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Long Term Care Insurance

We usually associate with the elderly. But sick or injured can happen to anyone, at any age.

However, they are in the correct assumption. Most of the people who buy LTC are usually seniors. But that is changing rapidly. People over 50 are now buying insurance to protect their assets, take control of their future in health care.

Always ask if you should buy a LTC policy?

Here are some recent statistics:

1) A home health care costs over $ 19 per hour

2) A living plant costs about $ 2968 per month (or $ 35,000 per year)

3) A nursing home costs about $ 206 per day (or $ 72,000 per year)

Nursing home costs continue to grow too fast!

Why buy LTC policy?

You work a lifetime to accumulate assets. Would you like your property to the heirs, such as children or grandchildren? Or would you prefer to hand the assets and investments to a nursing home? They are needed in order for your assets to your own care first. Then, each program of the government, such as Medicaid will kick in.

Medicare, the expected? Do some research. Medicare is very, very limited.

The purchase of an insurance policy

When buying a policy, make sure that the carrier is highly rated by AMBest. While that offers no ironclad guarantee, it at least assures you the carrier tries to run a solid business.

The average stay in a nursing home is less than 3 years. If the premiums are an important test, you receive an offer with a short-term performance compared with that for a lifetime of reporting.

Get a quote with an inflation rider. As nursing home costs rise, inflation rider, make sure that your performance is increasing every year.

At the meeting with an insurance broker LTC, familiarize yourself with the terminology.

Benefit Period - is the time the policy pays benefits (2.5 years, for example)
Amount per day - how much the policy will pay ($ 300 per day, for example)
Waiting Period - the length of time before the policy kicks in (90 days, for example)

A typical policy might pay $ 200 per day, last 2 1 / 2 years and kick in after 90 days after the sickness or injury.

Have your agent offers you different, blending the daily benefit amount, benefit period and waiting to find a policy to protect you and also fits into your budget.

Visit for more information http://www.phoenix-life-insurance.com care.

Gary Brown is principal owner of Choice Insurance of Arizona. He has been Arizona residents for car insurance, home insurance, life insurance and long term care insurance for almost 14 years. Find his website at Arizona Long Term Care Insurance & http://choicearizona.com