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Long Term Care

Long Term Care Insurance Policies

Chicago Insurance Advisors

When you are in need of long-term care, it can be a frightening and financially draining dilemma. Daily health care can be exorbitantly expensive, but some of that burden can be lessened by opting to apply for long-term care insurance.

A long-term care policy will do into effect when a person requires care on a regular, sometimes daily basis, for at least 90 days per annum. For those who are having difficulty taking care of typical daily tasks or taking care of themselves, it might be necessary for a long-term caregiver and this kind of coverage can help in providing this.

Long-term care is often reserved for the elderly. Caregivers often deal with the daily activities of a person under their care which allows a loved one to live at home. This kind of policy is not just for the elderly though. It is also an option for those with a physical disability or some kind of mental deficiency.

Generally, a monthly premium payment is made to an insurance provider. A good portion of the costs for long-term care are then covered. As long as the monthly premium is paid regularly, these costs are covered and often it is non-taxable, which is a great benefit.

Costs for adult day-care, assisted living and nursing home care can be covered too with this kind of insurance. Also, out-of-pocket costs for things like prescriptions, needles, canes, and other things can be included as well.

When you have costly medical needs, a long-term insurance policy can help you to meet these expenses. Determine what kind of premium you can best afford and then plan the level of care that fits into that determined budget. Long-term care insurance can be a saving grace in giving you the care you need for yourself or for your loved ones.


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