Reviewing Your Long Term Care Insurance

Are you or someone you know disabled or in need of daily assistance? Now might be a good time to review Long Term Care Insurance. Long term care refers to the assistance with everyday activities required by persons with physical or cognitive impairments. It also applies to the type of daily medical care required by persons with an acute or chronic condition.If you or a family member have need long term care, you know the costs associated with it are staggering. In 2010, the average cost of a room in a nursing home was more than $83,000 a year. Have you reviewed your finances recently? Can you handle the costs of long term care?

It is important to get a Long Term Care policy 25-30 years before the policyholder may have need of it. This may seem unnecessary, however, purchasing a long term care policy when you are young and in good health will help keep your premiums low.

When reviewing your options for a Long Term Care Insurance policy, go through an agent (as opposed to buying directly from an insurance company). But make sure the agent you choose offers policies from multiple insurance companies. Because the same amount of coverage can vary in price from one insurer to the next, it pays to shop around.

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