Long Term Care Insurance Plan - Why You Need it: Motor and Long-Term Care Insurance Deal

Long Term Care Insurance Plan - Why You Need it

Why do you need Long Term care Insurance (LTCI)? Sure, long term care is extremely expensive and LTCI will help offset those costs. What I’m talking about are the real reasons you need LTCI. Do you want your spouse or children to have to help you go to the bathroom or give you a bath? Do you want to be placed in a nursing home crammed within a single room with half a dozen other patients? What if that nursing home is a few hours away? Do you want your spouse to be left with no money when you are gone?

The reality today is that most individuals and couples who do not have LTCI have a very limited number of choices. Further, the number of choices decreases as the illness or condition progresses, while resources, both human and financial, become further depleted.

The good news is that you do have choices and your first choice is to obtain LTCI for you and your spouse! LTCI allows you to decide where you want to receive care, the level of care you receive and who you receive it from. Some LTCI policies also provide compensation to family members for providing care to you which can help offset their lost wages.

Why do you need LTCI now? Simply, you must get LTCI while you are healthy! Prior to issuing an LTCI policy insurers will conduct an extremely thorough investigation into the health of all applicants. Insurers take all applications for LTCI seriously because of the potential financial risk to them. If there is an issue with your health they will find it!

If something is discovered during the insurer’s investigation one of two things may happen. First, they may decline your application for LTCI. Second, they may issue an LTCI policy but increase the amount of the premium and/or include more restrictive covenants. All things being equal, however, the healthier you are the lower the premium and the fewer the restrictions.

Another benefit to obtaining an LTCI policy now is that the younger you are when a policy is issued the lower the premium. For example, a basic LTCI policy for a healthy 50 year old male is 25% lower than for the same individual at 60 years old and nearly 50% lower at 65 years old! Applying for an LTCI policy today, while healthy and young, not only ensures that you will qualify for the coverage you want but also at a significantly lower premium.

Long Term care Insurance is not just about preserving your assets. It is about preserving your choices. It is about allowing you and your family to decide the level and location of care you want. In today’s environment, not having LTCI is not an option! Contact your local long term care specialist today to structure an LTCI policy to meet your needs.

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Long Term Care Insurance Plan - Why You Need it

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Long-Term Care Insurance Deal

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