| You may be concerned about insurance coverage | | | | Like most health insurance, long term |
| in your old age. It's hard to predict how | | | | insurance only covers care from a specified |
| long you'll live, whether you'll end up in a | | | | network of providers, hospitals and nursing |
| long-term care facility or nursing home, or | | | | homes. Some types of policies and companies |
| just need aid in your own home. If you do, | | | | cover percentages of your future health care |
| how will you pay for it? Many people choose | | | | costs, while others offer a fixed amount for |
| to buy long term care insurance, but how do | | | | each day of care. Be cautious in your |
| you know whether this is right for you? And | | | | choices, and be certain that the long term |
| how do you choose a provider and type of long | | | | care insurance you choose includes inflation |
| term care insurance? It's important that you | | | | protection, as you can't predict how much |
| don't choose the wrong type, or an unreliable | | | | each day of care will cost decades in the |
| insurance company. | | | | future. |
| | | | |
| The first thing to consider is the cost. If | | | | It's important to consider any pre-existing |
| you struggle to pay your everyday expenses | | | | conditions you may have, as many long term |
| and monthly bills, or if your only form of | | | | care insurance companies will charge you |
| income is Social Security, then the last | | | | extra or even not accept you at all. You |
| thing you need is to add another monthly | | | | should also look into what sort of care is |
| payment to worry about. After all, there's no | | | | covered by the policy. Typically long term |
| point in paying for it now if you have to | | | | care insurance is much more limited in its |
| cancel it later, before you ever get to enjoy | | | | network of providers than traditional health |
| the benefits. However, if you have enough | | | | insurance. As you are planning for the |
| assets and a chunk of money in the bank, or a | | | | future, be sure to select a reputable company |
| significant long-term income, it's probably a | | | | that's been around for a long time. There is |
| wise investment, as long term care insurance | | | | no point in giving your money to a company |
| will help you to remain financially | | | | that goes out of business long before your |
| independent after you begin to need a bit of | | | | old age. |
| help with everyday living. Your family | | | | |
| members will be grateful that you planned | | | | And don't forget to read the fine print. If |
| ahead. | | | | you don't understand some of the terms used, |
| | | | make sure your insurance broker explains them |
| So how do you decide what type of long term | | | | to you clearly. It's your own health; look |
| care insurance policy is right for you? | | | | after yourself and you won't regret it. |
| | | | |