Long Term Care Insurance Can Provide You With Peace Of Mind
None of us wants to think about becoming incapacitated and needing long term care. But it happens. If you are a part of a married couple, you've got a seventy percent chance of one of you needing long term care. If you are single, you stand a 40 % chance. These pc.s are bound to increase as baby boomers begin to age.
Long term care insurance can give you a reassurance peace of mind. Like medical insurance, long term care insurance works to pay benefits to long term care facilities. They'll 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 when we need it, it is too late. We cannot count on our youngsters being able to care for us. With so many of us living well into their 80s and 90s, it is likely the'children' who are to care 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 want to be able 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 kids to visit. But that's what happens to folks all of the time.
The way that long term care works is that you've got to sign over all your assets when you enter with an irreversible condition. When they are used up, you then go on public aid. There is no guarantee the nursing facility will keep you once you are 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 fragment of what it will cost to take care of you. And do you really need your children or family and friends emptying their bank accounts to pay for your care?
If you plan in advance and get a long-term care health insurance plan, you may be covered. These policies will pay $150 a day for your care for a four year period. You can use the money when and if you want it. You can also get an inflation clause in your policy so that the $150 that is good for today will cover what it costs twenty years from now.
The amount you'll have to pay for a long-term care insurance policy will depend on certain conditions like your age and general state of health. But planning ahead for this sort of care is crucial if you want confidence and don't desire to need to fret about changing into a burden on your loved ones as you age. - 23211
Long term care insurance can give you a reassurance peace of mind. Like medical insurance, long term care insurance works to pay benefits to long term care facilities. They'll 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 when we need it, it is too late. We cannot count on our youngsters being able to care for us. With so many of us living well into their 80s and 90s, it is likely the'children' who are to care 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 want to be able 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 kids to visit. But that's what happens to folks all of the time.
The way that long term care works is that you've got to sign over all your assets when you enter with an irreversible condition. When they are used up, you then go on public aid. There is no guarantee the nursing facility will keep you once you are 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 fragment of what it will cost to take care of you. And do you really need your children or family and friends emptying their bank accounts to pay for your care?
If you plan in advance and get a long-term care health insurance plan, you may be covered. These policies will pay $150 a day for your care for a four year period. You can use the money when and if you want it. You can also get an inflation clause in your policy so that the $150 that is good for today will cover what it costs twenty years from now.
The amount you'll have to pay for a long-term care insurance policy will depend on certain conditions like your age and general state of health. But planning ahead for this sort of care is crucial if you want confidence and don't desire to need to fret about changing into a burden on your loved ones as you age. - 23211
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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.
posted by X - Men @ 1:29 AM
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