CHOOSING LONG TERM
CARE INSURANCE
A
little over sixty
percent of the folks
who reach 65 years
of age will need
some long term care,
and long term
care insurance
is a good idea. The
average nursing home
stay ranges from 2-5
years and costs on
average of $135.00
per day currently in
the United States.
These averages and
costs are going up
little by little
each year? Can you
afford to be without
long term-care
insurance? You know
there are over 35
million Americans
over 65 in the US
and that number is
rising also, this is
due to people living
longer and the
general trend in
demographics as less
people are being
born. It is the same
general argument
over social
security, which will
be fine depending on
which year you were
born, but for the
rest of us? Well, it
isn’t very pretty.
Some in the media
have begun to call
Social Security a
ponzi scheme, which
actually if my math
is right; is not so
far from truth. When
getting a long term
care insurance
quote, be sure to
check out if they
include the
following:
Most long term
care insurance
policies should
include things such
as:
Nursing Home Care
In-Home Assistance
with Daily
Activities
Adult Daycare and
Other Community
Based Programs
Assisted Living
Services; including
meals, health
monitoring and
transportation
Daily Nursing
Supervision for
those with Chronic
Illnesses.
The real issue is
the complete
disparity of
long term care
insurance
premium costs. It is
best of course to
buy such coverage
long before turning
sixty five if you
want any sense of a
good deal on the
coverage. The best
time to buy coverage
is between the ages
of 51-60 where the
average premium for
a good plan will run
you under $1000.00
per month. But you
need to do your
homework and shop
around. Additionally
it might be smart to
ask for an
“Inflation Rider”
which will protect
you from inflation
as the costs will be
going up in the
future, everyone is
quite certain of
that as the current
trends seem to be
pointing in that
direction.
If you are not
careful and do not
have such insurance
it is possible to
wipe out your entire
nest egg before you
pass and that means
no inheritance to
the offspring and
the last years of
your life in a
poverty type
setting. Please do
think on this. I
highly recommend
getting some long
term care insurance
quotes. It can save
you a lot of time
and money because
the premiums vary
greatly and it is a
good idea to shop
around
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