Q: Is long-term care insurance something people will realistically need?  John Oxendine's response was summarized by...

     With healthcare  costs on the rise and people living longer having a long term care insurance plan in place is a major concern for people and their families.  Mr. Oxendine (State of Georgia Insurance Commissioner) said that: "According to the U.S. Department of Health and Human Services (HHS), about 9 million Americans, now 65 or older, will require long-term care. HHS expects that number to rise by 25 percent - to 12 million - by 2020. The average annual cost of nursing home care is currently estimated to be more than $74,000."

     A long term care need arises when people get to the point where they require assistance with the activities of daily living which are eating, bathing, dressing, toileting,transferring and maintaining continence.  Long term care insurance (LTCI) covers expenses for those diagnosed with a chronic illness such as Alzheimer's disease, Parkinson's disease, multiple sclerosis,diabetes or for someone who is simply old and cannot move around like they used to.  Many assume health insurance policies and Medicare will pay for long term care, but they simply do not. Medicaid provides limited long-term care benefits typically in a Nursing Home, but only after the person's assets have been depleted.

     A major consideration for purchasing long-term care insurance is whether a person has assets they want to protect.  Even large nest-eggs  can be eroded quickly due to the high cost of needing long term care assistance.  Long term care insurance is not right for everyone, especially if they don't have any assets to protect.  When deciding if long term care insurance is right for you and your family be sure to get at least three quotes from A+ rated companies.  At LTCtree.com we work with most all of the top carriers and will make your research process as efficient as possible.  we understand that you don't want some insurance agent sitting at your kitchen table for 3 hours so we will be happy to mail the quotes so you can review them at your own pace.  Please fill out the form below for your free long term care insurance quotes.