Long Term Care Insurance — What Distinguishes It From Standard Health Insurance Plans?

Long Term Care Insurance

Long term care insurance coverage is usually excluded from a standard health insurance policy. 120 days is the maximum period of extended care in a health plan (And we are referring to very comprehensive health insurance plans only). If you think you might need long term care, then you’ll do well to get this policy if you want to protect your assets and future.

But before we go further let me clear things up: Medical care is different from long term care and is fully catered for by a normal health insurance plan irrespective of how long it takes. Nevertheless, for long term care that come in the form of assisted living, it comes under a long term care insurance policy.

So what is assisted living? Since assisted living is the major separating line, what really amounts to assisted living? This refers to a situation due to old age of a health condition that makes a person incapable of handling simple things like getting in and out of bed, dressing up or bathing with the assistance of someone else.

Initially family members handle it and in some cases they cope with it all through even though it could drain a family emotionally, socially and financially. Those who can no longer handle giving such care all alone, they are compelled to hire long term care givers. And, if you consider that some may require such care for a year or more, you’ll appreciate the toll it could have if you don’t have insurance coverage for it.

Another option is a nursing home. It could cost as much as $90k per annum depending on the place and level of care required. Apart from the very rich, this is a sure recipe for financial ruin. So long term care insurance is a good addition if you have substantial assets but can’t handle such expenses.

If you forget everything you’ve read don’t miss this: Even if yours is a very comprehensive health insurance plan, it will only give coverage for non-medical care and assisted living for at most 120 days. However, long term care insurance too does not serve as an alternative to health insurance. They are both different but useful insurance policies.

Not everyone needs long term care insurance. You don’t need it if spending $100k extra a year won’t make you poor. You also don’t need it if you don’t have substantial assets and are sure you’ll be poor enough to take advantage of Medicaid.

If you need long term care insurance and want to save much, visit and get long term care insurance quotes from at least three quotes sites. Evaluate the quotes you receive and pick what represents the best combination of adequate coverage and affordable rate.

To find more tips, obtain and compare quotes from top rated insurance carriers from your locality, click here affordable health insurance and low cost health insurance. Chimezirim a tested writer on insurance savings.