Article Side

Online Article Directory!

Hello Guest! Login or Register to submit articles!

Who Benefits from Long Term Care Plans?

By Katherine Roberts Subscribe to RSS | December 6th 2011 | Views:

Life insurance policies sell faster than long term care insurance (LTCI) because most people like to think that when they die their families won’t eat out of other people’s hands. Unfortunately, without long term care plans you won’t be able to stop that from happening as it definitely will.

If you analyze the benefits that you can get out of a life insurance policy and that sold under the LTCI category, you will realize that the latter has more to offer because it does not only provide long term care (LTC) coverage but asset protection, as well. When the time comes that you have to leave this world, your family won’t be left empty-handed because you’ll manage to pass on to them all of your assets.

Now your life insurance benefits shall only be released to the beneficiary or beneficiaries stipulated in your policy upon your death. What if the amount of benefits that they would receive is smaller than your debt to a number of people which your family has to pay?

With an LTCI policy your family may not receive anything which is monetary by nature but you can spare them from financial problems and emotional distress because your policy will cover all of your expenses in a nursing home, assisted living facility, continuing-care retirement community, or at home until your maximum benefit period.

Aside from the assurance that your LTC expenses will be fully covered should the time come that you would need care, you can also brush aside the fear of inflation because your LTCI policy will be integrated with an inflation protection. This type of LTCI rider is necessary to ensure that your benefits are at pace with the current cost of care in your area.

Starting Your Long Term Care Plans

Before you can plan your future health care needs, you have to know first what you could possibly need.

LTC planning is not different from buying a house or applying for a job. You wouldn’t immediately buy the house across the street with a “For Sale” sign without inspecting it first, would you? Will you take a job that is available in an engineering firm if your specialization is care giving?

The same concept applies in health care planning because the money that you invest in a specific LTC plan can never be taken back.

For example, you’ve purchased an LTCI policy which is exclusive for in-home care and have maintained its annual premium for over 20 years. Unfortunately, you acquired a life-threatening disease and you landed in a nursing home unexpectedly. All the expenses that you would incur in the nursing home shall be your responsibility and you have to settle them using your personal resources since facility care is not included in your LTCI coverage.

Nobody wants to fall into that kind of predicament and the only way to avoid it is by identifying your future health care requirements. See your doctor on a regular basis and while you’re young and healthy, discuss various long term care plans with a reliable LTCI representative in your area.

Katherine Roberts - About Author:
Get instant updates about CLASS act and you can even get free long term care quote when you visit our website now.

Share on Facebook Tweet It Stumbleupon this post This post is delicious !

Article Source:

Related Insurance Articles Subscribe to RSS

Tradesman Tools Insurance to take care of your equipments
Published by Imar Insurance on November 30th 2011 | Insurance
A tradesman's tools are a vital part of his working life. No matter what sort of trade you happen to...
Medicare is supplemented for special care
Published by William Richards on June 2nd 2012 | Insurance
Medicare supplemental plans include the original plans of the Medicare with an extra benefit and fac...
Taking care of debt settlement
Published by Rajkumar Kaushal on May 12th 2012 | Finance
How do you choose good information on debt settlement bankruptcy in debt settlement? This is one que...
Achieve your goals with the long-term Strategic Planning and lead your company on the path of success
Published by Tommy Jackson on July 24th 2012 | Insurance
Once you enter the market with your own business firm, there are issues you need to tackle and probl...
Business Accountant Brisbane: Best accountancy services to ensure long-term success
Published by Tommy Jackson on June 19th 2012 | Insurance
If you own an organization or a business firm, you will be aware of the problems you might face if y...
Compare Cheap and Affordable nevada long term care insurance Quotes Online
Published by Kym Dicken on November 30th 2011 | Insurance
Long-term care insurance has become very popular in the United States and many other countries with ...
Citibank customer care - Taking care of the customers
Published by Vikas Purohit on July 1st 2012 | Finance
Citibank Customer Care in Gurgaon takes care of all the problems faced by the Citibank account holde...
Taking care of finances in Debt Settlement
Published by Rajkumar Kaushal on May 19th 2012 | Finance
Debt settlement finance and financial in debt settlement have assisted a lot of people to save detai...
Take care with supplemental plans
Published by William Richards on June 2nd 2012 | Insurance
The supplemental Medicare plans are to be chosen in accordance to the financial status of the candid...
Motor care warranty Company failure creates worries for consumers
Published by Jack Paul on February 15th 2012 | Insurance
Financial watchdogs are going to investigate the failure of car insurance companies which has brough...
How can Child a Life Insurance help you in the long run
Published by Max York on April 11th 2012 | Insurance
Life insurance plans act as important financial tools in the long run; child insurance plans too are...
Budgeting is the best way to stabilize your business in a long run
Published by Tommy Jackson on July 4th 2012 | Insurance
For the business owners and CEOs, the budgeting is one of the most important facet of their business...