Tag Archives: long-term care insurance

Senior Care Insurance

There are many types of senior care insurance, from long term care insurance to Medigap supplemental insurance policies.  Each can provide different levels of coverage for the needs that my come into play as and elderly loved one ages.

Long-term care insurance (LTCI).  As we get older and face the challenges of aging, many of us begin needing help with daily activities we’ve performed all our lives. Simple tasks like eating, dressing, bathing and simply getting around can become much more difficult and can rob us of our joy for living.  If you or a senior loved one winds up needing care in one’s old age, with a long term care insurance policy you’ll have the funds needed to pay for at-home nursing care, adult day care, residential care or one of hundreds of other types of senior aid.

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Long Term Care Insurance and Senior Citizens

The intent of long-term care insurance is to reduce the costs if someone needs long-term care from a paid provider. Long term care insurance can help with the costs of care facilities. This may include a nursing facility, home care, assisted living, but the insurance will not cover the full cost of the care. Many people invest and pay premiums for long-term care insurance for years before they need long- term care, and often times they may never need to use the insurance. Qualifying for long-term care insurance when you have health problems can become difficult in your later years. A policy with poor terms can turn out to be a wasted investment, but many people get it for peace-of-mind. People may buy long-term care insurance because of the rates of senior care that their loved ones may not be able to pay for when the times comes. Medicare rarely covers long-term care costs and expenses, so the insurance would be a beneficial investment in that instance.

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