Facts About Long Term Care Insurance In Northridge And Pasadena, CA

Posted by myagentla on November 10th, 2020

"Human beings are mortal." Well, this is a simple fact that no one wants to think about. Sure, life expectancy has increased by leaps and bounds with modern medicine contributing to unexpectedly long lives, but death cannot be avoided totally. Moreover, one needs to depend on caregivers at the fag end of life, too, especially when they reach the grand old age of 70-80.

Trying to put together a nest egg has become the focus of many individuals, but those who suffer from memory lapses often find it woefully inadequate. One of the best ways to ensure well being and proper care during the twilight years would be to invest in a well-formulated plan for long term care insurance in Northridge and Pasadena, CA. The idea does seem exciting, but the concerned individual needs t check the facts and garner as much information as possible to ensure all associated benefits.

What is long term care (LTC) insurance?

Well, it is a specific insurance plan aimed at the aging population. It offers coverage for living in assisted care facilities, employing a home health care provider, and adult day care center services for individuals aged 65 or more. Elderly persons with debilitating conditions and mobility issues may require 24X7 supervision, with the charges being reimbursed by the insurance company. Several senior citizens favor LTC plans as it offers more options and flexibility than Medicaid. Another aspect that interests people are buying this insurance plan that is readily available to all individuals as long as it remains affordable.

What does LTC insurance cover?

There are several plans available through private insurance carriers. It is advisable to discuss the matter with a reputed insurance agent to find a suitable one. LTC plans are flexible and can be customized following the requirement. The following are usually covered by long term care insurance:

· Assisted living facilities

· Nursing home care

· In-home care

· Adult daycare services

· Care coordination

· Home modification for the betterment of life

The right time to buy an LTC plan

It is understood that the benefits of long term care kicks in only after one is unable to remain independent. Waiting until one needs to employ a caregiver at the age of 70+ can be cripplingly expensive. Some insurance experts suggest buying LTC between the ages of 45-55 to avail of cheaper premiums. Sure one would be paying extra money for all those years when there was no need to rely on a caregiver or assisted facility's services. Still, insured individuals are happy to obtain tax deductions on the premium. Similarly, companies that offer employee benefits in the form of LTC also get to deduct the amount by terming it as a business expense while filing tax returns.

It comes as no surprise to earn that most US populations opt for life insurance in Glendale and Northridge, CA, to secure the lives of near and dear ones after their demise.