When it comes to buying homeowners or car insurance, many of us don’t hesitate. But if you think about it, the odds of needing nursing home care at some point may be higher than losing your house to fire or totaling your car.
There are two main reasons why people put off buying a Long-Term Care policy. One, who wants to think of themselves as becoming dependent on others or needing a nursing home somewhere down the road? Two, many people assume that Medicare will cover the cost.
Unfortunately, the first assumption isn’t realistic, and the second isn’t real. First, it is increasingly normal that, as we age, we need additional support. Second, Medicare is limited to long-term care coverage. To protect your family and your finances, buying a Long-Term Care policy now is the smart thing to do. Buying a Long-Term Care policy now gives you the assurance you’re covered if and when the time comes that you do need the help.
Here’s what a Long-Term Care policy can do for you:
- It helps you maintain your financial independence, so you won’t have to rely on family members.
- It helps you protect your assets and preserve your children’s inheritance.
- It makes long term care services affordable, such as home health care and custodial care.
- It not only pays for nursing home care if needed, it also helps give you more options than other than nursing home care.
- It can help preserve your standard of living.
A Long-Term Care policy from ASBA lets you choose everything from your daily benefit amount, as well as your elimination and benefit period. This policy has no requirement for a prior hospital stay, no waiting period for pre-existing conditions, and no premium increases with age. Plus, this policy pays in addition to any other insurance you already have. Learn More Here.
