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2021

3 Reasons to Get Long Term Care Insurance

What is Long Term Care Coverage?

Long-term care insurance is designed to provide financial support for those with chronic illnesses, conditions or disabilities. For long-term care patients, the type of assistance needed can range from assistance with showering and bathing, meal planning and medication reminders to more skilled care provided by nurses, doctors and other healthcare professionals. As with all types of insurance, different long term care insurance policies offer a wide range of coverage options. There is no way to predict your future long-term care needs, so a policy with flexible options is often a smart decision.

Reasons Why Long Term Care Insurance is a Smart Idea

It’s easy to put off something like getting additional insurance coverage for your future self. But the hard truth is that we never know when we are going to need such coverage so doing it today is the best thing you can do for yourself. Here are three of the biggest reasons to explore long term care insurance and how this type of protection will benefit you now and for the rest of your life. 

  1. Protect Your Assets 

You work hard, save your money, invest in your retirement; all of the things you are told are smart for your future. However, when catastrophe hits, and unexpected expenses arise, you could be forced to dip into those savings vehicles early or lose assets that you don’t want to lose. By obtaining long term care insurance, you protect those existing assets, providing another mechanism to cover the high costs associated with medical care, living expenses and major life changes that can happen. 

  1. Keep Your Options Open

None of us want to become a burden to our friends or family if we were to find ourselves in the need of additional care or monetary assistance. More important than protecting our pride, we also don’t want to find ourselves in a position where we have to compromise on our care or treatment as a result of what we can afford. Long term care insurance will help in all of these areas. There are policies that can provide you with coverage that keeps your options open to the best care available, cover your  living expenses, and coverage for personal assistance such as live-in aids or around the clock care. Knowing that in the event of a tragedy or life altering incident that as many options as possible are available to you is beyond valuable. Investing today in your long term care will ultimately give you peace of mind should something happen that requires you to utilize the coverage in the future. 

  1. Preserve Your Quality of Life

Depending on what is most important to you, long term care insurance policies can be personalized to fit your wishes in the event of a life altering incident. If remaining in your home for as long as possible is a priority, then you can construct a policy that enables you the best chances of making sure that happens and the right assistance is brought in to make you as comfortable as possible. Be sure to think through what those types of wishes would be ahead of time to ensure you are getting coverage that suits you and what your future self will want. 

Let Nickerson Insurance Help You Find a Long Term Care Policy Today

For more information about long-term care policies and the different services they provide, contact us to speak with one of our experienced insurance agents today.

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