Considerations When Shopping for Long-Term Care Insurance

The moment you begin shopping around for long-term care insurance, you’re making an important decision. Yes, as with any insurance policy, long-term care insurance cost is another expense, but if you’re in your 50s, for example, then this is the optimal time to begin a long-term care insurance policy.

Why is it optimal?

Between now and your retirement years, the risk of serious health issues, injuries, or other medical emergencies that could require long-term care begins to increase, sometimes dramatically so depending on your lifestyle, family history, and other factors.

When you’re shopping around for a policy and long-term care insurance cost, here are three things you should consider or understand (and look out for) with your agent or broker.

1. A family caregiver might be eligible to be paid through the policy.

Long-Term Care Insurance Cost Oceanside CA - Considerations When Shopping for Long-Term Care Insurance

Long-Term Care Insurance Cost Oceanside CA – Considerations When Shopping for Long-Term Care Insurance

It’s easy to assume that only professional caregivers or care facilities, like assisted living communities or nursing homes, qualify under most long-term care insurance policies.

In reality, a good policy will allow you to choose what type of care you receive. That may include paying a family member who takes care of you, like your spouse, adult daughter or son, grandchild, or even a close family friend.

There are certain provisions that would need to be met, though, in order to receive those payouts, such as making sure this is legitimate, that the individual is actually providing those services, and that you definitely require them at that time.

2. You should get a choice on the type of care you receive.

If you don’t want to be in a nursing home but would rather remain in the comfort of your house relying on senior home care, that is something a quality long-term care insurance policy should allow you to do.
Some people assume they won’t have a choice and would need to either go to a nursing home or assisted living facility, for example. But when you choose a quality policy, it should provide you the option of deciding what type of long-term care you receive.

That isn’t to say that sometimes the choice will be beyond your control. For example, if you suffer a major stroke and would need care in a nursing home for three or six months, you may be able to return home, but it may be more cost-effective and beneficial to be in a nursing home for those initial months of recovery.

3. You and your spouse can benefit from the same policy.

A quality long-term care insurance policy will offer coverage not just for the holder, but also for his or her dependents. In most cases, this would include your spouse. But, what if you have a disabled adult child you’re taking care of?

What if you’ve become his or her primary caregiver for most of their life? What if, at some point in the future, they require long-term care? That could be included in the policy.

The sooner you begin a policy, the more affordable long-term care insurance cost can be, and the more certain provisions may be permissible, so don’t hesitate. Start a policy as soon as you can.

If you or a loved one are considering Long-Term Care Insurance Cost in Oceanside CA, please contact Steve Elliott at Capstone Insurance for an honest discussion about your future and your options. Call today (858) 350-3161.