Top Adding - Insurance

One of the most common objections to investing in LTCi is that some folks feel that they will probably never use the policy since they are in pretty good health now, and they don't want to waste mon

According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product

ey on something that will never actually be put to use.

So a good question to ask is: What evidence is there that LTCi is a wise and sound investment?

To answer that question, consider this:

· Wo

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

ld you consider auto liability insurance a wise investment for a person that has assets that need protection? If so, why?

Isn't it because a good auto liability policy can help protect against fina

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

cial ruin in the case of a major accident? Now we aren't talking about minor fender benders here. Even though they can cost a few thousand dollars to repair, the real threat to a person's financial

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

ssets would be a major accident where individuals are seriously hurt and may require extremely expensive medical treatment, perhaps even for a long period of time. Such treatment can cost hundreds o

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

thousands of dollars, and so it is clear that a comprehensive auto liability policy can help protect against such a major financial threat.

Do you have such an auto insurance policy for each vehic

ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc

e you own?

· Would you consider having a home owners insurance policy a wise investment? If so, why?

Isn't it because a good home owners policy can help protect against major damage to your home f

easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi

rom fire, flood, and other disasters? Since a person's home is often their most valuable physical asset, it only makes sense to protect yourself against financial ruin that could arise if you had to

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

pay to completely replace your home after a major catastrophe. Such an expense could easily cost hundreds of thousands of dollars.

Do you currently have home owners insurance?

If you see the wisdo

and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ

in investing in both an auto and home insurance policy, what are the odds that you will have to use either of them to protect against a major financial threat in your lifetime? One in a hundred? On

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

in fifty?

Well, according to the U.S Department of Health and Human Services, the facts are that the odds that a person that is now 65 years of age will need some form of long term care is very si

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

nificant. Here is a quote from their website: "About 60 percent of individuals over age 65 will require at least some type of long-term care services during their lifetime. Over 40 percent will need

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

care in a nursing home for some period of time.....It is difficult to predict how much or what type of care any one person might need. On average, someone age 65 today will need some long-term care

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

ervices for three years. Service and support needs vary from one person to the next and often change over time. Women need care for longer (on average 3.7 years) than do men (on average 2.2 years).

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

While about one-third of today's 65-year-olds may never need long-term care services, 20 percent of them will need care for more than five years."

Since a three year stay in a nursing home fifteen

t?

As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel

ears from now will most likely cost just under a million dollars for a couple age 65, it can spell financial ruin for many folks who have worked hard to save carefully all their lives.

Now consider

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

that if you can see the wisdom in investing in auto and home insurance in order to protect your financial plans and goals, doesn't it make sense to complete the circle of financial asset protection

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

y adding long term care insurance, since the odds of your having to use it at some point in your life is so much greater than almost any other kind of insurance you may own?

If so, keep in mind tha

.

As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de

you can't get auto insurance to cover a major accident AFTER the accident has already happened, if you didn't have the insurance beforehand. Likewise, you can't wait to invest in home insurance unt

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

l your home is actually on fire and burning down, and expect to be covered.

In a similar vein, the time to invest in LTCi is when you are healthy enough to be able to qualify and keep the rates low

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

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White lies - the little ones that no one will ever find out about. We all do it...don't we? Are they worth the risk to the trust that you've established to your customers?

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