Is Long Term
Care Insurance Right for you?
There is no one rule to determine who should
buy Long Term Health Insurance. The decision is based on your long
term care needs and several factors:
- Your age.
Are you in your mid 50's or early 60's?
As you get older, there is an increased risk that you may have
health issues and become uneligible for long term care insurance.
- Your income & personal assets. Do you want
to protect your assets? and How much do you want to
leave to
heirs?
The National
Council on Aging suggests that persons with at least $75,000
of assets (excluding home & auto) and a retirement income
of at least $35,000/year should consider Long Term Care insurance. However,
you should not buy a policy if you can't afford the premiums.
If you have $1million+ in assets you may want to consult insurance
specialists or a financial advisor to
determine
if
you
need
health insurance coverage.
- Your personal health or your family's medical history.
Does
longevity or a chronic disease run in your family history?
- Your marital status.
If you're single, will you be able to cover
for long term care yourself? If not,
long term care
insurance
may be right for you.
If you're married, will you be able to cover
for long term care without being a financial burden to your spouse?
If not, long term health
insurance
may be right for you.
- Your retirement planning: your
retirement goals, desire to stay independent, and not
burden your children.
- Are you able to care for your own
personal needs as you age: bathing, continence, dressing,
eating, toileting,
and
transferring.
Can you afford the costs of long term care on your own? Researching
estimated cost of long term care in your area will help determine
if you have enough saved or whether you should consider buying long-term
care insurance.
If you still have questions
about determining your need for Long Term Health Insurance, speak to a Specialist by email: service@LTCiGuide.com or
phone 1-888-430-0002.
This site was created to assist
you in comparing different policies and provide quotes from multiple leading insurance carriers.
We can help you
save money
on long term
care
insurance.
Request Quotes today.
|
