An increasingly popular choice is the long-term care insurance. Benefits include reduced rates or locked if bought well in advance of its use. Another plus is that most LTC premiums qualify for tax deductions. Remember, however, long-term care insurance no health insurance. It is a supplement to, not a substitute for health insurance.
Tips and considerations in long-term care insurance:
-Consider buying a policy for you or your parent reached the age of 65. Today the healthy 50-year-old pays an annual interest rate of about $ 1500 for LTC coverage, while a healthy 65-year-old had to pay $ 2000 to $ 3500 This increase compared to a decline in health. The overall level is expected to increase significantly in the coming years.
-Read the small print! Ask an Elder Law Attorney to check before you sign. Whether the premium can be changed in the future (for example, whether additional resources can be added, the coverage has been adapted to the changes in health, and whether it will continue to be consistent if an emergency evacuation called a movement), and at what price.
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