As we grow older, our bodies begin to slow down. We become more susceptible to diseases and chronic illnesses that would require that someone else takes care of us. When we are young, we hardly think of our mortality and long term care is hardly an issue. But as the years go by, it becomes a necessity that we think of how we would live after retirement or if we are faced with a debilitating illness.
Long term care has a time span for buying it. Most insurance companies do not allow people that are already in their late sixties and early seventies to buy the coverage at that stage. This means that you need to buy it when the need for it has not really arisen.
Nobody likes the idea of depending of someone else to function daily, but the truth of the matter is that no matter how strong and healthy you are, age has a way of weakening and slowing you down. If you do not have money to pay for long term care services, it is wise for you to invest in long term care insurance.
Health insurance does not cover long term care. Statistics have shown that over five million people between the ages of 14 and 65 require some kind of long term care. It is therefore expedient that you consider buying long term care insurance.
Because this is a very complicated aspect of insurance, you need to understand what long term insurance covers and the type of policies that are available.
Some of the policies are:
1. Nursing and Home care insurance. Although this policy would not pay fully for any long term care service, it would provide a large percentage of the cost of the service. The premium for this is usually lower than the complete long term care insurance policy.
2. Home care insurance. This is an even cheaper policy. Although it does not pay fully for long term services required, it still provides a large percentage of the costs of payments for long term care carried out in your home.
3. Nursing Home insurance is a policy you need to consider because by the time you retire, you might require the service.
Finally, you need to make preparation for retirement before you get there. So check out different insurance websites and get quotes on long term care insurance, compare prices and services offer. This would help you make an informed and wise decision.
Here is my favorite page for long term care insurance quotes...
Long Term Care Insurance Quotes
Chisomeje Odimba writes for Quality-Insurance-4-Less.
