Recent reports show that there has been a 50% increase in web searches for Long Term Care Insurance the past five years, indicating a huge shift in awareness about the importance of Long Term Care Insurance to any sound, financial and retirement plan. To quote a member of the industry association: “I think people are finally getting the message that planning for the eventual risk of needing long term care is essential.”
The road to get to this stage has been long, though, and there is still a long way to go before all Americans are prepared for their future, long-term care needs. Many Americans have still never heard of Long Term Care Insurance and are vulnerable to being caught without it in their retirement years and being smacked with the high cost of long-term care.
Long Term Care Insurance just might be the most important insurance you ever own
In the past, seniors and older Americans could rely on their children or family member to care for them in their frail, twilight years. In addition, the cost of nursing home and other care was, if not reasonable, at least affordable for many. That has all changed and now many Americans find themselves caught without any way to finance their long-term care. So, what is long-term care anyway?
Long-term care services assist with the basics of daily life like eating and getting around. These activities, while essential, are not covered by regular health insurance or Medicare except under special circumstances. So, you either have to pay out-of-pocket for in-home care or for a nursing home stay. These services have become prohibitively expensive for many middle-class Americans. And, sadly, paying for these services can mean financial ruin and depleting your nest egg and savings. Medicaid doesn’t kick in until you’ve spent down your assets, for example.
I’m convinced. What should I do next?
Well, the first thing to do is to educate yourself about Long Term Care Insurance. A private Long Term Care Insurance policy is the only way to be sure you’ll be protected against the high cost of long-term care when the time comes. When that time comes, you’ll be in no physical or mental position to make complex, difficult decisions about your finances. You’ll need to know that you’re covered and to have that peace of mind.
That’s what we’re here for. At LTC Tree, we’re passionate about long-term care and are the largest virtual Long Term Care Insurance brokerage in the country. We work with the top, blue chip carriers to obtain quotes and then leave you the space and time to evaluate them while we remain here to answer questions and guide you.
It works like this. Simply fill out our form and we’ll get you quotes from the top Long Term Care Insurance carriers in the nation. Then, we’ll assist you in navigating the options and help you choose a plan that is right for you and your family. Thanks for reading today’s blog and be sure to check back on ltctree.com for the best in Long Term Care Insurance policy advice, rates, quotes and comparisons.