Most people have never done this, but in your 40;s or early 50;s, have you ever thought about what might happen if you need long-term care in the future? If you are like most of those other people, you haven’t. In reality, though, this is something to consider, just as long-term care insurance is something you should seriously think about and what long-term care insurance premiums will buy you.
Tomorrow, anything can happen.
You might be a very routinized person. You may go through the same exact things every day. You might wake up at the same time, even before your alarm, put your feet on the ground and hit it running with enthusiasm.
You may eat the same food for breakfast, read the same newspaper or Internet news sites, drive the same route to work and back, and so on.
And though you do the same things the same way every day, accidents happen all the time, even to people like you, people who have a very set routine and never seem to stray far from it, if at all.
Tomorrow, somebody could swerve into your lane on the highway. A person could be texting on the phone and their car drifts right into your lane of oncoming traffic. You could be distracted for just a split second on the steps, lose your footing, and topple down.
You may not even realize you have a serious health issue that can affect your heart, cause blood clots, or even a brain aneurysm. You see, tomorrow is not guaranteed and you have no idea what may happen.
So, what would happen if you didn’t pay long-term care insurance premiums for insurance?
Well, if you need a long-term care of any kind, you would have to pay for it yourself. Some people could do that without question. They might not even blink an eye. It may create almost no debt with their finances if they had to pay for nursing home care out-of-pocket for six months or more.
That’s a wonderful place to be, but very few Americans are actually in the position to do that. If you lived in Alaska, for example, six months of nursing home care could run you over $150,000.
Most people, at this point in the blog, will feel their jaw drop open. They are stunned by just how much a nursing home can cost.
If you think Medicare or Medicaid is going to cover it, think again. Most health insurance policies, including Medicare, won’t pay for long-term care. They will only pay for a few weeks of short-term care.
After that, the federal government would expect you to pay for the long-term care out of your own pocket and assets, which may include the equity in your house, if you own it.
So, before you ignore long-term care insurance or avoid thinking about what might happen if these unfortunate circumstances arose for you or your spouse or some other dependent, now is the time to consider it and find out what long-term care insurance premiums might be.
Don’t assume nothing bad is going to happen to you. Every day, the unexpected strikes.
If you or a loved-one are considering Long-Term Care Insurance Premiums in Del Mar 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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