Long Term Care Insurance Prices
There are many types of insurance that people can buy for themselves. They can buy insurance to protect their cars, their homes, their possessions, their health and their lives. Long term health care insurance offers a different kind of coverage; it insures and protects your quality of life as you age and become unable to complete the regular activities associated with everyday life. If you have been looking for long term care insurance Prices information online, then you have probably read about many of the pros and cons of private long term health care insurance and may be wondering if it is right for you. Since Medicare and Medicaid both have extreme limitations in long-term care benefits (including 100 day caps and only offering nursing home care) chances are a private long-term care policy will give you the quality of life you want when you can no longer care for yourself.
What is Private Long Term Care Insurance
Long term care policies are structured to pay for care and assistance you need in your daily life as you get older. This care can involve such basic activities of daily living (ADL) as eating, dressing, and bathing or can include more sophisticated levels of care like physical and speech therapies. You become eligible to utilize your long-term care policy once you need assistance with a certain number of ADLs.Millions of baby boomers are about to become a part of the Medicare system. Many new folks as well as folks already in the system remain uninformed about the things Medicare actually does NOT cover. Of course, most people know that Medicare does not cover vision, hearing aids or dental care. Because of the limited coverage for skilled care, however, many people do not realize that Medicare does not cover extended care, also known as Long Term Care. Others make the mistake of assuming that Long Term Care insurance costs too much.
Long Term Care Insurance
When you are ready to purchase a long term care insurance policy, you will want to speak to a licensed agent, perhaps two or three of them. Do some homework on the company first, remembering that prices are probably the least important factor. You can information on almost any company on the internet. The ratings tell you how quickly a company pays its claims and how stable the company is financially. There are several rating agencies, but Weiss is by far the best as they do not accept payment from the companies in return for good ratings. They are paid by the investors, so an A or A+ from Weiss actually carries a lot more weight than an A from A.B. Best or Moody’s, for instance. You can also Google a company and find out what the complaints are, if any.A Long-term care insurance prices provides chronic care to the person suffering from serious illness or disabilities that may leave him unable to take care of himself requiring extended medical, nursing and rehabilitative care.