Is Long Term Care Insurance Worth It?

If you are over 65, you may be asking yourself is long term care insurance worth it? Let’s look at the pros and cons of long-term care insurance. Medicare does not pay for custodial care and private health insurance rarely pays any of the costs for long term care.

When you retire, do you expect to have lots of money to live on or very little? Because when you think of long-term care, you want to think about your health and how long you expect to need care. Will it be for a few months, a few years or for a long time?

If you expect very little money to live on and you need long term care services, you may qualify for Medicare. If this is the case, you probably won’t need long term care insurance. If you expect to have a lot of money (meaning your net worth is in the millions) then you need long-term care, you might want to consider treating long term care like it was any other monthly bill to pay.

Now, if you fall within the range of these two types, you may want to consider purchasing long term care. Insurance coverage offers peace of mind and financial benefits.

If you live in California, Connecticut, Indiana or New York, these states have a partnership program that includes long-term care; therefore, insurance would not be necessary.

To find out more about long term care insurance and its many advantages, Call Advanced Insurance Concepts today and Jim Rooney will work with you to find the answer. Advanced Insurance Concepts works with a variety of insurance companies and all Medicare Advantage providers in Missouri and Kansas. He is licensed to sell Health, Life and Accident Insurance, so call Jim Rooney for all your insurance needs.