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Do You Have Long Term Care Insurance?

By Andrew Peters

Have you spoken to an expert about long term care insurance? If not, you are in the majority because most people do not enjoy speaking about the possibility that they will need at some point in their life long term care. But buying this type of insurance will be the best financial decision you will make.

What would you say is the average cost of extended care? Would you be shocked to learn that it is sixty thousand dollars per year? You will have to rely on the government to take care of you when you deplete your assets. At sixty thousand dollars per year, most people will run out of money fast.

You will need to deplete all your assets before you can turn to Medicaid. You will have to spend the equity in your home, your investments, and all net worth, before the government will support you. If the nursing home in your area does not have room for you, then you will have to go to the facility the government chooses for you.

It is time to shop for this policy if you are fifty or older. Of course the younger you are when you sign up, the less your premiums will cost. But this is not money wasted no matter what age you apply. The reality is that you will spend more for one year of extended care than you would ever spend on insurance premiums.

Many people put the decision off, but the younger you are, the better premium price you will get. This is not money wasted. One year of long term care will be much more than you will ever pay for the plan. Some put off the decision because they think they will never need long term care. Or if they do that their relatives will take care of them.

But it is better to have peace of mind rather than uncertainty. You cannot predict what might happen tomorrow. You might have an injury or disease that will make extended care inevitable. You could have the most loving family in the world, but you cannot count on them having the necessary resources to care for you until the end.

Be prepared for the worst case scenario. Call an experienced long term health care insurance agent today for more information.

For more information on how Long Term Care Insurance can help prepare us as we age. Also you can get a long term care insurance quote. We represent 20 of the top LTCi providers. This gives you tremendous options.

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Article Citation
MLA Style Citation:
Peters, Andrew "Do You Have Long Term Care Insurance?." Do You Have Long Term Care Insurance?. 6 Jul. 2010. 6 Aug 2014 <>.

APA Style Citation:
Peters, A (2010, July 6). Do You Have Long Term Care Insurance?. Retrieved August 6, 2014, from

Chicago Style Citation:
Peters, Andrew "Do You Have Long Term Care Insurance?"

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