Data from the American Association for Long-Term Care Insurance (AALTCI) reveals that Long Term Care Insurance claims have gone up. In fact, claims have gone up by up to 35% within the last five years. This means that more and more families have been able to benefit from their Long Term Care Insurance policies over the years. Long-Term Care Insurance helps cover the cost for extended care due to illness or aging. This care is often categorized as custodial care and can be quite expensive and hard on families. Without these policies in place families can easily blow through their savings and/or end up the primary caregiver for their loved ones.
This insurance is usually purchased in your 50’s and 60’s and expected for later use by those who will live long lives. According to the AALTCI, 7.5 million Americans have some form of Long-term Care Insurance in place. Premiums are determined based upon you age, state, health status, and other factors. These policies can help alleviate both financial and time commitment burdens that can be otherwise devastating to your family. This type of insurance can also allow for more ease of mind and flexibility when it comes to selecting the best options for your long term care needs. Some policies can even be applied to at home services depending on your policy type. Long Term Care Insurance could be a feasible solution for you and your family.
If you or someone you love is interested in learning more about Long Term Care Insurance be sure to visit: LTC TREE for more information.