LONG TERM CARE INSURANCE:
Long term care is one of the greatest uninsured risks among Americans today. Planning ahead for potential LTC expenses can relieve the entire family of unnecessary financial and emotional burdens. LTC is extended care that includes both medical and non-medical services provided in a patient's home, nursing home, or assisted living facility. Long term care refers to a broad range of medical, personnel or environmental services designed to assist individuals who have lost their ability to remain independent. LTC insurance is the safety net that supplements America's unraveling health care system. Unlike Medicare or most private insurance plans, which pay for the hospital stays or doctor visits, LTC insurance pays for the cost involved in providing for long term convalescent and custodial care.
Long term care is now one of the most important insurance issues to consider for your future financial stability. The cost of staying in a care facility or even home based care, can cause financial havoc within a family and can very quickly deplete a lifetime of savings in a very short period of time. If your are not prepared for the future, the decision of what kind of facility, the dollars available, or ever where to go may be taken out of your hands and put into the hands of your children or worst yet the appointed guardian of your estate.
With long term care insurance you take control of your own future and destiny and you will be able to pass on the legacy that you work so hard for.
Long term care is not just for the elderly. Unfortunately accidents happen to young and old alike. The cost of a incapacitating accident or illness coupled with a loss of income can destroy a household . With the proper long term care policy in place you can be assured that 1.you will get the care you need, 2. you will have enough funds to either bring the proper care personnel into your home or go to a quality care facility. 3. have piece of mind that your family won't be financially destroyed.
Long term care in 2004 dollars can run between $40,000 and $80,000 a year Can any household withstand that kind of loss for any length of time? You can customize your long term care policy to fit your needs and finances. You have the options to choose the dollar amount per day you think you will need in the future, the length of time you will think you will need care for i.e. 3 years 5 years or lifetime. We even have a rider that will return all premiums to your heirs if you don't ever have to use the policy!
LTC insurance is now recognized as an important part of a solid financial plan. We are all living longer and it is really a case of WHEN you will need long term care not IF!
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