the lhursday night musical comedy "King Mackerel and the Blues are Running" by Coastal Cohorts Bland Simpson, Don Dixon and Jim Wann, and breaks. On-site check-in and regis i ? = tration begins at 8:30 a.m. Wednes day. A la carte registration offers a choice of attending only the Wed nesday night reception and banquet, $35; field trip, meeting registration and Thursday lunch, $38; or "King Mackerel and the Blues Are Run ning" only, $12. Wednesday field trips (10 a.m. to 3 p.m.) include & choice of one of the outings below: ? Hammocks Beach State Park for a look at aeolian land forms and environmental education efforts; ? a discussion by Bob Stoud of The Coastal Area Management Act; ? a tour of undeveloped Bird Island by Frank Nesmith with dis cussion of barrier island dynamics, natural heritage protection and North Carolina's development per mitting process; ? a visit to Topsail Island with a geologist to look at examples of good and bad examples of living with barrier Island geology, with a ?L ?G a High credit card debts? Large hospital bills? Bankruptcy may help. Contact WILLIAM D. EZZELL Attorney (910)457-9586 or (910)253-5600 ?W 9 Take Your Motorola Freer f Out To The ^ Boil Gone hether you're at a game, around town or at a business function, a Motorola Pager lets you stay in contact. Never be out of touch from your family, office or friends. Now you can have the freedom and peace of mind to do the things that are important to you. The affordable, portable Motorola Pager. Variety of Models from $15 to $19.75 Monthly ATLANTIC TELEPHONE MEMBERSHIP CORP. P.O BOX 3198 ? SHALLOTTE. NC 28459 ? 754-4311 discussion of barrier island dynam ics and sea-level rise; ? a tour along the New River, with discussion of coastal fisheries and habitat protection, including threats to the fishing industry; ? a river walk led by UNC-W Chancellor James Lcutze to discuss the Cape Fear River and the process es influencing this river. He will dis cuss the coordination between gov ernment, academic, development and citizen group interests; and ? a discussion with New Han over County planners on the devel opment of watershed plans for tidal creeks and the importance of local land-use planning to the area. To obtain a registration form call Jordan McColl. Inc. in Wilmington at 1-800-258-6711. llAff fMOTO tY BbC CAJdSON Too Complicated? Brunswick County Commissioners Chairman Don Warren displays a flow chart showing the permitting process and regulatory side tracks that can be encountered by anyone applying to build a home almost anywhere in North Carolina. Officials in the planning, zon ing, health, engineering, inspections and other departments are working with interim County Manager Charles McGinnis to create a " one-stop-shopping " central permitting office that will link the county agencies by computer. Dissatisfied CD or IRA rate call me today! d wit*1 rates? Richard C. Glenn PO Box 2865 S hallo tte, NC 28459 (910)754-6771 SECURITIES AMERICA, INC. 18 Resort Plaza Shallotte Mem bet NASO'SIPC Security Savings Bank announces New Higher Interest Savings Come by any of our offices and let one of our staff introduce you to the highest yielding CDs around. I 6-MONTH M AQO# CERTIFICATE ?? m ? ? A # A OF DEPOSIT ? w I wx x^x v-y^xx ANNUAL PERCENTAGE YIELD 2-YEAR B IVMI CERTIFICATE gQ OF DEPOSIT T^al^c^y^ 3-YEAR B OifO/ CERTIFICATE # /fl OF DEPOSIT w ** ANNUAL PERCENTAGE YIELD 5-YEAR B 090/ CERTIFICATE MM *wM^m #1 1 OF DEPOSIT ANNUAL PERCENTAGE YIELD A minimum deposit of $500 is required for the above Certificates of Deposit. These APYs are accurate as of July 11, 1994. The offering of these rates may be withdrawn without notice. Security fc SAVINGS BANK SSB ** INSURE^ ?Shallotte -Calabash -South port -Leland -Long Beach 754-4371 579-3595 457-5246 371-6546 278-6022 ? ? ? ? ? _ ?
The Brunswick Beacon (Shallotte, N.C.)
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Aug. 4, 1994, edition 1
37
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