What to look for in a long-term care insurance policy
It's not something you want to think about: What happens when I get too old to care for myself? What will happen to me?
Seventy percent of adults who reach the age of 65 will need long-term care. Find out more with this Do You Need Long-Term Care Insurance? infographic from Angie's List. "Long-term care" can mean a nursing home, assisted living or staying at home with caregivers visiting. Which would you prefer, and which can you pay for?
For many people, a long-term care insurance policy is a way to preserve options. There is a lot of variety in the policies available, so here are some tips to help you find a policy that will give you protection and allow you to get the kind of care you want.
- Discounts for health: A policy will not cost nearly as much if you start one while you are still fairly young. Forty-five is a great age to start looking around because you can get lower rates, and shopping for long-term care insurance ealier will give you time to find the right policy.
- What will they pay out?: The type of nursing home you can afford depends on how much money you will get out of this policy. Look around and find the policy that will benefit you the most.
- How protected are you?: Some policies add protection by offering things like inflation protection, which pays you more money since it will adjust to the inflation of the times.
Being open about what you need and taking your time are some great tips for how to shop for long-term care insurance. Finding the exact policy for you will make the transition into an assisted facility much smoother. Another way to ease the path is to find which of the Angie's List customer-reviewed top rated nursing homes in Charlotte you want early so that you can build your policy around affording that particular facility. Take care of yourself now so that you are guaranteed proper care for when you need it.