Coming Soon
Subscription Marketplace - Buy and sell subscription products and services
985 views
in Articles by
Long-term care insurance is not right for everyone. For a small percentage of the population this coverage is an affordable and worthwhile type of insurance. Determining whether or not long-term care insurance is right for you won't be the only task at hand; looking for scams will also be a concern.

As you get older, the need for assistance in your everyday life increases. Whether it is in-home care or residing in a nursing home for a few months you will most likely need some way to pay for these types of services. In order to maintain long-term care insurance you must pay for them each and every year until death. Many policies are canceled by policyholders that are on fixed incomes and are simply unable to pay for the increasing premiums as they get older. If the only funds you are receiving were those from Social Security or SSI, then it would be wise to not purchase a policy. Also, if you find that every day purchases and paying for utilities makes you stretch your budget to the limit, you probably should stay clear of this policy. This type of policy is only right for someone who has significant assets they want to preserve for their family, remain independent, or just to spare their family the expense of a nursing home bill.

Comparing policies can prove to be difficult because every company is selling a different combination of benefits and coverage. Many companies offer to pay a fixed amount for each day you receive care, while others will cover a percentage of the overall cost of care or supply a specified amount. Beware of these types of policies unless they offer inflation protection. You see, if they do not account for the increasing cost of nursing home costs, then you are stuck with a policy that really does you no good.

Just like a standard healthcare plan, you will have to receive services at designated locations. If you go outside of this network they will simply refuse to pay for any care that you receive. If you have any type of mental disease or nervous disorder then don't expect many carriers to accept you (the one exception is Alzheimer's). There are more restrictions in this type of insurance than any other health insurance.

If this type of policy is right for you, please make sure that the company is reputable. There are many individuals who thrive on the fact that not many people will make an informed decision when it comes to purchasing long-term health insurance. Be sure to read the fine print and find out everything you can about the policy before committing to a company and a long-term health insurance plan.

Please log in or register to reply to this topic.

Related topics

0 replies 785 views
posted in Articles by Titank
0 replies 711 views
posted in Articles by PerfumedNecromancer
0 replies 976 views
posted in Articles by MammothMoth
0 replies 1,115 views
posted in Articles by FoolishJaguar
0 replies 767 views
posted in Articles by BunBunny
0 replies 709 views
0 replies 628 views
posted in Articles by Knightmare
0 replies 736 views
0 replies 814 views
0 replies 653 views
posted in Articles by HarmlessRose
0 replies 723 views
posted in Articles by Butcherry
0 replies 695 views
posted in Articles by Cybora
0 replies 671 views
posted in Articles by TwinNut
0 replies 1,804 views
posted in Articles by Explorer
0 replies 638 views
posted in Articles by Hawkward
0 replies 663 views
posted in Articles by AfternoonFay
0 replies 775 views
0 replies 701 views
posted in Articles by Oystrich
0 replies 642 views
posted in Articles by BouncyOracle
0 replies 590 views
posted in Articles by Tomatoad
0 replies 619 views
posted in Articles by GraveGrass
0 replies 631 views
posted in Articles by Falconjurer
0 replies 774 views
posted in Articles by Celestiger
0 replies 753 views
posted in Articles by TrustyKitty
0 replies 622 views
posted in Articles by KeyboardPie
0 replies 648 views
posted in Articles by CharmingChamp
0 replies 821 views
posted in Articles by Prepatriarch
0 replies 797 views
posted in Articles by HairyFoal
0 replies 640 views
posted in Articles by TrainedGuy
0 replies 664 views
posted in Articles by Conjursa
0 replies 1,116 views
posted in Articles by Richard S.
0 replies 609 views
posted in Articles by MorningFortune
0 replies 612 views
posted in Articles by Slayerk
0 replies 664 views
posted in Articles by Robottom
0 replies 601 views
posted in Articles by Catnip
0 replies 612 views
posted in Articles by DopeyPotato
0 replies 667 views
posted in Articles by DreamBaby
0 replies 675 views
posted in Articles by HistoryGuy
...