Do You Have a Plan for Your Long-Term Care?

Do you have a well thought out plan in the event you will need long-term care?
Or are you like the majority of people who just do not want to think about it?
Will you end up needing home care, a nursing home or severely depleting your financial resources?
We find that one thinks about it when an unexpected event takes place which unfortuately casts a dark shadow on one's ability to make a Long-Term care game plan.
The odds of needing Long-Term care are staggering and the cost can be even more so. Many Americans hold the mistaken belief that Medicare and Medicare Supplemental Insurance will cover Long-Term Care but at best, Medicare will only cover a part or all of the first 100 days of care. The lions share of all Long-Term Care costs is paid out of your own pocket. Once those assets have been spent down to the applicable poverty level an individual may qualify for Medicaid...a government Long-Term Care program.
Against this backdrop, Long-Term Care Insurance (LTCI) has become one of the fastest growing insurance products in the country. Fortunately LTCI can be designed to fit almost any budget. Most LTCI policies share some common features you should know and should be looking for:
1. Benefit Amount: How much will the policy pay?
2. Benefit Triggers: When will the policy pay benefits?
3. Inflation Protection: Will the purchasing power increase?
4. Level of Care: Are Custodial and Intermediate Care covered, along with Skilled Nursing Care? Is Home Health Care covered?
As with any form of insurance, the policy is only as good as the ability of the insurance company to pay your claim. Check out the financial strength and reputation of the insurance company and seek counsel from a Long-Term Care Specialist. An independent agent can be objective in designing a plan that will fit your lifestyle as well as your budget.
For great information and to answer your questions, visit http://www.LongTermCareInsurancePros.com or for immediate answers call 949-854-3001.