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Long Term Care Insurance Gives You A Sense Of Security

By Jeff Lafervor

None of us wants to think about becoming incapacitated and needing long term care. But it occurs. If you are a part of a married couple, you have a seventy percent chance of one of you needing long term care. If you are single, you stand a 40 % chance. These %s are certain to increase as baby boomers begin to age.

Long term care insurance can give you a confidence. Like medical care insurance, long term care insurance works to pay advantages to long-term care facilities. They will cover what Medicare and other insurance will not and let you retain your savings.

Most of us do not plan for long-term care and by the point we need it, it is too late. We can’t count on our kids being in a position to care for us. With so many people living well into their 80s and 90s, it is likely the’children’ who are to worry for them are of retirement age themselves. This can be too much of a burden for an older person to take, irrespective of how much they need to help.

As you have worked and saved all your life, you most likely need to be in a position to leave something to your children when you pass on. You don’t wish to end the last of your days on public help, in a long-term care facility that is too far away for your children to visit. But that’s what happens to folks all the time.

The way that long term care works is that you have to sign over all of your assets when you enter with an irreversible condition. When they are used up, you then go on public help. There’s no guarantee that the nursing facility will keep you once you’re a ward of the state. They can then transfer you to another facility that may be much further away.

You cannot count on Medicare to pay for your care. They’ll pay a fraction of what it will cost to look after you. And do you actually need your children or loved ones emptying their bank accounts to pay for your care?

If you plan ahead and get a long-term care health insurance program, you can be covered. These policies will pay $150 a day for your care for a four year period. You can use the cash when and if you need it. You can also get an inflation clause in your policy so the $150 that’s good for today will cover what it costs 20 years from now.

The amount you’ll have to pay for a long term care insurance policy will depend on certain conditions such as your age and general state of health. But planning ahead for this sort of care is essential if you’d like peace of mind and don’t need to worry about changing into a burden on your loved ones as you grow older.

Before you go out and buy a policy go to Long Term Care Insurance, ask questions and request 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:
Lafervor, Jeff "Long Term Care Insurance Gives You A Sense Of Security." Long Term Care Insurance Gives You A Sense Of Security. 9 Feb. 2009. uberarticles.com. 29 Jul 2014 <http://uberarticles.com/home-and-family/long-term-care-insurance-can-give-you-peace-of-mind/>.

APA Style Citation:
Lafervor, J (2009, February 9). Long Term Care Insurance Gives You A Sense Of Security. Retrieved July 29, 2014, from http://uberarticles.com/home-and-family/long-term-care-insurance-can-give-you-peace-of-mind/

Chicago Style Citation:
Lafervor, Jeff "Long Term Care Insurance Gives You A Sense Of Security" uberarticles.com. http://uberarticles.com/home-and-family/long-term-care-insurance-can-give-you-peace-of-mind/


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