You may have a lineup of long term care plans but the question is how effective are these plans to your health care needs?
Having plans A, B and C for your future healthcare can be confusing and what’s more, this kind of strategy can eventually lead to procrastination. For instance, your initial plan is to invest in an annuity, Plan B would be reverse mortgage while Plan C is to sell your farm and house. You can contact with extended care insurance agent if you are looking for life insurance.
There is no concentration so you can wake up one day and change your mind for another set of plans, and the day after that you will want something else again.
In recent years long-term care (LTC) insurance has gained in popularity, mainly because it is so new and takes time for people to comprehend. Created in the 1980s as a way to prepare oneself for retirement, long-term care insurance policies are now held by nearly eight million group or individual plans. This shows how few people have it and how it is gaining in popularity.
Unknown to them, long-term care policies provide services and facilities that the residents might need in the coming years. According to some studies, all individuals, especially those who are aged 60 and above, would require receiving LTC services at least once in their lifetime, and that the average duration lasts for three years.