Smart Shopping Can Be Lucrative
Start searching for insurance policies when you enter your 50s or 60s to find the best deal. Every year you wait to purchase a policy, you risk prices increasing by several percentage points. For example, the AARP states that initial premiums at age 65 are between 8 and 10 percent higher than the same customers at age 64.
Don’t miss your chance to save. Start shopping now to determine what long term care insurance costs in your area.
Regular Health Insurance Doesn’t Cover Long-term Care
A typical health insurance plan won’t pay for long stays in specialized facilities. Medicare likely wouldn’t either, but that would depend on your doctor’s diagnosis and the specific facility you must go to. Be sure to check your current policy to determine what level of long-term care is available to you before purchasing a long-term care policy, as you wouldn’t want repeating benefits in most cases.