With the tremendous growth of the baby boomer population, long-term care insurance has expanded in popularity. You may want to consider long-term care insurance if you are adamant about maintaining your independence, which includes making your own decisions about where you want to live. Paying for a long-term care policy definitely lessens the stress of not knowing where to go in the event you need to make a quick decision.
The best time to buy long-term care insurance is when you are in your 50s. That’s because rates tend to increase 6-8 percent per year once you hit your 60s. Some additional tips to keep in mind when you are shopping around for long-term care insurance include:
- You can design your own policy depending on whether or not you want to be in a nursing home, assisted living facility, or in your own home.
- Be sure to ask about exactly what your long-term insurance covers. For example, are hospitalizations or hospice care covered?
- Find out what the exact levels of reimbursement are per day and for covered charges.
- Research the nursing homes and assisted living places in your location of choice and find out if they are covered under your long-term care policy.
Contact us to find out more about all the policies we carry. We serve the residents in the Sacramento area, including Lodi and Elk Grove. Check out our personal insurance in Lodi, CA, for example, and ask us for a free, no-obligation quote.