Why Get Long-Term Care Insurance Now

Long-term care insurance helps keep people living in their homes longer, minimizes the financial impact on friends and loved ones, and increases your level of care either in your home or at a facility. Often people wait until they’re in desperate need of additional support before looking into their options. Here are a few reasons why a long-term care insurance plan makes sense now.

Lower Premiums

If you know you may need long-term care insurance at some point in the future, there’s no time like the present to lock in lower rates. As you age, your risk assessment places you in different pools resulting in higher premiums or more restrictive coverage.

More Comprehensive Care

Many factors contribute to your total LTC benefits. Over time, premium costs rise, you get older, and coverage types change. If you wait to enroll in your LTC insurance plan, you risk losing benefits or coverage all together. The younger you start your long-term care insurance plan; the more comprehensive care options will be available.

A Jump into the Elimination Period

Most long-term care insurance policies will have a waiting period of 0-120 days to be utilized. It will be easier to start your coverage with less financial impact if you do so when you’re not already in a situation that warrants long-term care.

With impending changes to the Medicare system and an ever-evolving political climate, depending on social security or public healthcare to support you in your time of need is a risky endeavor. Take some time now to research your long-term care options and put a plan in place before you need it.

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