| Long term care is required by the young and old | | | | insurance policies and choose a company that is |
| due to a terminal illness, injury or old age. | | | | established and reliable. |
| The period long term care is required can vary | | | | 5. Plan the premium payments. Ask how much |
| from a few days or weeks to many years. | | | | the premiums will cost with increasing age. And |
| According to studies conducted by insurance | | | | make provisions so that you will be in position to |
| professionals: around 3% of long term care | | | | pay the premiums when it will really matter and |
| patients are under 18 years of age; around 40% | | | | not have to abandon the long term care insurance |
| are between 18 and 64 years of age; and 57% | | | | policy. |
| are above 65. And government programs can | | | | 6. Ensure that the policy you are selecting covers |
| only pay for around 16% of long term care | | | | cost of day-in, day out care and home help, |
| needs. The rest has to be borne by the people | | | | medicines, and doctor's visits. Take the help of a |
| themselves. | | | | knowledgeable insurance advisor in case there are |
| Costs of health care are steep and just nursing | | | | any problems. |
| could cost over USD 40000 a year. Home care | | | | 7. Ask for a policy that includes inflation protection. |
| too costs over USD 200 a day. Since costs are | | | | This is critical in the case of long term care |
| rising everyday it is best for individuals and | | | | insurance. The options vary from company to |
| families to plan for contingencies like long term | | | | company; some offer the right to buy additional |
| care needs by taking insurance policies early. | | | | coverage in the future while others offer inflation |
| It is important to create a long term care plan: | | | | protection within the premiums paid. |
| 1. It is important to prepare for the future from a | | | | 8. When filling in forms fill in the answers honestly. |
| young age. Invest wisely in insurance plan that will | | | | Check and recheck the form. Also make sure |
| take care of long term needs. Create a folder | | | | you understand the fine print in the policy and all |
| with instructions detailing care preferences, | | | | the terminology. |
| medical treatments, and the documents that will | | | | 9. Ask for outlines of coverage from several |
| provide for extended treatments. | | | | companies and compare the coverage before |
| 2. Choose a care advocate who will ensure that | | | | investing in a long term care insurance policy. If |
| your wishes regarding long term care are carried | | | | you have any doubts get a clarification from the |
| out. The advocate will take the responsibility of | | | | agent or insurance company. |
| arranging the funding and the care giving services. | | | | 10. Maintain accurate medical records in an |
| 3. Invest in a reliable long term care insurance sold | | | | accessible file. And keep an update of changes in |
| by leading insurance companies that will take care | | | | insurance laws and coverage as time passes by. |
| of medical as well as non medical needs. | | | | Learn how to protect your long term interests. |
| 4. Make a thorough research on long term care | | | | |