What is long term care insurance?
Long term care insurance provides coverage for the costs that arise from services that extend beyond medical and nursing care. This type plan includes paying expenses for care services. This is designed to help people who have chronic illness or disability that hinder them from performing daily activities such as eating, dressing, using the bathroom, moving around the house, and bathing. This insurance ensures that the person is able to receive sufficient proper care either inside his/her own home, at a nursing home, at an adult day care, or in any other living facility that serves this purpose.
Why is there a need for such insurance?
This insurance policy is designed after demographic studies predicted that by 2030, the number of people aged 65 and older will shoot up to 71.5 million. Because of the widespread illnesses, injuries, and disabilities, it is expected that more than 40 percent of Americans older than 65 will be spending their lives in nursing home. About 2 out of four Americans will need long term care. Apart from that, at present, we have a big number of people receiving long term care. Almost half of them are between the ages 18 and 64. They receive long term care after experiencing or undergoing sporting accidents, spinal cord injuries, brain tumors, debilitating diseases (Parkinson's and Alzheimer's), and many more. If you buy this type of insurance, it would give you peace of mind knowing that when the time comes that you need it, you can make use of it.
What do this insurance covers?
This policy usually covers expenses that are typically not included in traditional health insurance policies such as Medicare and Medicaid. This plan enables you to receive long term care to assist you in the performance of daily activities in the event that you suffer from an illness or injury. The care given can be for a long period or even permanent. This means that you and your family's savings do not have to be wiped out in case you fall sick or injured for a long time and you need long term care.
How do I buy this insurance?
Check out long term insurance care blog to find out more information on how to avail this policy. Generally, you can search through the web to find a reliable insurance company that specializes in this. Shop for the best insurance rates while keeping in mind the inclusions of the insurance coverage. Then you can submit an accomplished application form along with the documents required by the insurer.