Reasons to Buy Long Term Care Insurance

1. You Are Far More Likely to Get Assistance If It Is Someone Else’s Money Paying for It

If you wish assist and don’t have long term care insurance, what does one do? You get help from family and friends. Loved ones are essentially forced to help; otherwise you go while live without help.
When family and friends will not offer the extent of care you wish, you pay down your own assets to pay money for care till you've got very little left, and at that time government help Programs obtain the price of your care in an extraordinarily qualified nursing facility.
You are likely to access care faster when you have Long Term Care Insurance. This can be one in every of the explanations people buy long term care insurance - so that they have the flexibility to access care faster and use the insurance company’s cash to pay money for it.

2. Premiums are lower and payouts are higher when you enroll in your 50s

The most obvious financial reason to to think about  " Long Term Care Insurance " now a days is that buying a policy  now is much cheaper, and provides higher payouts, than getting once you are in your late 60s or early 70s At face value, this isn't intuitive: : your monthly premiums could also below once you are younger, that is as a result of you may pay in longer before you receive advantages. However, over the course of your life, the total amount you pay in is lower if you start when you're 55 than when you're 70.
3. You can't wait for a diagnosis

 Unlike with health insurance, long-term care insurers can deny you coverage supported pre-existing   conditions or poor health.If you already have a diagnosis of a chronic disease, you may struggle to seek out associate insurance firm willing to just accept you, and if you are doing get coverage, you may pay through the nose for it.
Dementia typically begins to set in after age 65, while the age of onset for Parkinson's disease is just 60. Then we have time to a minimum of think about long-term care insurance is now, while you're hale and hearty, before age-related diseases render you ineligible.

4. You Want Freedom of Choice

When you purchase long term care insurance you will have the essential resources to give quality care, and you will have the ability to decide on however and wherever you receive this care. While not substantial resources of their own, or people who failed to obtain  long term care insurance, simply won't have as many choices.

5. Combined life insurance policies

If you've thought about taking out a life insurance policy to care for your family if the worst happens, you would possibly conjointly think about a combined life and long-term care policy. Such policies allow you to get an advance on your life insurance benefits, or sell the policy at face value, to fund long-term care. If you eschew long-term care insurance, you might consider a bundled life insurance policy as a hedge against expensive care.