Long Term Care Insurance ~ Couples Insurance and Long Term Care
Long Term Care Insurance for New Couples
Long term care insurance should be included in a couple’s insurance
Long term care insurance is not only for the elderly, and new couples should look into getting this insurance. This insurance provides for many services such as services to people with chronic conditions or people with disabilities. As a new couple starting out, you never know when the unexpected may occur.
Normal long term care services include support and assistance for everyday activities. These include going to the bathroom, bathing, getting dressed, or eating. These services will help a spouse greatly in their home if one of them needs this type of care. It will allow the other spouse time to go to work, or take a much needed break. These services can also be done in a nursing home or in the community.
Most people will never need long term care, but you can never know when you might. The federal government estimates that more than 12 million people will need this type of care by the year 2020. The Department of human services estimates people that reach age 65 will have a 40% chance of staying in a nursing home. So, you can see why this insurance is so important to couples.
There are some very important factors when determining your long term health care carrier. You need to get a policy that protects you from inflation. You need to figure out the amount of coverage you will need in the future. You also need to figure out the coverage length that you will need. These policies range in protection time from 2 years to your entire lifetime. Make sure your carrier is financially stable, and will be around as long as you need them.
This insurance will protect you from loss of income while dealing with your or your spouse’s health issues. It will help you get in home care that you need. The federal government allows policyholders that have used up all their benefits, to get help without sucking their life savings dry. Long term care insurance is a great benefit to new couples and old couples alike.
1. US Department of Health and Human Services 2007-2012 Strategic Plan
2. Find out what long term care or extended insurance you are responsible for in Canada
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