Wednesday, November 21, 2007

Long Term Care Insurance - LTC

If you haven't considered it already, now is the time to do so. LTC Insurance can be your saving grace in your old age. When the day comes that you need or want to live in assisted living, the premiums stop. From there on out your bills are paid by the insurance.
When you live in Assisted Living, the monthly rent includes your room, food, laundry, housekeeping, and most importantly, ASSISTANCE. This can be but is not limited to: the activities of daily living such as bathing or standby help, dressing completely or just tying your shoes. There is help, when you need it for whatever you need. Even transportation to local medical appointments, shopping, and outside activities.
You'll never pay again for electric, water, exterminatior, housekeeping, gardener, or cable tv (in most cases).
Most really nice ALF's (Assisted Living Facilities) cost in the $3000 per month range.
Imagine, you'll never have to pay those bills. Instead, you buy it in the form of LTC Insurance. The younger you are, the lower the rates. Before you're fifty is the best deal but even if you've past 50, the rate you pay now doesn't even compare to what the cost of a nice ALF will be when you're ready to move in.
For women who are divorced and no longer have a husband with life insurance, LTC can provide you with that care you otherwise wouldn't be able to afford as you grow old.
Check it out...find a good policy that pays as long as you live. No one knows how long we each have so buying a policy that stops paying after a few years isn't advisable. Go for the cadillac in this case. Make monthly payments or save a percentage buy paying in lump sum. Either way, having LTC insurance is the smart way to grow old.

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  • Ambulating (walking)
  • Bathing
  • Dressing
  • Eating
  • Toileting