Long-Term Care




Long

Term

Care

Coverage

For

Under

$100

Per

Month**



**Assuming you are
under age 70.

The #1 reason most people don’t buy long-term care insurance is the perception that
the
premiums are too high.  However, if you’re willing to cover a portion of the cost
of your care using some of your current income – chances are you can get a policy
for under $100 per month.

In general, long-term care coverage makes sense for people with a net worth of
$100,000 to $2 million.  Those with less will exhaust their assets and qualify for
Medicaid.  Those with more can typically fund their own care.

Normally, consumers look to insure 100% of the cost of care in their area.  The
current national average is over $190 per day, or over $72,000 per year.*  However,
an alternative strategy is to purchase less coverage – say 50% to 80% - and in the
event you need care, pay the difference out-of-pocket later on.
When shopping for a policy, consider an elimination period – the time before your
benefits begin  - of 90 days or more.  This approach lowers your cost – in some
cases – by as much as 30% or more per year.  Equally important, insist on insurers
rated “A” or better by A.M. Best.

With over 100 policies on the market – each with different benefits, premiums and
application requirements – it pays to comparison shop.  
In addition, you should consider a policy with at least a three-year term – the average
time people need care
Find out how you can purchase low-cost long term care coverage.

Contact us for no-obligation quotes.


The
current
national
average
is
over
$190
per
day,
or
over
$72,000
per
year.*



*Genworth
Financial
Cost Care
Survey,
1/13/05.
“My dad needed care for over 4 years and if we’d had a policy that
paid even $1,500 a month towards ongoing expenses, it would have
made it a lot easier,”
says Bob Burke,
a broker who sells long-term care policies in Phoenix.
According to Money Magazine financial editor, Jean Chatzky, “Your
best bet is to get quotes from at least three companies.”
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