Everything You Need to Know About Long Term Care
It's very easy to get lost in the world of insurance. Between car, boat, house, pet, bike and health insurance, the thought of adding any more insurance bills is a bit daunting. Furthermore, we have family, friends, lawyers, financial advisers all telling us what type of insurance to buy, where to buy it, etc. Throw in the Internet and our library of resources balloons exponentially. Soon we ignore everyones advice and just forget about it. But in some cases that's obviously not the right decision to make.
Certain types of insurance are required by state law. Long term care insurance is not one of them, but as more and more baby boomers reach their 60s and 70s and the cost of health care rises, LTCI (long term care insurance) is becoming a pretty hot topic. The New York Times recently opened up a Q&A about LTC and the response was overwhelming. Interestingly though, many of the comments were not necessarily about how to shop for LTCI, but instead questions on what long term care insurance actually was. Obviously there is a need to educate the public about this issue.
Below is a list of websites that will help explain everything you need to know about long term care and LTCI.
- http://www.longtermcare.gov/LTC/Main_Site/index.aspx - A website created by the U.S. Department of Health and Human Services to help families understand, plan and pay for long term care. Resources include a glossary and definitions of long term care terms, costs of long term care and much more
- http://www.opm.gov/insure/ltc/ - This website is dedicated to the Federal Long Term Care Insurance Program, designed to assist federal employees with receiving long term care insurance.
There other great resources for learning about long term care, including Wikipedia, Consumer Reports and AARP. It's always wise to research any of your insurance needs before contacting an agent. Spending 30 minutes or more browsing the web will allow you to work with your long term care insurance agent and understand what they are offering.
LTC Connects takes a different approach to long term care. Our goal is to connect you with information so you can best decide if long term care insurance makes sense for you. Visit http://www.ltcconnects.com to learn more about LTC and to find a long term care policy that is customized to fit your needs.
Source: http://ezinearticles.com/
Added: August 11, 2008
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