There are generally 5 things to consider when purchasing long term care insurance. We will cover all 5 over the next 5 days.
FIRST, Purchase Sufficient Coverage. You want to get enough coverage to pay for the cost of long term care. This can be done by considering the current cost of nursing home care (ie. in 2009 the average nursing home cost in Pennsylvania is $7,235.00) and consider the inflationary rate in order to project the future cost. The insurance company will assist with this projection. If you fail to get adequate long term care coverage the future cost could bankrupt your family.
Get as much information up front about long term care insurance before you buy. Make sure your agent is knowledgeable about the coverage provided by the company they represent.
Do you have questions or want to make a comment? You can leave your comments here or contact us at http://www.ythlaw.com./
FIRST, Purchase Sufficient Coverage. You want to get enough coverage to pay for the cost of long term care. This can be done by considering the current cost of nursing home care (ie. in 2009 the average nursing home cost in Pennsylvania is $7,235.00) and consider the inflationary rate in order to project the future cost. The insurance company will assist with this projection. If you fail to get adequate long term care coverage the future cost could bankrupt your family.
Get as much information up front about long term care insurance before you buy. Make sure your agent is knowledgeable about the coverage provided by the company they represent.
Do you have questions or want to make a comment? You can leave your comments here or contact us at http://www.ythlaw.com./
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