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Long-term Care Insurance


Have you ever thought of who will be taking care of you when you get old? Your children, if you have children, will probably be having their own families by then. Your spouse, if you end up in marriage, will most likely be as incapable of taking care of yourself as you are.

There are only three ways where in you will be able to secure that you will have a long-term insurance car, first is through financing it yourself, which won’t be a problem if you are extremely rich, next is through Medicaid, which you won’t be able to get if you are not nearly broke, and lastly is through Long-Term Care Insurance.

The last option is the most convenient for you, aside from the fact that you are insured that you will be getting the care you need, you don’t have to be a burden to your family whenever you get old.

When is the Right Time to get A Long-Term Care Insurance?

The right time to get long term care insurance would probably be between 50 to 60 years old. Why? This is because this is the time wherein you will probably get to use the long-term care insurance you will be paying for. You would not want to get it in a very early stage since you don’t even know if you will be able to reach that age.

Also, you would not want to get it beyond this range because it would be vey unreasonably expensive. Most companies tend to ask more from you if you apply for long-term care at a very late stage already. So better get it in a stage wherein you will be have a huge probability of using but not that close that the companies will be licensed to ask a lot from you.

Medicaid versus Long-term Care Insurance

The reason why you would want to have long-term care insurance instead of relying on Medicaid is because of the very little possibility that you will be granted Medicaid. Unless, you are extremely financially broke, and you are very persistent, you will never get Medicaid. This is why you should shield yourself from this very little probability by having yourself insured by long-term care insurance.

Besides, if you can afford it, you should do your part and help, not only yourself, but others as well. By doing this, you will be giving more chances for others to be granted the Medicaid.

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