Living options for Long Term Care
What type of living options are there? Which type of care will I need? With different types of living options available with Long Term Care insurance research the information below by Senior Living to find what type of care meets your criteria.
Five different types of living options for long term care insurance include In-Home care, Assisted living, Nursing care, Adult Day Health Care, and Memory Care.
- In-Home care: Health care services that are provided to help in home with an illness or injury.
- Assisted Living care: A housing facility for adults that are not able to live independently. Here[…]
Long Term Care for Seniors: What are the options?
Long term care provides a full range of services and medical support. Long term care is ideal for someone over the age of 65. When purchasing though you can start looking around 50s. Statistics have shown that around 50% of elders who are 75 or older will need some type of long term care.
Long term care can be permanent or temporary. It all comes down to the reason for needing the care. Below are the different examples from Senior Living of the options you have for both temporary and permanent care.
Temporary care:
This can include care or services for months[…]
Are you planning ahead for Long Term Care?
Many families are struggling financially while trying to pay for the right care for a loved one. They find it difficult to protect and preserve their large assets that are being wiped out paying for high cost on Long Term Care services. An estimated national average annually ranges from $74,000-$75,000 for private nursing home care.
Understanding all the resources and funding a loved one with some type of long term care is important. Care can be expensive and it’s important to plan ahead and avoid the financial risks and burdens of waiting until it’s too late. According to NCPC ,[…]
4 tips for buying LTC
Below are 4 tips from Kiplinger for buying long term care insurance. Hopefully this will help you during the process and help you get the best deal.
According to the latest overall cost of long term care insurance “a married couple both age 60 can expect to pay $2,170 per year for $328,000 worth of coverage, up from $1,980 last year.”
1.Assess your risk: Consider your health and allow that to determine what type of care you are wanting to cover you. Situations are all different so find out what kind of coverage you are wanting so you can find the[…]
Long term care or “Self-insure” ?
Should you purchase Long-Term care insurance or invest to “self-insure?” Statistics show that at some point you are more than likely going to need some type of long term care. Eventually you will need coverage that regular health insurance does not cover.
Being “Self-insured” requires a person to fund the expenses of long term care by using financial resources or personal assests. Basically you are saving for costs of medication and caregiver service fees that you can pay later on when needed. Paying out of pocket requires quite a large sum of money. One of the risks in self insuring[…]
Long Term Care Statistics
What do you do about long term care costs?
Even people that have large financial asessts do not feel comfortable investing $300,000 annually on Long term care insurance. So how will you plan for your future? The question a lot of middle aged people will eventually have to answer. The best way to take care of the possibility of you needing some type of LTC in your life is to plan ahead and allow yourself to become familiar with all the facts. Knowledge is power.
If you are on the fence or not sure if you will ever need Long-Term Care insurance[…]
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A side-by-side comparison of each company’s policy features. We cover the similarities and the differences.
Price comparisons customized to suit your specific needs from top carriers such as Nationwide, Thrivent, New York Life, National Guardian Life, Mutual of Omaha, and more.