Long Term Care Insurance FAQ

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What is long term care?

Long term care is designed to cover the cost of services that may be needed beyond medical care and for a long time. Long term care can be expensive and having insurance can help when you need such care.
Related reading:

Long Term Care Insurance: Coverage for Daily Care

When should you buy long term care insurance?

The best time to buy long term care insurance would be middle age. Anyone can need long term care at any time. Hence, it is better that you get this insurance as soon as possible and at a time when you can also get lower rates.
Related reading:

Buying Long Term Care Insurance

Long term care insurance

Is long term care expensive?

Long term care insurance may be expensive. But with the growing cost of health care it is a good idea that you have this insurance.
Related reading:

How do I pick an Ltc plan?

How expensive is Long Term Care Insurance?

Who is eligible for long term care?

Anyone may buy long term care insurance. It is difficult to predict exactly what will happen to you in future. So any adult may be eligible for long term care insurance.
Related reading:

Qualifying age for Long term care insurance

Should you apply for long term care after 40 years of age?

Experts say middle age is the best time to get long term care insurance. Premium rates may be lower too.
Related reading:

long term disability insurance

Should you go for Medicare or LTC?

Medicare usually pays only for skilled nursing home facility or home health care that is medically required by the patient. It does not pay for long term care.
Related reading:

Long Term Care or Medicare - Which is better?

What are the long term care factors to consider before buying?

You must know that you can afford a certain policy before buying it. Hence, it is important that you take into consideration the factors that can help analyze your need for long term care.
Related reading:

long term care insurance factors to consider before buying

What is Federal Long Term Care Insurance?

The Federal Long Term Care Insurance helps pay for care when you need assistance with daily activities or if you have any serious cognitive impairment.
Related reading:

Federal Long term care insurance information

Will disability cover long term care?

Disability insurance does not cover long term care. It is designed only to replace a portion of your income when you are unable to work and as a result generate regular income.
Related reading:

disability coverage - is it really important?

How can you reduce long term care cost?

Long term care can be expensive. However, there are ways by which you can reduce the cost of long term care insurance.
Related reading:

Long term care costs

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Posted: Tue Mar 17, 2009 12:55 pm Post subject: Assessment of Long term care needs..

Hi, How do I assess my long term care needs? I'm sure a proper assessment would give me a clear idea of what I need and what not! BarbieL _________________ Register Now to have your Insurance queries solved.

BarbieL
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Posted: Tue Mar 17, 2009 10:34 pm Post subject:

Are you looking to determine what your long term care needs are going to be for yourself? Or are you also considering taking care of a parent, spouse, or loved one? How old are you currently? Long Term Care needs are something that many people think aren't going to be important until they reach their "Golden Years." However, I've see on this very forum an example of a 30-something year old who was involved in an accident and was admitted to a skilled nursing facility for rehab and then had care afterwards at his residence. Long Term Care is not just about nursing homes...it includes nursing home care, home health care, adult day care, assisted living, and respite care. Many of the illnesses that used to be considered "Terminal" are no longer causing death the way they used to. Heart Attacks, Strokes, Etc are leaving people disabled...but alive. As people are living longer, there are more chronic conditions such as dementia, alzheimer's, arthritis, diabetes, strokes, etc. In my presentation to a client, I explain that 44% of men who turn 65 are going to require some type of care...and 72% of women will as well. The question to ask yourself is what effect could some of these issues and some of these types of care have on your family and loved ones? There are so many wonderful programs out with skilled care givers and home health services...and they can do wonders to keep family life "liveable!" Most people rely on Medicare, but don't realize that Medicare does not pay for assisted living. To give you an idea of the costs that may be involved...it's normally 1500-4000 a month depending on services and depending on location. Even things such as transportation, meals, homemaker services, etc. can be covered with a long term care policy. If your long term care costs were ~$80 a day...that would eat up $29,200 a year. The national average is estimated at about $56,000 a year. Could your personal assets really afford these expenses? The reasons that I suggest someone purchase Long Term Care Insurance are as follows: 1. To preserve dignity and family relationships 2. To avoid being a burden on children or spouse 3. To preserve independence and avoid welfare 4. To protect assets and have an estate for heirs 5. To avoid spending life savings and leave debt A personalized proposal needs to look at the availability of your family to proivde support, review the types and costs, and also see if you're medically / financially qualified. If you have any questions...feel free to contact me!

ChrisBantly
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Chris Bantly

Joined: 11 Mar 2009
Posts: 381

Location: Upstate SC
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Posted: Wed Mar 18, 2009 2:21 pm Post subject:

Quote:

Even things such as transportation, meals, homemaker services, etc. can be covered with a long term care policy.

I'd just like to know if most of the ltc carriers would offer you with a coverage for the above mentioned services. I understand that if we'd add up the cost of assisted living to that of our medicare costs, it would be quite expensive. So I'd definitely agree that ltc could be a good option for many.
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anonymous00
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Posted: Thu Mar 19, 2009 12:49 pm Post subject:

Well..an assessment of your ltc requirements would be based on your primary needs - both emotional and physical. It would surely involve an evaluation of the following- * Physical capabilities and medical care necessities * Emotional and Social requirements * Environmental requirements * Financial requirements Purpleheaded08 _________________ Register Now to have your Insurance queries solved.

Purpleheaded08
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