Starting a Long Term Care Insurance Plan in Houston at an early age is important for several reasons. First, a person does not have to be elderly to need long-term care. Most people utilizing care services are older, however, accidents, strokes, diseases, and work related injuries have resulted in people of any age requiring long-term care. It is not pleasant to think about, but having coverage would take a great deal of stress off family members in a time of tragedy. Getting a policy early would provide the same peace of mind that comes with having health and life insurance.
Another reason is to plan accordingly for future expenses. A Long Term Care Insurance Plan in Houston covers licensed and custodial care at home, at an adult daycare, in an assisted living facility, and a nursing home. Costs for those services are currently high, and will only increase in the future. According to Genworth’s 2015 Cost of Care Survey, the least expensive form of care is an adult day care. At five days a week, that cost is currently $9,100.00 in Texas. Nursing home care for a month is $68,000.00. Starting to plan at 50 or 60 years of age will not provide sufficient coverage should long-term care be needed. Beginning to plan at age 25 or 30, ensures coverage will be available in the right amounts.
Policies can be customized in four areas to suit needs and budget considerations. The monthly benefit can be adjusted to lower the cost of the policy. The benefit duration can also be altered. The elimination period of the policy is similar to a deductible, so there is some flexibility with this component. Inflation protection is optional, so it can be excluded if necessary. It is best to get all the information possible, and talk to a company that is experienced in long-term care insurance policies. Click here to get information, get quotes, and get questions answered. Understanding exactly what the policy covers for services, and the amounts of coverage is important for holders and family members. Start to plan early, discuss what the needs might be, and decide on an insurance policy that will suit both the needs, and the budget.
