Long Term Care Insurance Not Intended For Everybody

A recently published article on InsuranceAgents.com breaks down who long-term care insurance is ideally for. End Quote

Long term care insurance covers the expenses for those who will need special care and attention in their later years.

Columbus, OH (1888PressRelease) November 07, 2009 - Statistics tell an interesting story. Nearly 75 percent of individuals over the age of 65 will eventually need long-term service in their life. On top of that, the average national cost of long-term care for one year is a staggering $60,000. The problem, however, is that many senior citizens simply don’t have that much money lying around the house.

“Long term care insurance covers the expenses for those who will need special care and attention in their later years, particularly for their daily living activities or medical needs,” the article, Long Term Care Insurance: Is It For Everyone?, states. “One of the big factors in determining who needs or doesn’t need long term care insurance, however, is finances.”

Long-term care insurance premiums are not cheap, and those who are interested in obtaining a policy should have a good financial history. A steady income and a sizeable amount of assets can help an individual’s cause as well.

But what about those who haven’t been as financially lucky? Can they still afford to purchase a long-term care insurance policy? Unfortunately, due to the high cost, obtaining a policy might be easier said than done. Those still interested in purchasing a policy, however, should first talk to a financial professional or a licensed health insurance agent to see if they may be able to find low rates that fit into the person’s budget.

“Before investing in long term care insurance, it’s important to first talk to a licensed insurance agent who specializes in and has extensive experience in dealing with long term care insurance policies and clients,” the article emphasizes. “Also, look for and compare several long term care insurance quotes to find the best rate.”

Staff contribution: Rafael Onak

http://www.insuranceagents.com/long-term.html

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