Long Term Care Insurance Helps Pay for Medical & Non-Medical Services

As we get older, the likelihood increases that we will need some type of medical and/or non-medical personal care. Indeed, people may need long term care: numerous services that help meet the medical and non-medical needs of people with chronic illness and/or disability who are unable to care for themselves over lengthy time periods. Such services often include assistance with normal daily tasks like getting dressed, bathing and using the bathroom. Such long-term care can be provided at home, in the community itself, in assisted living facilities and/or in nursing homes. So are you seeking long-term care insurance near me or wondering about long-term care insurance rates?

On average, the need for safe and effective long term care services persists for several months or even years rather just weeks, and can thus be really expensive. To wit, the average costs of such LTC surpass $50,000 annually (www.longtermcare.gov); yet, generally speaking, Medicare, Medicare Supplement insurance and/or individual under-65 medical insurance plans do not cover such long term costs. Long Term Care coverage was developed for exactly the purpose of providing necessary financial protection against the long term care expenses that other insurance policies fail to cover.

Ask Yourself: If You Need LTC services, Then What Financial Resources Could Be Utilized?

Do you have the required savings to pay for Home Healthcare for six months or a year or even longer without such expenses overburdening your current or desired lifestyle? If not, then LTC insurance may be a good option to explore!

A Long Term Care insurance policy, based on your particular medical and/or non-medical care needs, will pay a daily or monthly benefit amount to cover some or all of the LTC expenses: Some plans will pay benefits for up to a pre-stated time period (such as three or four years) while others will cover costs until a pre-defined maximum dollar amount has been paid out (such as $150,000, for example). Most such policies have options for daily, monthly and/or maximum policy benefits to increase automatically every year in order that the level of coverage keeps pace with inflationary health care costs.

Given Life's Uncertainties, It Is Never Too Early to Consider Long Term Care Coverage

• The younger you are when purchasing Long Term Care insurance, then the lower the regular premium cost.
• Once you have LTC coverage, it is guaranteed renewable for life; meaning the policy cannot be cancelled so long as timely premium payments are maintained. Conversely, should you become too unhealthy to qualify for obtaining it a given time, then you are unlikely to ever be healthy enough to qualify down the road.

Therefore, if you are 45 years of age or older and do not already have such LTC coverage in place, then Bob Morgan Insurance near Orlando FL encourages you to learn more details now! Contact licensed insurance specialist Bob Morgan.