Long Term Care Insurance

Long term care is not the type of care offered by a hospital or a doctor's clinic. Long term care can be received at home, in a nursing home or at an assisted living facility. About 55% of American who are 85 or older needs long term care.12 million older Americans are expected to require long term care in the year 2020.

Long term care insurance is restively new, but nowadays there are more than 100 companies offering long term care insurance coverage, which is available through groups and to individuals.

Long term care insurance policies usually cover care in state-licensed nursing homes as well as certain home care services provided by certified home health agencies. Limits and exclusions of long term care insurance differ from policy to policy

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Long Term Care Health Insurance

Long term care health insurance is a type of health insurance wherein the receiver of the insurance is guaranteed coverage even if a situation arises in which he or she will require a very long period of treatment. Health insurance policies will pay specified sums for medical expenses or treatments, and can offer many options in their approaches to coverage.

There are different types of health insurance coverage designed to meet your needs and budget. The cost of health insurance, called the premium, may be higher for a policy that provides a great amount of coverage and flexibility, while the premium may be lower for a policy that provides less coverage or flexibility.

Long term care health insurance offers protection against unforeseen or catastrophic long term illnesses, and provides policyholders with all the assistance that they would require under a long illness. It can be of great help to older people who are not in a position to look after themselves. Thus, long term care insurance provides financial security.

The need for long-term care health insurance can arise gradually with age, when people need more and more assistance with the activities of daily living. Some people may need nursing-home care for a matter of months, while others may need care for years.

As the policyholder grows older, the premiums for long-term care health insurance policies increase to cover this risk. When buying long-term health coverage, the consumer should anticipate such situations and see that it will not strain a fixed income, resulting in cancellation of the policy just before coverage is needed.

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