Long Term Care Guide Published

Chicago (InsuranceAgents.com) – All adults enjoy the independence that comes with growing old but once you reach the age that you have to become dependent on care and assistance, long term care insurance should be considered.

However, long term care insurance isn’t for everyone. According to an article posted on InsuranceAgents.com, if you are wealthy enough to afford assisted living expenses out-of-pocket or if you are poor enough to qualify for Medicaid, then long term care insurance might be not be for you. However, if you do not fit into either of those two categories, long term care insurance might be an attractive option.

According to the article on InsuranceAgents.com, “Many individuals rely on relatives and loved ones to provide care as they get older. But circumstances arise and you can never be sure if that unpaid caregiver will always be available to care for you.”

That is where long term care insurance steps in. Should your relative or loved one not be able to continue caring for you, your need for care does not decrease any and therefore you need someone there to pick up the slack. Nursing homes and assisted living centers can be pricey if you are staying just for days, let alone years and the price for long term care insurance reflects that but there are ways to save when purchasing such a policy.

There are several steps to take to ensure you are getting the best possible rate available on your long term care insurance. Purchasing a joint policy with your spouse, asking your employer if your company can subsidize the cost in any way, purchasing a policy that has a longer waiting period, and adding long term care as a rider to an existing policy or annuity are just several viable options.

It is also important to lock in a policy before you turn 60 to avoid being rejected and once you have a policy selected, be sure your premium is no more than 7% of your income.

If you like what you hear so far and want to learn more about long term care insurance don’t hesitate and visit InsuranceAgents.com today to compare quotes and find the policy best suited for you.

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