Long Term Care Insurance - Make sure these are included in your policy!

The majority of people need long term care insurance because not everyone will afford the cost of the nursing home facility. Around 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...

Variable Coverage. Get a long term care insurance policy that includes coverage for home health aids, assisted living facilities, adult day care providers and nursing homes so you’ll have the best choice of care.

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 need. It’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.