No one wants to throw away money. You work hard for your money and you deserve the right to keep it for as long as possible. When you’re shopping around for certain types of insurance, though, it can be incredibly frustrating, confusing, and nerve-racking.
When it comes to long-term care insurance, there are numerous misconceptions about it. Some people simply think it’s not necessary. After all, they may assume, “I’m never going to need long-term care, so why bother carrying this type of insurance?”
Those people are assuming things they can’t possibly know. You don’t know what tomorrow will bring, much less 10 or 20 years from now. Just because you are in perfect health and there’s no family history of serious health issues, including cancer, heart disease, stroke, or even Alzheimer’s doesn’t mean you will get away in your Golden Years without dealing with at least one or more of these health factors.
When you sit down and contemplate long-term care insurance, you’re making a wise decision. That is especially true if you have retirement savings, a portfolio, investments, and even own a house. Long-term care insurance can, in fact, help you protect those assets.
Now, to choose the right long-term care insurance policy for your specific needs, consider the following fundamental factors:
Your age at the time you begin a policy will have a marked impact on the monthly premiums. For example, if you begin a long-term care insurance policy when you’re 48, that policy may cost you $100 a month as a premium (please understand this is only an example and not a representative quote of any kind).
However, if you decide to wait until you’re 63, that same policy might cost you $250 a month. In between 48 and 63, those 15 years, anything can happen; you could suffer a major medical emergency, become involved in a serious automobile accident, or require major surgery. You just don’t know when you could need long-term care.
As noted, your age at the time you begin the policy can impact monthly premiums. If your budget is limited, though, you can make some adjustments to the policy to bring your monthly premiums down. However, this is going to sacrifice certain benefits a long-term care insurance policy can provide. Getting a quote will help with this decision.
Understand What It Will Cover
One of the most important things to understand about any type of insurance is what it covers. Don’t make assumptions. If you don’t know, ask questions. The more questions you ask, the more answers you receive, the more empowered you will be to choose the right long-term care insurance policy for your needs.
If you or a loved-one are considering a Long-Term Care Insurance Quote in San Marcos CA, please contact Steve Elliott at Capstone Insurance for an honest discussion about your future and your options. Call today (858) 350-3161.
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