Why Buy Long-Term Care Insurance?
(Here's how everything works)
Written by
Jessica Huneck is an insurance writer from TrustedChoice.com. She began her writing career in 2011 and has since earned herself a bachelor's degree in English writing.
Reviewed by
Paul Martin is the Director of Education and Development for Myron Steves, one of the largest, most respected insurance wholesalers in the southern U.S.
Table of Contents
Q. Why should I buy long-term care insurance and what does it cover?
Q. Why should I buy long-term care insurance and where do I buy it from?
Q. Why should I buy long-term care insurance and how much does it cost?
Q. Why should I buy long-term care insurance and when do I buy it?
Q. Why should I buy long-term care insurance, and what does it cover?
Why should I buy long-term care insurance? isn't that what retirement is for? What does a long-term care policy cover?
The reasons to purchase long-term care insurance are vast, but the simplest and most important is because it pays for your long-term care. Even though you may have retirement savings, you don't want to eat up all of that hard work in a matter of months. A lot of retirement savings get blown through in the first two years of long-term care, and then you have nothing left.
Long-term care provides coverage for long-term care expenses such as nursing home care, in-home care, hospice care, respite care, Alzheimer's care, and adult daycare. Check with your local independent insurance agent for more information on your specifics.
Q. Why should I buy long-term care insurance, and where do I buy it from?
Why should I purchase a long-term care insurance policy in my retirement planning? If I decide to buy a policy, where and who does the policy come from?
The reasons to purchase long-term care insurance are vast, but the simplest and most important is because it pays for your long-term care. Even though you may have retirement savings, you don't want to eat up all of that hard work in a matter of months. A lot of retirement savings get blown through in the first two years of long-term care, and then you have nothing left.
The best person to buy long-term care insurance from is your local independent insurance agent. They are an advisor in your time of need and planning. The independent insurance agent can help you decide what long-term care coverage is best.
Q. Why should I buy long-term care insurance, and how much does it cost?
Why should I buy long-term care insurance? I heard that long-term care policies can be expensive. How much does one cost?
The reasons to purchase long-term care insurance are vast, but the simplest and most important is because it pays for your long-term care. Even though you may have retirement savings, you don't want to eat up all of that hard work in a matter of months.
A lot of retirement savings get blown through in the first two years of long-term care, and then you have nothing left. "Expensive" is relative and long-term care policies can be adjusted with benefits to suit your long-term care needs and budget. Speak with your independent insurance agent for specifics on your policy.
Q. Why should I buy long-term care insurance, and when do I buy it?
I have been hearing a lot about long-term care insurance lately as I am planning for the future. While I don't want to need it, I want to be safe rather than sorry. Can you tell me why I should buy long-term care insurance and when I should buy it?
The reasons to purchase long-term care insurance are vast, but the simplest and most important is because it pays for your long-term care. Even though you may have retirement savings, you don't want to eat up all of that hard work in a matter of months. A lot of retirement savings get blown through in the first two years of long-term care, and then you have nothing left.
The experts' opinions vary on when the best time to purchase a long-term care policy is. Some say 50 years of age while others say 60. They can all agree on one thing, buy it before you need it. The best person to speak with on your specific needs when it comes to long-term care is your local independent insurance agent.