We are living in a time and season when life is getting shorter and more fragile. As much as we are working and making money all the time and the only thing many of us are concerned about is today and not the future.
But as our lifestyle changes every day and we are getting exposed to long term health conditions we are slowing down and thinking it is good to put something aside for the future just in case we are not able to work at some point. The fact that has dawned to many people is that we are becoming lazier every single day and using vehicles to get to places where we could just have walked and as we get more busy making money then we do not have time to work out and get our health in control. On the other hand, we are so busy that we are getting to feed on fast foods because there is basically no time to cook since we are running from one job to another.
Long term care insurance is a plan which allows people to keep insurance for your health in case you get down with a long term illness and you need someone to take care of you. the plan covers right from small medical check-ups to the extreme home based care. You as the contributor puts something at the end of the month top make your life easier in future in case the worst happens and you are not able to take care of yourself or work. In some cases, it is about you just in case your family is not able to look after you or they are not near you to make your life better even when you are suffering physically.
But the policy that you will buy depends on many things;
One your age and health condition; when people are younger, the contribution is less and they will not have to strain to get the policy serviced every month. However, your health condition at the moment will also be a factor to consider.
This is because if you already have a long term condition at the time you are buying the policy, you will probably have to pay a little higher than the other people because you may need the care before too long. On the other hand, if you are old you will also pay a bit higher because may be your chances of getting a disease are higher than the young person.
Two, your income; if you earn very little, then you will contribute little too. This is because the premiums are based on a percentage of your salary. This will also mean that the care this person will get is not as good as the person who contributed more because they have a higher salary or income. When the companies are looking at what you can pay every month, they also consider your assets and your ability to make money.
This will also look at your chance of sustaining your monthly premiums in terms of if you have a constant and promising income.
Three your support system; when the insurance companies are getting you registered or enrolled for the policy, they will first look at your close people and the chances you have to get help from them when your health is deteriorating.
What are your support systems? In this case they look at the possibility of having someone support and take care of you before you can ask for help from outside. Many people enroll just for the fear of being neglected by their families during the time of extreme health need and lack of trust that someone will take care of them the right way. Most especially, when you have a low income and it looks like you will strain to pay the premiums, just exhaust all the options that you may have instead of committing your money and never using it because your family decided to take care of you the right way.
Four, your savings; when you have little savings, then it not very safe to buy this insurance.
Your lawyer will look at your savings and assets and advice on the right path to take because you need to have enough right from the beginning to buy this cover. The lawyer will explain the advantages and disadvantages of taking this step and then advice the right way in case you feel you want to take the risk.
The only part that makes people hesitant is that they may never use this policy because they might never get in to any condition that needs that basic care like bathing, feeding, dressing to mention just but a few. In such a case then the cover is just useless but because we never know what tomorrow hold, it is good to weigh the option