Answers - Insurance

You work hard all your life so you can have a happy, comfortable retirement. You might even feel confident with the knowledge that if you were to get sick or i

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

njured, you have the necessary assets to cover some long term care assistance as you age. This could be the very definition of planning for the future.

But ar

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

Examples of combination products may in

e you really financially prepared for serious long term care? Nursing home and in-home care can be very expensive. You could deplete a retirement nest egg in j

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

ust a matter of months. Without a long term care insurance policy, you’re paying right out of your own pocket for your long term care. Will your health or you

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

r finances give out first?

Many people believe that they can rely upon their children or grandchildren to care for them as they age. Surely, they can help car

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

Combination pro

e for you if you need long-term care. They might be more than willing to take on this job, too. But what happens when your caregiver goes on vacation, or just

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

needs a break? What if your long term care needs become constant and are more than your loved ones can provide?

Purchasing long term care insurance before yo

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

u need it helps to eliminate these risks. A long term care insurance policy gives you peace of mind that you will be well cared for, no matter what your assets

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

are, and without becoming burdensome upon your family. You might never need it, but as you hear about friends who were felled by a broken hip or stroke, and t

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

heir struggles getting or affording care, you will rest easy knowing you took charge of your health before it took charge of you.

Let’s say you have amassed a

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

nice retirement nest egg, but suffer a stroke. Hard to think about, sure, but strokes are common and can require long nursing home stays. The average annual n

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

Following aspects would a

ursing home cost per year is upwards of $60,000. If you live near a large, metropolitan area, the cost will be more. Even if you need just a few months of ca

dd to the challenges in developing combination products:

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

re, this is a large expense to shoulder. Add in other costs associated with your long term care and you could be talking a large sum of money, paid for out of

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

your pocket without a long term care insurance policy.

If you don’t have sufficient assets to pay for your care yourself, or the co-pays required by Medicare,

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

your family might end up shouldering the burden. Your children or grandchildren might have to pay for some of your long term care. If you think ahead, purchas

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

e a long term care insurance policy and plan for the future, you effectively protect yourself and your loved ones.

By purchasing a long term care insurance po

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

Professional from academic institutions, pharmaceutical industries, health care indust

licy before you need it, you not only give yourself peace of mind, you handle several problems simultaneously: You protect your precious assets; you give peace

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

of mind to family members who will handle your long term care; and you ensure that when and if you need care, not only will the costs of your care not deplete

.

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, but you and your family won’t even have to worry, as the bills are handled by your insurance company.

Long term care insurance policies can be expensive

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

Companies that provide selfless information through particip

(and they get more expensive if you wait until you are 65 or older to purchase one), but can truly provide peace of mind and pocket for the rest of your life.

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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Answers - Protect Your Health and Finances with Long Term Care Insurance

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