Have you ever thought about who’s gonna take care of you
when you can no longer take care of yourself?
when you can no longer take care of yourself?
I know it’s scary but don’t worry because there are
different options that you can explore, which can take care of your healthcare
and long term care needs.
different options that you can explore, which can take care of your healthcare
and long term care needs.
The trick here is finding the right financial tool or
insurance product that can cover expensive long term care costs.
insurance product that can cover expensive long term care costs.
Getting long term care insurance policy is one of the
options you have. As a matter of fact, around 13% of Americans have already
purchased ltc insurance. This number is low given the fact that about 70% of
Americans 65 and above will require any form of long term care.
options you have. As a matter of fact, around 13% of Americans have already
purchased ltc insurance. This number is low given the fact that about 70% of
Americans 65 and above will require any form of long term care.
Adding up factors like high premiums, strict underwriting
and limited insurers lead to the decline in the number of people getting
coverage.
and limited insurers lead to the decline in the number of people getting
coverage.
Here are what experts have to say if one should get
insurance for long term care.
insurance for long term care.
Jesse Slome, the executive director of the American
Association for Long Term Care Insurance said that “it’s not one size fits
all.” Affluent consumers probably don’t need to get covered while those who are
financially challenged are forced to rely on government programs like Medicaid.
Those who are in between can consider ltci as a part of their retirement plan.
Association for Long Term Care Insurance said that “it’s not one size fits
all.” Affluent consumers probably don’t need to get covered while those who are
financially challenged are forced to rely on government programs like Medicaid.
Those who are in between can consider ltci as a part of their retirement plan.
Reid Abedeen, a partner in Safeguard Investment Advisory
Group suggests discussing this with a financial advisor. According to him,
“They need to evaluate everything working together versus just the investments
achieving growth.”
Group suggests discussing this with a financial advisor. According to him,
“They need to evaluate everything working together versus just the investments
achieving growth.”
Only a handful of people can afford paying for care
out-of-the-pocket due to the price hikes of long term care facilities so they
turn to getting a long term care policy.
out-of-the-pocket due to the price hikes of long term care facilities so they
turn to getting a long term care policy.
There are other insurance products available such as hybrid
policies and life insurance with long term care riders. But if you insist on
getting a long term care policy, then here are nine things you can consider:
policies and life insurance with long term care riders. But if you insist on
getting a long term care policy, then here are nine things you can consider:
1.
Explore the best option for you.
Explore the best option for you.
2.
Compare insurance products and make you
understand the fine print.
Compare insurance products and make you
understand the fine print.
3.
Find out if the companies are reliable.
Find out if the companies are reliable.
4.
Choose a policy that is affordable.
Choose a policy that is affordable.
5.
Don’t let your policy lapse.
Don’t let your policy lapse.
6.
Inform your family about your long term care
policy.
Inform your family about your long term care
policy.
7.
Apply for insurance for long term care early.
Apply for insurance for long term care early.
8.
Take advantage of policy features for couples.
Take advantage of policy features for couples.
9.
Review your long term care coverage yearly.
Review your long term care coverage yearly.
Visit https://www.altcp.org/expert-help-ltci-quotes
to receive expert advice from long term care specialists, ebook and long term
care insurance quotes from reputable companies for free.
to receive expert advice from long term care specialists, ebook and long term
care insurance quotes from reputable companies for free.