Some Long-Term-Care Insurance Is Better Than None

In my experience of helping people plan for a possible extended care crisis in their future, I have found that many people are looking at this from a “100% insurance” perspective, which is cost prohibitive. Our health insurance plans we have today at traditionally “80/20″ plans, where we have to pick up 20% of the costs AFTER we pick up the $2,000 or $5,000 deductible

So why not take on some of the risk and pay for 20-40% of our extended care costs should we need it, and let the insurance company pick up the majority?

Yet today, as SMART Money has described, many are failing to take any insurance to protect themselves after getting “sticker-shocked” at the premiums that are covering them 100%!

We don’t expect our health insurance to cover 100%, yet we still cover that risk for the hospital, testing, docters, etc.  Yet somehow we expect our Long-Term Care insurance to pay 100% and don’t like the premium that comes out.

As I have spoken to many care facilities locally in the Tri-Cities, having some LTC insurance is better than none, when extended care is crucial.  The facilities seem to agree that they can begin to work a plan of care for the family member when there is a LTC policy to make a claim on.

Read More from Long-Term-Care Insurance is Better Than None at smartmoney.com.

For Long-Term-Care Insurance in Eastern Washington, contact me HERE.