Long term care insurance can help pay for a variety of long term care needs. Don't wait until you're a senior
citizen in need of living assistance to learn about this valuable insurance.
Should you consider purchasing long term care insurance?
It's no mystery that Americans are living longer. As people become
more aware of and apply sound, healthy principles to their lives,
they live longer, healthier, more vibrant lives.
But it's that confidence that they'll live a long, vibrant life
that leaves many Americans lacking in one crucial area: planning
for the possible setback. The unfortunate fact of aging is that
as we get older, most of us need some help with everyday tasks.
While friends and family can often pitch in, what if you develop
the need for professional long term care? Are you and your family
members ready financially for such a blow?
If not - and the unfortunate answer is 'no' for most people - there
is a powerful and increasingly popular solution called long term
care insurance. By purchasing a long term care insurance policy,
you cover yourself and your family in case the difficult "what
if" scenario becomes real.
Long term care insurance is simply an insurance policy designed
to cover the long term care costs of assisted living facility or
full nursing home. Many policies also cover the costs of an aid
for in-home care for those with lesser assistance needs. Though
generally designed for the person over the age of 65, many people
are purchasing the policies at younger ages to keep the premiums
lower, and , if needed, can utilize its benefits anytime even before
the age of 65.
A person might need long term care (and therefore use their long
term care insurance policy) when they need help with a variety of
tasks, which might include: using the bathroom, managing pain, eating,
attending to personal care, walking and bathing. Experts say that
more than 60% of all people will need help with simple tasks like
these at least once in their lives. The need might arise from a
variety of factors including temporary long term care sought after
an injury, during recovery from a surgery or illness, or during
a terminal medical condition. Though seniors will comprise the bulk
of people needing long term care, many younger people will require
temporary long term care in their lives as well. Long term care
insurance policies can help with all of these things.
Ongoing long term care (which might be required for months or years)
encompasses - among other things -- chronic medical conditions,
senile dementia, and permanent disabilities. A long term care insurance
policy can help pay for services relating to these needs as well.
Your long term care insurance can pay a part or full share of daily
nursing home costs or help offset or pay the full cost of in-home
care. It might give an older person the advantage of living at home
with all its comforts while receiving in-home care, rather than
living in a nursing home paid for by the government. It can provide
the comfort of choice and peace of mind to the patient and his or
her family members.