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Long Term Care Insurance: “You might be young today, but old age will come in eventually”. Old age brings in a lot of health and functional limitations for which you’ll need the services of a healthcare professional or a non-medical nurse. Even if you are acutely ill you might need help with your daily activities like bathing, dressing, etc which you’ll need assistance for. Long term care involves years of expenditure which is quite a lot for many people.
We generally tend to overlook long term care. Most of our health insurance coverages concentrate on short term specific illnesses. The new health care bill does not offer much on long term care. Here’s an interesting read from Prime Targeting on what the government health care bill has got for long term care.
Long Term Care Insurance some reasons-
You have so many reasons justifying why you should take Long Term Care Insurance. You might be apprehensive about how much the insurance will cost and if you’ll be able to afford it. Secondly, you’ll want to know about the correct policy for you.
Thirdly, you’ll want to know about all the options that are available for your Long Term Care Insurance. Your insurance advisor is the best person to equip you with the best advice about long term care and he/she can show you reliable resources also. Here are some tips that you can heed when making your long term care insurance choice.
Nowadays, many insurance companies offer long term care coverage. The scheme that you choose depends upon your age, health, and the insurance level that you are seeking. Many of these come with protection against inflation.
Refundable premiums are another benefit that you can look forward to. There are insurance policies that allow you to take lump sum cash for meeting your long term care expenses. There are others which make payments to you on a monthly basis.
The death benefit long term insurance enables you to pay up for your long term care without actually touching the cash value. If you are healthy till the end and don’t spend on long term care, you can use the cash for other purposes.For availing Long Term Care Insurance you should start off with good health. But there are some health conditions that are acceptable. You should check out with your insurance advisor on those.
Hurry with your decision to take Long Term Care Insurance because as you grow older and your health condition deteriorates, the premiums will become higher and also you might be denied insurance due to poor health conditions. Now you are young and don’t know how it feels to take care of yourself during old age. Now you might be happily jogging your way in the recreation park, but a time might come when you’ll want assistance even for walking steadily for a moment.
Do you know how you’ll feel without assistance then? Won’t it be a better idea to save up for your assistance then, so that when you are seventy, old and weak, you can afford to have someone by your side to take care of you?