Article published by : Georgina Thorne on Wednesday, July 04, 2012 - Viewed 731 times

Category : Insurance

What Is Long Term Care Insurance And The Benefits It Provides?



What is long term care insurance and why is the government so concerned about those who still do not own one? What benefits can it give the individual if ever he decides to avail one?

An LTC insurance policy is a type of insurance plan that helps the individual pay for all his needed LTC services and facilities that could aid him in his speedy recovery when dealing with certain illnesses or simply because of old age.

The government is aware how expensive an LTC plan could be especially in the next couple of years that is why they are eagerly pushing the public to avail their own as early as possible to prevent themselves from paying for much more expensive and higher policy premiums.

Also, the more people who insure themselves of an LTC plan, the lesser beneficiaries Medicaid would have. Thus, the billions and billions of dollars that it spends every year would decrease and it can focus on other services that it also covers.

The costs and rates of LTC-related services and facilities offered in the country grow by as much as 12% every year so it might be even harder for those who are still uninsured to get one if they plan to postpone their policy acquisition. Younger policyholders are often given cheaper LTC rates and higher levels of inflation protection that they can take advantage of once they start receiving their policy benefits.

Aside from what is long term care insurance, the question that is often heard from the policy applicants is about the different benefits that they could get from it once they finally decided to buy one. And sometimes, knowing these benefits can make or break the deal for them so it is important for the insurance companies to explain carefully and thoroughly all the details that the person needs to know.

An individual with an LTC plan is entitled to get care and treatment from licensed and authorized medical professionals like doctors, nurses, and even caregivers to ensure that their wellbeing and health needs are properly taken cared of. These medical workers are assigned to make round-the-clock supervision and management if the insured person is confined in a nursing home facility.

Aside from supervising the health of the policyholders, they also design and create specific programs and activities based on the needs and health requirements of each patient to assure that they can quickly recover even before their policy’s benefit coverage period is up. Their loved ones will also be informed of any issues or concerns regarding their stay in the nursing home or other assisted living facilities.

LTC insurance policy owners who chose to stay in adult day care facilities can also use other health and medical equipments that they might need as long as their insurance contract covers it.

All LTC plans must include all the basic and mandatory LTC features in order for the policyholder to fully enjoy the benefits that his insurance plan provides.

To learn and understand clearer what is long term care insurance, and to know the answers to any other concerns or doubts that you might have in mind, contact your insurance provider now or browse through some websites that provide LTC online assessment tools for easier and quicker information gathering.

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Keywords: long term care quote, long term care insurance costs

By: Georgina Thorne

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