Long Term Care Insurance for Alabamians

Do You Need Long Term Care Insurance?

The costs for nursing home and elder care are ever on the rise. Starting to plan now is the best way to ensure that coverage will be there when you need it. You and your family will be protected when you reach the point of needing assistance. Your assets and finances will be protected as well because you made plans for your elder years. Your later life will be far more secure. 

Most people find that they need long term care when they reach the point of not being abIe to perform their usualy daily activities. They may be impaired because they are chronically ill. They may be impaired due to a disability. This impairment might be short term or temporary or it could be permanent. Regardless, long term care is invaluable in these situations. 

What About Medicare?

In most cases, if you are on Medicare because you are over 65, you won't receive coverage for long term care. Medicare seldom pays for what is known as custodial care. Reasons why you might not need to consider long term care are Medicaid coverage (if you have very few resources) or if you have substantial financial security. If you fall into the latter category, If your assets are too great to qualify for Medicaid and too small to pay for long term care out of pocket, then long term care insurance is definitely a prudent option for you.  

Determine whether you need long term care insurance. Review the following criteria: 

  • The cost of the monthly premium is affordable and you could afford an increase if necessary
  • The total of your assets average at greater than $80,000 and your annual income averages at least $35,000.
  • Your age is between 40 and 84 (most companies)

Contact the knowledgeable and professional independent insurance agents at Best Insurance. We offer long term care insurance options and want to help you with the policy that best fits your needs.