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Long Term Care Insurance: A Smart Investment

As we get older, it’s important to start thinking about our long-term health care needs. That’s why Long Term Care Insurance (LTC) is such a great option for those who want to ensure that they receive the best possible care if and when the time comes. Let’s take a closer look at why LTC Insurance can be beneficial for you and your family.

What Is Long Term Care Insurance?

LTC Insurance helps cover the costs of extended medical and non-medical services for those who are unable to perform basic daily activities due to age-related conditions or disabilities. This type of policy is designed to help those individuals with tasks like bathing, dressing, eating, transferring from bed to chair, using the bathroom, etc. The policy pays out a certain amount of money each day or month depending on the terms of the policy and can be used in a variety of ways such as assisted living facilities or home health aides.

The Benefits of Long Term Care Insurance

The main benefit of having LTC Insurance is that it helps provide financial security in case one cannot pay their own medical expenses due to age-related conditions or disabilities. It also offers peace of mind knowing that if something were to happen to you, your family would not be left with an enormous financial burden.

Additionally, LTC Insurance can help reduce stress on family members who may otherwise have difficulty providing physical and emotional support for their loved one with limited resources. And finally, it can help protect one’s assets since any unused funds would remain with the insurer in case they need them later on in life.

Should You Get Long Term Care Insurance?

If you are concerned about your future healthcare needs and want some extra financial protection in case you ever require long term care services, then getting a long term care insurance policy might be a good choice for you. It’s important to shop around and compare policies from different companies before making your decision so that you know what kind of coverage is available and how much it will cost you each month/year. Keep in mind that premiums vary depending on age and pre-existing conditions so make sure to factor this into your decision as well.

Ultimately, purchasing LTC Insurance provides an extra layer of security that could prove invaluable down the line. Get in touch with Brandon Patterson at our agency by calling 865.453.1414 or emailing to discuss your LTC insurance options.