Long-Term Care Insurance Policies

by Lois Etienne on May 13, 2011

in Senior Health and Safety

Why buy long term care? LTC Insurance is like health insurance, it’s for really big events, the kind that could cause you to use up all your savings and assets. Working in this industry, we’ve seen it all. You may be like some people who haven’t personally experienced or had to watch life savings disappear paying for long term care and think that long term care insurance is expensive. The truth is, it’s not cheap but still pennies on the dollar compared to the out-of-pocket cost of long term care. So here are some reasons why you should buy LTC insurance.

To maintain independence and to avoid burdening your children, financially and emotionally

To assure your ability to get quality care in the setting you choose

To protect your retirement assets and stay in control of your life and your money

To protect your spouse’s lifestyle and financial security, while you’re alive and afterwards

To protect inheritance for your children and grandchildren

I guess you can tell which one I value the most. No one wants to be at the mercy of the government for their healthcare. No one wants to be told that they “have” to go to a nursing home. No one wants to be a burden on anyone else. I know that I want to age in place in my home and I’m planning now, at 56, on just how to do that. I’m remodeling my home to consider painful joints as I age. I’m setting aside money for retirement. And I bought LTC insurance ten years ago because I know what peace of mind it brings. My advice is always, get educated sooner rather than later…it will save you time, money or heartache eventually.

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