Long Term Care Insurance – What is LTC Insurance and Who Needs It?

Many people don’t know what long term care insurance is or maybe they don’t feel it is something that they should look into at this point in time. However, ltc insurance is something that everyone needs to consider as they get older and can’t be put off until they need it because at that point it will be too late to purchase it. Here are the basics of long term health insurance and some tips for purchasing it.

What is LTC Insurance?

Ltc insurance is needed when a person can no longer perform daily living activities alone such as bathing, eating, dressing, using the bathroom, or getting out of bed or a vehicle. This type of insurance is designed to cover the costs of caring for a person in the case that they become unable to do so themselves.

Who Should Purchase LTC Insurance?

Most professional recommend that people between the ages of 5o – 65 consider purchasing a policy. Many people who purchase a long term health policy may never need it, but if you do not purchase it and end up needing long term care you may find yourself in a financial crisis. If you are nearing 50 or are between the ages of 50 – 65 you may want to do some research and compare some long term care insurance quotes.

What Will an LTC Policy Cover?

A will typically cover visiting nurses, nursing home care, in home help with daily living activities such as bathing and dressing, and assisted living services. A regular health insurance policy will not typically cover these types of expenses, which is why everyone should consider purchasing long term care insurance at some point.

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