How To Find Long-Term Care Insurance

Long-term care is available in the United States and the United Kingdom and you need to check whether or not it is available in your area. This usually covers things uncovered by your health plan (e.g. Medicaid, Medicare, Etc.) over and beyond a predetermined period. Those who purchase long-term health care are not necessarily individuals who are sick in the strictest sense but those that are not able to perform ADLs (Activities of Daily Living) like walking around, going to the toilet, dressing one’s self, eating, etc.

Everyone gets old. You need to make sure that when you do, you have nothing to worry about when it comes to cash and somebody has to take care of you if the kids you raised won’t or if you have no one willing to take care of you in your golden years. Here are the statistics on this matter as of 2009: (1) 49% of people who are at least 65 years old and above will need long term care insurance before they move on to the next life – New England Journal of Medicine; (2) 50% of seniors 85 years old and above have Alzheimer’s or other forms of dementia that becomes the primary reason for needing long-term care insurance – Wall Street Journal; (3) People are living longer (men – 80.9 yrs and women – 84.5 yrs) once they are able to reach the age of 65 but they will still need some form of health care before they pass away – Harvard Magazine.

Here is a list of websites that can help in your search for proper health care:

  3. (this one provides tips on how to avoid fraud)

Here are some tips to find long-term care insurance on your own:

  • Start looking for the right long-term care insurance for you. You have to start thinking of the future and finding the right company for your insurance is your first step. You have to realize that companies offer almost the same benefits but you have to remember that each one of them offers a unique feature. It is your responsibility to study these insurance plans because in the end, it is you who will benefit from this.
  • Look for the insurance that best suits you. Long-term care insurance usually covers the expense of assistance in your home activities such as dressing, bathing, eating and cleaning. It may also cover health assistance for you, it is up to you to see what plans you really need, and what you plans that you do not need.
  • The daily or monthly benefit is the amount of cash the insurance conglomerate will pay for each day or month you are protected by a long-term care policy. If the expense of care is more than your monthly benefit, you will need to compensate the balance.
  • Purchase a group policy. You can see that you will pay lower premiums compared to purchasing long-term care insurance on your own. Companies offer discounts for group applications.
  • Determine your period of benefits. This determines how often you will receive your benefit. It is always good to receive benefits in short-interval basis. A monthly basis plan is usually available in insurance companies.
  • It is good to purchase health care insurance to companies that offer inflation security. With Health care expenses increasing every year, purchasing a policy without a protection is more likely getting a policy that will not cover most of your costs.
  • Know your policy. Make sure that you know the facts and details about your policy, your monthly or yearly rates and all the compensations that you will get. This is important because this concerns you, and you are paying for it and you need to receive everything that you had paid for.

It is advisable to purchase long-term insurance at a young age because it is cheaper, but also you need to pay longer before you can actually use it.


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