Tag Archives: long term care insurance policies

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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