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Long Term Care Insurance - But I'm Only 30.With US politicians now talking about Universal Care, the question that naturally arises regarding long-term care insurance, is if it is still a necessity in today’s political climate. The wheels of congress grind slowly, and waiting for the US health care system to change is a gamble at best. However, what can be counted on is that as soon as congress starts a serious discussion about providing health care for its citizens, the K street lobbyists of all the entities that benefit from the present health care system will descend of them. Congress has caved in to the pressure brought on them by the for-profit health care industry before, and there is nothing to guarantee that they won’t again. This reality then returns us back to the topic of long-term care insurance as something that needs to be considered as part of a plan for the future because despite the advances in modern medicine, illnesses and deteriorating health conditions cannot always be avoided. The fact is that we’re all living long but the aging process cannot be staved off forever and according to a recent MetLife survey, the average cost of a private nursing home room is about $70,000 per year.. The average stay in a nursing home varies by the type of condition that put someone in the facility. For example, those who suffered strokes require an average of 21 months of care, those with cancer average 36 months, and those with Alzheimer's average 96 months. This does not mean that you or one of your loved ones will ever need the level of care provided by a nursing homes, but the majority of the aging do/will require some form of additional assistance that family members may not be able to provide. As such, long term care insurance policy can be structured to cover many options of in-home health care. In addition, long-term care insurance does not just pertain to the elderly, as a good percentage of the patients at rehabilitation nursing homes are younger adults who have been incapacitated due to injury or serious illness. However, regardless of the above statistics the main reason that those who decide to purchase long term care insurance, is to protect their own, or a loved one’s assets when and if the need for long term care should arise. With the increasing daily reality that each of us will one day require some form of long term care, long term care insurance becomes the option of choice for those wanting to protect family's assets because before the government will step in with benefits, the majority of those assets would have to be depleted. If the passing of assets to family members is important, then you should definitely be considering some form of long term care insurance as a way of protecting their inheritance. |