This Might Very Well Be the Ideal Time to Buy a Long-Term Care Insurance Policy

By Steve Elliott | April 3, 2018 | Comments Off on This Might Very Well Be the Ideal Time to Buy a Long-Term Care Insurance Policy

How many people do you know are talking about long-term care insurance? The younger you are, the less likely you’ll run into people who are contemplating purchasing this type of insurance policy. However, for those in their mid-to-late 40’s, 50’s, and early 60’s, this could be a wonderful way to not just protect you and your family, but also your assets, the money you worked so hard to save throughout your career (as you approach retirement).

Long-Term Care Insurance Premiums Carmel Valley CA - This Might Very Well Be the Ideal Time to Buy a Long-Term Care Insurance Policy

Long-Term Care Insurance Premiums Carmel Valley CA – This Might Very Well Be the Ideal Time to Buy a Long-Term Care Insurance Policy

These policies are generally cheaper per month the younger you start.

The earlier you begin a long-term care insurance policy, in many ways this is similar to life insurance and other types of policies, the more affordable the premiums are on a monthly basis. If you’re at least over 40, this could very well be an important decision you and your family should make now.

What does long-term care insurance offer?

If you have a specific, documentable requirement for long-term care at any time once you have a policy in place, this type of insurance can cover a significant amount of the expenses for those services, up to a certain duration, depending on the policy you choose.

If you require extended care at a nursing home, for example, your health insurance policy may cover some length of time, such as 90 days, two weeks, or some other stipulated duration, but if you’re talking about months or possibly even years, that can quickly add up, and a long-term care insurance policy will usually kick in after a determined amount of time.

Some policies, for example, that will pay costs out for three years have helped people save their entire retirement savings, allowing them to get back to life once they’ve recovered, search for other alternatives as they deal with this new reality, and basically have more options available to them as they move forward.

It may seem as though a long-term care insurance policy isn’t necessary for families who are in their 40’s, but when men and women reach this age and move beyond it, health risks increase plus there’s no honest way to predict whether somebody may be involved in some type of accident that could lead to extensive injuries and the need for long-term care. A person not properly insured for long-term care coverage could be looking at hundreds of thousands of dollars in payments, which they’d have to cover out-of-pocket, and which could financially ruin most families.

If you and/or your spouse or anyone else you care about is over 40, long-term care insurance is certainly something to seriously and honestly consider.

If you or a loved-one are considering Long-Term Care Insurance Premiums in Carmel Valley CA, please contact Steve Elliott at Capstone Insurance for an honest discussion about your future and your options. Call today (858) 350-3161.

Steve Elliott
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