Today I found the article “Time for a Closer Look at Long-Term Care Insurance” while doing some surfing. It’s a good primer on long-term care insurance, particularly for those who are younger. I say that because of this statistic:
58% of claimants under long-term care policies are under age 65.
Most people think LTC is for folks in their 80s. Increasingly, this is not the case. As the article states, the number one cause for claims these days, according to Unum, is cancer. With other carriers, it is dimentia. I believe each carrier will have different exposures, but the point remains that young people are vulnerable to disasters where having an LTC insurance policy would be a benefit.
Look at LTC As Soon As You Are Comfortable
Let’s face it, Long-Term Care Insurance is expensive. You should make it a priority once you have other things taken care of financially. Because the poor qualify for Medicaid, LTC insurance is designed more for the middle class and middle-upper class. Above that, you’ve got the cash to self-insure. Do not consider long-term care insurance if you are not financially stable. While you need to look when you are healthy, you don’t want to be insurance poor.
Continued Reading:
It’s an election year. This article is relevant:
Election 2008: Long-Term Care? Huh?
McKnight’s Long Term Care News – New York,NY,USA
Interestingly enough, it is the first time since 1996 that the platform hasn’t called for private long-term care insurance, according to AAHSA. …
Answers to a common question many have.
Does social security cover nursing home care?
HealthCentral.com – Arlington,VA,USA
Some long term care insurance policies will also cover your mother’s care, if she has an existing policy. It is recommended you tour a few facilities before …
