Whether you are considering buying long term care insurance, or any other,
let's look at the reasons why people buy any insurance.
It is not because they delight in paying insurance premiums. It is a rational and beneficial decision for
many (click for presentation) to transfer a potentiallly catastrophic
financial risk from one set of shoulders (your's) to another (an insurance
company), in return for a relatively small, ongoing premium.
Long Term Care insurance (and home health care insurance), just like homeowner's
insurance and automobile insurance, is an insurance we hope we never have to use.
In any given year, less than one percent (1%) of homeowners make a claim of
fire damage to their home, but they wouldn't sleep well at night it they didn't
have the coverage. And homeowners are not disgruntled in the least at not
using this insurance! Perhaps Long Term Care insurance should be viewed
similarly.
Just having the coverage will give you peace of mind, knowing that you have
prepared for the unknowns down the road, and put a wall of protection between
the cost of ongoing care and your assets. Protecting assets is probably the
main reason people buy Long Term Care insurance.
Like all other insurance,
the younger you are, the less buying long term care insurance will cost. But,
even at older ages the cost is probably more than justified. One year's premium
is likely to be less than one month's care in a nursing home. And, for obvious
reasons, one-on-one care at home is even more expensive than a nursing home.
Other reasons people buy Long Term Care insurance policies are:
- Control and freedom of choice
- Independence/Avoid dependence on others
- Protect spouse's life style
- Encourage spouse to get needed care
- Financial planning
- Taming their most volatile future cost opens other opportunies
If staying at home and having control over your care is important to you, now
is the time to take action. There are many Long Term Care/Home Health Care
plans available. Tailor one to suit you, your needs and desires, today.
Just remember--professional and caring help is only a click away!
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