Will You Invest in a Long Term Care Insurance?

Do you ever pause in your everyday activities to ask yourself what your life would be 30 years from now? When that time comes you won’t be as strong and as mentally sharp as you are now, so have you at some point considered yourself to be among those who should buy long term care insurance?

You might say that you won’t need a long term care (LTC) plan because your family does not have a history in any debilitating disease. Besides, you are a health buff who goes to the gym three times a week and practically lives on vegetables and fruits.

It is, indeed, amazing that amidst the country’s junk food eaters and fast food patrons there is still someone like you who manages to pursue a healthy lifestyle. Good for you because your chances of living into your 100th birthday are big. However, geriatricians say individuals who live very long are susceptible to different kinds of geriatric diseases and will eventually require some level of care.

Perhaps this is something that you would like to look into.

LTC refers to a wide array of services offered to people who cannot manage to live independently because of physical limitations or cognitive impairment. Persons who are chronically ill or handicapped, and older citizens suffering infirmity require LTC but only a few of them are privileged to receive topnotch care because this type of health care is very expensive.

In-home care recipients are spending $19 per hour, on average, for a home health aide who is responsible for providing custodial care such as assistance with one’s activities of daily living (ADLs) like eating, dressing, bathing, toileting, continence, and transferring or walking.

Unfortunately, individuals with serious medical conditions are spending a lot more in nursing homes which cost between $77,745 and $220,000 a year.

Who Should Buy Long Term Care Insurance?

Many people think long term care insurance (LTCI) is optional because they already have health insurance. But the truth is that no health insurance policy will pay for one’s LTC expenses because this product only covers doctors fees, vision or dental checkups, limited prescriptions, and some medical procedures.

Everybody will need some level of serious care when he’s past the age of 65 not necessarily because of an illness. At 80, it would be impossible for you to function like a 30-year-old because your body’s tissues are no longer intact as that of a younger person. This is the natural cycle of the human body and thus aging is inevitable.

When you wake up one day unable to get up from bed let alone get yourself to the bathroom, start observing yourself. If this goes on for three months, there’s no doubt you seriously need LTC. At the onset of care, your family can shoulder the responsibilities of a caregiver but later on you have to consider hiring a professional caregiver otherwise you will hinder your loved ones from pursuing normal lives.

Anyone who values his life and his family won’t bother to find out who should buy long term care insurance. He won’t have second thoughts investing into his own policy.