| Long term care needs are to be considered when | | | | choosing the best coverage possible. |
| young and not after aging. It is important to plan | | | | 5. Buy a long term care insurance policy that is |
| for health care when old early in life. | | | | qualified under the health insurance portability act |
| Long term care insurance provides protection and | | | | of 1996. Qualified policies are eligible for tax |
| care for the retired, elderly, and when unforeseen | | | | deductions and pay out tax free benefits. |
| health problems arise. | | | | 6. Buy a long term care insurance policy that is |
| Long term care insurance protects savings and | | | | guaranteed for life so that the policy cannot be |
| assets when illness that requires extended care | | | | cancelled if you fall ill. |
| occurs. Premiums for long term care insurance | | | | 7. The long term care policy you purchase should |
| are steep and you need to plan carefully when | | | | not require hospitalization. The policy should cover |
| purchasing an insurance policy. Extended | | | | home or nursing home care too. |
| hospitalization or nursing needs are rarely covered | | | | 8. Buy a long term care policy that is |
| by Medicare, Medigap or private medical insurance. | | | | comprehensive from a company that is reliable |
| The annual costs of a long term care insurance | | | | and has been in the business for several years. |
| policy could be between USD 400- 3000 a year. | | | | 9. Always check the insurer's financial strength |
| Here are a few suggestions from insurance | | | | ratings before buying a policy and also check |
| experts: | | | | whether the company has any consumer |
| 1. Take long term care insurance policy when you | | | | complaints. |
| are young say around 30. It's not just cheaper | | | | 10. Ask the insurance company to send you a |
| but protects from unforeseen incidents like an | | | | draft policy for reading through before buying |
| illness or accident. | | | | along term care policy. Read the policy carefully |
| 2. Think about group coverage instead of | | | | with a list of points that need to be checked by |
| individual. Ask your company whether long term | | | | your side. |
| care policies are offered as optional benefits. | | | | Buy a long term care policy knowledgeably and |
| 3. Insure yourself and the family: spouse and | | | | educate yourself by reading articles, tips, and |
| parents. | | | | guides available online written by insurance |
| 4. Think about aspects like waiting period, | | | | experts. |
| benefits, and so on. Take expert advice on | | | | |