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How You Can Use Long Term Care Insurance

Jul 8, 2008
Most of us never want to imagine growing old, being sick or needing long term care. But for 70 percent of people, this is something that they have to face. And the sad thing is that many of them are not insured with long term care insurance.

What is long term care insurance? It is an insurance policy that pays for your stay in a nursing facility or long term care facility. As people begin to live longer, the need for long term care facilities has become apparent. For this reason, it is wise for you to purchase long term care insurance.

You can use long term care insurance in many different ways. Some include the following:

After an accident If you have a catastrophic accident, the last thing you need to do is worry about the cost of the medical facility where you are being treated. In most cases, after the danger period is over, you will be transferred to a nursing home or rehabilitation facility. This can be costly and your insurance may only pay a portion for this care.

This is where long term care insurance can benefit you. It can pay what the insurance company does not cover. This way, you will not be paying out of pocket for your care.

After an illness Long term care is not often final care. In many cases, someone recovering from an illness needs nursing care around the clock but is stable enough to be moved from the hospital. In such cases, people are often sent to long term care facilities. Medicare and insurance only cover a portion of these costs. If you cannot pay, you will be forced to go on public aid - after you have sold everything you own. This can be financially devastating to you when you recover.

Long term final care If you get to a point in your life where you have an irreversible condition and need nursing care, you can get a policy that will last over 4 years. This will pay for your care in the final stages of your life and not eat away at your savings. You will not be a burden to your loved ones and will still be able to leave some money to your heirs.

None of us likes to think of these scenarios, but they happen every day. This is why it is so important to consider long term care insurance Long term care insurance can help you in many ways and allow you to retain what you worked so hard to save.
About the Author
Before you go out and buy a policy go to Long Term Care Insurance guide and read Long Term Care Insurance articles.
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