Long Term Care Insurance (LTCI) The need as well as the cost of Long Term Care Insurance (LTCI) continues to grow. With the cost of nursing home care expected to quadruple over the next 30 years, it is imperative that it be purchased early to be most effective. Keep in mind that LTCI is not just nursing home care for elderly people. One of the most important needs that LTCI can provide is home care when an individual is rehabilitating after a surgery or accident. While health insurance may pay some of the bills there are many limitations.
Premiums for LTCI are based on age and are not guaranteed. By purchasing a Long Term Care Insurance policy by your early 50's, you are protecting your insurability and assuring yourself a much lower base premium than purchasing at 65 or 70. In fact, under most plans, you can prepay your premium during your working years and have a paid-up policy for your retirement security. Don't wait until it is too late to purchase this long term asset.
In addition to your eligibility, your spouse, parents, parents-in-law, grandparents, grandparents-in-law, and employees are eligible.
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