Why do I Need Long Term Care Health Insurance?

Aug. 4, 2011 - PRLog -- This long term care can take different forms and need not only be received through residential support.  There are numerous people who are receiving long term care in their own home with specially trained persons assisting them with their needs.

Long term care health insurance is a policy that is ideally suited to people who past the age of 65 expect to have less than around $1.5 million in assets available to pay for such care.  However, there is also the band of people who expect to have little or no available money at this time – if you fall into this bracket then the Medicaid plan may pay for your long term care.  This means that there is little or no benefit to funding your own long term care via insurance; the exception to this rule is for residents of California, Indiana, Connecticut or New York for whom there will be some enhancements to the Medicaid Plan.

Annual figures for care provided in a nursing home in 2005 ranged between $37,000 and $112,000 dependent upon where the home in question was located.  Additionally figures researched in the same year identified that specialist home care cost between $20,000 and $52,000.  These staggering figures mean that those with some means but not considerable means would benefit from the peace of mind that comes from knowing that if the worst were to happen they would not become a burden upon their loved ones and that their needs would be met.

In order to ensure the best chance of being able to secure a long term health care insurance policy you should start requesting insurance quotes at http://www.insurancequotescomplete.com and taking up the most favorable policy before reaching the age of 60.  This will reduce the chance of rejection by the insurance company and additionally as most of these policies have a guaranteed premium, will reduce the monthly or annual premiums over a policy taken out in your 70s or 80s.

All policies are not created equally and there are a number of features that some policies will have and some might not.  Obviously the maximum amounts that will be paid out in the event of a claim are of vital importance as they need to be sufficient to pay for the care required in your local area.  However, this is an area where reducing the levels of insurance will in turn reduce the premiums.  Premiums can also be minimized through such areas as the waiting periods and the length of time for which the benefits can be paid out.  If these can be reduced to levels that are still acceptable to you, then once again the premiums paid will be smaller.

Please visit http://www.insurancequotescomplete.com/health-insurance-q... ...for more details.

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