Questions to Ask About Long Term Care Insurance
Who needs Long Term Care?
With how Independent we all live today, Its hard to believe that the need for long term care is on the rise. The Federal government has even come out and said it is estimated that each individual has a 70% risk that they are going to be needing some kind of long term care some time in their life. Studies have Shown 60 year olds are at 60% chance of needing long term care and 70% if you are 65 years or older.
Who’s at High Risk for Needing Long Term Care?
There are a lot of factors to consider when trying to determine if an individual is at high risk of needing long term care, These factors include age, gender, lifestyle, marital status, and family health history.
Insurance companies put you at a higher risk If:
- You are a women
- You are a older age
- You are Single
- You smoke
- You have a poor diet
- You live a non active lifestyle
- You have family history of degenerative diseases
- You are involved in any high risk physical activities
When To Buy Long Term Care Insurance?
Long term care insurance is an investment that will surely to pay off in the future. The truth is LTC premiums go up and get more expensive as you get older. When you buy long term care insurances your premiums do not raise as you get old and are locked into a rate. For many years, Financial planners would advise to tell there clients to wait until the age of 65 to purchase any long term care insurance, But that advice as now since been out dated and now the Federal and State Partnership Programs are advising to consider buying as early as 40 to help ease the burden the cost of high insurance premiums.
Getting long term care insurances not only is a investment for your future but gives your family the security and piece of mind that you will always be taken care of.