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Choosing Long-term Care Insurance Policies

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Choosing the right long term care insurance policy for you is very easy. Just consider factors such as benefits, cost of premiums, tax-qualified policies and partnership policies. These factors can …

Choosing the right long term care insurance policy for you is very easy. Just consider factors such as benefits, cost of premiums, tax-qualified policies and partnership policies. These factors can help you find the policy that can satisfy your long term care needs in the future.

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  • 1. Choosing Long-term Care Insurance Policies Image courtesy of Stuart Miles Freedigitalphotos.net
  • 2.  Long-term care refers to services provided to individuals with chronic illnesses, disabilities, and other conditions that prevent them from being able to take care of themselves and perform daily activities on their own.  Visit http://www.ltcoptions.com/long-term-care- insurance/ for more information on ltci policies.
  • 3.  Long-term care refers to services provided to individuals with chronic illnesses, disabilities, and other conditions that prevent them from being able to take care of themselves and perform daily activities on their own.  Services can cover a wide range of care needs from simple meal preparation, dressing, bathing, to more skilled care given by nurses, physical therapists, and medical professionals.
  • 4. Why Get Long-term Care Insurance?  Your company or employer healthcare insurance does not pay for long-term care or extended care services.  Medicare only covers short-term care, specifically, 100 days of skilled nursing care.  Getting a private long- term care insurance policy can help you pay for your possible long- term healthcare needs.  It gives you more options and access to quality care where and when you want it.
  • 5. Benefits  Choose a policy that has the most important benefits or coverage you want.  For example, in-home care should be included if you wish to receive long-term care in your home. How to Choose Policies
  • 6. Cost of Premiums  Try to balance your benefits with the cost of your total premium.  For example, only get the benefits you want so that your premiums will also remain within an amount you are able to pay now and well into the future. How to Choose Policies
  • 7. Tax-qualified Policies  Be sure to get “tax- qualified” long-term care insurance policies.  This means you can deduct the value of your premiums from your federal income taxes.
  • 8. Partnership-qualified policies  If you buy a policy that qualifies for the State Partnership program for long-term care, you can keep more of your savings and assets if ever you use up all your policy benefits and need to apply for Medicaid assistance. image courtesy of scottchanFreedigitalphotos.net
  • 9. V I S I T : WWW.LTCOPTIONS.COM Learn more about long-term care insurance.

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