When to get Long Term Care Insurance
It is hard to think about people you love not able to live on their own. As hard as it sounds, this has to be one of the smartest decisions you will ever make. The estimated cost of end-of-life care has gone considerably high and many insurance policies including the health and disability insurance might not cover this for you.
Care for the future
If you are the one you love, at some point in life find it hard to take care of themselves due to old age or disease, you will need somebody to do it for you. The nest egg that your preciously saved all these years might not last. This is when long-term care insurance assists you.
It is a wise idea to invest in the policy before you turn fifty. After that, it might become a little tough getting a good policy considering the debilitating old age conditions.
Why invest in a Term Life Insurance
There are many reasons why a Term Life Insurance will interest you!
Investing in long-term care insurance means you will be able to save all the fortune you have made working hard all these years. It doesn’t take much for that nest egg to get depleted fast.
To give a clear picture, a semi-retirement nursing home costs anything around $90,000 a year. It might not be possible to fetch it all out of your pocket
A government-run program might not be able to offer you varied choices when it comes to nursing care. A good policy can give you a better prospect. The more you pay for the quality, the more care you are going to get. A good long-term care insurance cover
- Nursing home care
- Adult daycare services
- Assisted living facilities
- Home modifications
- Care coordination
- In-home care
Types of Term Life Insurance
Term Life Insurance can be broadly categorized into two:
Traditional long-term care insurance
This policy can help you cover all the expenses that you incur in a quality nursing home. The insurance premium can bail you out and you can always use an inflation rider to increase your benefits. The policy is in action just when you are unable to perform any two of the six routine activities including dressing, eating, transferring to a wheelchair, bathing, etc.
Hybrid lifecare policies
One of the most popular options is a mixture of life insurance with the life care policy. You can access the death befit while you are alive and able to pay for long-term care. In case you do not need any care, the amount can go to your beneficiaries in full.
Our insurance solutions are customized as per your needs. We can ensure policies from all the A-rated insurers so that you can end up with multiple options of the same policy. You can choose what suits you the best.
Life term care policies are all about trust. You are looking for a support system that won’t let you down and you will be able to get the best nursing care facilities without having to deplete all your resources. We are here for you. Contact our representatives in case you want any assistance, or you have any query. We are glad to assist
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