Long-Term Care Insurance: Yes or No?

Sharing the pros and cons of long term care insurance is a great way to show people how this can greatly benefit them in the future and the price they have to pay in the future. Sure there are cons in purchasing ltc insurance but for me, it’s still a wise move to purchase one. Why? For a very simple reason. The cost of care is skyrocketing and it’s a lot cheaper to buy ltci instead. It’s possible to bring your premiums down by exploring your options like taking advantage of discounts, buying early and designing a smaller policy. You can see other ways to save on long term care insurance premiums here: http://www.ltcoptions.com/long-term-care-insurance-costs/

Find Your Balance

174932498As you get older, there are a few advancing numbers that should concern you even more than the amount of birthdays you’ve had: life expectancy averages and the cost of long-term care. Without a plan in place to deal with these factors, you may find yourself – or your family members – paying hefty sums to make sure you have the attention you need in the final chapter of your life. Long-term care, a term used to describe services to help you cope with extended illnesses, disabilities or cognitive problems, is typically covered by neither health insurance nor Medicare. As such, many people purchase long-term care insurance to help offset the burden of paying for these services. But in some very important ways, long-term care insurance is different than other types of insurance and should be decided on only after considering its advantages and disadvantages.

Pros

  • A long-term policy can…

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