It's difficult to watch ourselves age. It's also difficult to watch our parents age. It's even more difficult when it comes to figuring out how to help them when the time comes. This type of help can be anything from some financial assistance, a few trips to the doctor's office, or helping them find a long term care facility they - or you - can afford. Perhaps you and your parents should have considered buying some long term care insurance years ago. But what is long term care insurance?
In short, it's probably one of the best investments you can make at any age. Of course, the younger you are when you buy it, the lower your premiums. But what 30 year old seriously considers his old age and associated health problems while he's young and healthy? Not many!
And so we wait, usually until it's too late. By the time we see that our spouse might be needing some rehab or nursing services, the actual insurance premiums can be prohibitive.
Long term care is probably one of the most affordable types of insurance when you think about what you pay vs. What you get. Policies range from basic care for less a year, to a permanent facility.
The policies can be customized to your needs, or at least, what you think these needs might be. Even though it's impossible to tell the future, you can always get a good idea of what you should add to these policies simply by understanding your family's medical history. If your family has a history of coronary heart disease in their 50s, you should seriously consider the best possible coverage if at all possible. In reality, you can't afford not to.
Depending on the insurance company will depend of course on your policy now, and what type of add ons and options you are able to buy at later dates. For instance, if your 62 year old husband is in a head on collision and you find that he will need extensive long term care, you may or may not be able to increase your policy to suit the current situation.
These policies can provide an incredible amount of financial help when the time comes. With long term facilities averaging over $500 a day, not many regular insurance plans will cover these for more than a few weeks - no matter what.
In short, it's probably one of the best investments you can make at any age. Of course, the younger you are when you buy it, the lower your premiums. But what 30 year old seriously considers his old age and associated health problems while he's young and healthy? Not many!
And so we wait, usually until it's too late. By the time we see that our spouse might be needing some rehab or nursing services, the actual insurance premiums can be prohibitive.
Long term care is probably one of the most affordable types of insurance when you think about what you pay vs. What you get. Policies range from basic care for less a year, to a permanent facility.
The policies can be customized to your needs, or at least, what you think these needs might be. Even though it's impossible to tell the future, you can always get a good idea of what you should add to these policies simply by understanding your family's medical history. If your family has a history of coronary heart disease in their 50s, you should seriously consider the best possible coverage if at all possible. In reality, you can't afford not to.
Depending on the insurance company will depend of course on your policy now, and what type of add ons and options you are able to buy at later dates. For instance, if your 62 year old husband is in a head on collision and you find that he will need extensive long term care, you may or may not be able to increase your policy to suit the current situation.
These policies can provide an incredible amount of financial help when the time comes. With long term facilities averaging over $500 a day, not many regular insurance plans will cover these for more than a few weeks - no matter what.
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Before you go out and buy a policy go to long term care insurance. We represent 20 of the top LTCi providers. This gives you tremendous options.
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