Long-Term Care Insurance-Your Quick Guide

Here is a quick guide to Long Term Care Insurance:

It's what you must know about LTC to move you off the fence and into learning about what it is and what it can do for you and your family.
I know that most do not find the subject of insurance that interesting and nobody likes to think about Long-Term Care. But, here are some quick facts.

• Long-Term Care can happen to you. I am sure you hear about it every day. As we get older, all of us may need help and a stroke, Alzheimer's or even a bad fall can leave you debilitated and unable to care for yourself.

• If you need long-term care, you will probably have to pay for it out of own savings. If you are legally impoverished, government programs like Medicaid may cover your nursing home care.

• The bill for Long-Term Care is not cheap. According the Met Life Cost of Care Survey in 2007, the national average daily rate for a private room in a nursing home is $213 or $77,745 annually. The rate for a caregiver is around $18-$20 hour which adds up to thousands of dollars a month.

• Long-Term care insurance can be an affordable alternate to using your savings to pay for care. However, it's not right for everyone. People that already have severe health conditions may not qualify for coverage and if you are retired, with less than $70,000 in savings, purchasing insurance is probably inappropriate.

With all this being addressed, your Long-Term Care planning will be simplified with a Long-Term Care Specialist. He will help choose the carrier that will get you the best rate in designing a Long-Term Care plan that fits your needs.

Do you have a plan?

Give me a call or send an email to dane@LongTermCareInsurancePros.com to get started.

Got more Questions?