The majority of people need long term care insurance because not everyone will afford the cost of the nursing home facilityAround 50% of Americans will require long term care insurance in their life time so it makes sense to ensure your care insurance includes/covers the following...
Inflation protection. Ensure you get a long term care insurance policy that includes inflation protection because the cost of these nursing homes will be considerably more in 15 to 30 years time.
A minimum of 70% Daily Benefit. If you require care services, ensure you don’t pick the cheapest daily amount. Instead investigate what the average daily cost is of a nursing home in the area and request around 70% of that. Also ensure you adjust this annually to account for changes per year.
Independent Care Management. The long term care insurance company will send a representative to determine the benefits you needIt’s essential to make sure your long term care insurance policy enables you the option of having a licensed health care provider that is independent and not someone working for the long term care insurance company.
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