Some people will not admit that they will need long-term
care insurance because they’re still young and healthy. But will still enjoy
this same level of good health when you’re 65 and above? According to the
latest report, 7 out of 10 of Americans who are 65 and above will require long
term care.
The cost of long term care is steadily rising nowadays and
because of this, people should explore their options on how to foot the bill.
There are government programs available but Medicare doesn’t pay for the core
of long term care while Medicaid will ask you to spend down your assets first before
you can become eligible for benefits. A more efficient and effective
alternative is long term care insurance policy. It is very beneficial since the
policy guarantees to cover your bill, you can receive tax-free benefit, gives
you leverage and investment freedom.
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