Social and financial experts agree that far too many people still do not plan their future financial security properly and comprehensively. Most people can expect to live much longer than their forebears and without adequate financial security the retirement years can become a veritable nightmare. Worst of all, a large percentage of people never even consider the possibility that a time may come when they will no longer be able to look after themselves. Getting a long term care quote should be a matter of high priority.
Many people mistakenly believe that their medical insurance is adequate to take care of matters when extended personal assistance becomes necessary. This is simply not the case. At best, medical insurance will cover short term rehabilitation after surgical procedures, accidents or illness. Thereafter the cost of such assistance is for the patient and his family to pay. Full time assistance can be extremely costly.
Policies that specifically cover the cost of ongoing personal assistance, either in an institution or at home, are offered by most of the large insurance companies. The cost of permanent or even part time personal care by a professional can be staggering, especially if one thinks about the fact that such assistance may be required for many years. Getting insurance for such a situation is simply a sensible and responsible step.
It is also important to consider the fact that infirmity and frailty are not the exclusive domains of the elderly. Accidents and disease render many younger people and children unable to perform even the most basic personal care tasks. In many cases lifelong personal assistance will be required. The families are not always able to provide the level of assistance that is required and there is also the dilemma of the future of the disabled young person once his family is no longer there to care for him.
It is not easy to evaluate the offerings of the various insurers or to compare the various policies that they offer with each other. Each insurer has different terms and conditions and the benefits offered by the different policies fluctuate wildly. In some cases insurers will only pay if the patient complies with a number or criteria, such as the ability to walk or to perform basic tasks such as eating independently. Other insurers will only pay for basic or intermittent care and some will not pay for a live in caregiver.
This is why it is vital to get several quotations from a variety of insurers before making a final decision. It may also be worthwhile to consider only policies that can be upgraded at a later stage. Many people find it very difficult to compare the pros and cons of the various quotations with each other. This is because there is no standard format in which such quotations are presented.
Comparing quotations against each other can be very difficult. The best route may be to ask advice from a broker that has experience in dealing with this type of policy. Organizations specialising in caring for disabled and frail people can also provide very valuable pointers. Another option is to use one of the many websites that specialize in obtaining comparable quotes on behalf of their users.
Considering a life where it is impossible to perform even basic personal tasks can be depressing. However, considering such a life without professional help can be a nightmare. Purchasing an appropriate policy will at least ensure a dignified and endurable life.
Many people mistakenly believe that their medical insurance is adequate to take care of matters when extended personal assistance becomes necessary. This is simply not the case. At best, medical insurance will cover short term rehabilitation after surgical procedures, accidents or illness. Thereafter the cost of such assistance is for the patient and his family to pay. Full time assistance can be extremely costly.
Policies that specifically cover the cost of ongoing personal assistance, either in an institution or at home, are offered by most of the large insurance companies. The cost of permanent or even part time personal care by a professional can be staggering, especially if one thinks about the fact that such assistance may be required for many years. Getting insurance for such a situation is simply a sensible and responsible step.
It is also important to consider the fact that infirmity and frailty are not the exclusive domains of the elderly. Accidents and disease render many younger people and children unable to perform even the most basic personal care tasks. In many cases lifelong personal assistance will be required. The families are not always able to provide the level of assistance that is required and there is also the dilemma of the future of the disabled young person once his family is no longer there to care for him.
It is not easy to evaluate the offerings of the various insurers or to compare the various policies that they offer with each other. Each insurer has different terms and conditions and the benefits offered by the different policies fluctuate wildly. In some cases insurers will only pay if the patient complies with a number or criteria, such as the ability to walk or to perform basic tasks such as eating independently. Other insurers will only pay for basic or intermittent care and some will not pay for a live in caregiver.
This is why it is vital to get several quotations from a variety of insurers before making a final decision. It may also be worthwhile to consider only policies that can be upgraded at a later stage. Many people find it very difficult to compare the pros and cons of the various quotations with each other. This is because there is no standard format in which such quotations are presented.
Comparing quotations against each other can be very difficult. The best route may be to ask advice from a broker that has experience in dealing with this type of policy. Organizations specialising in caring for disabled and frail people can also provide very valuable pointers. Another option is to use one of the many websites that specialize in obtaining comparable quotes on behalf of their users.
Considering a life where it is impossible to perform even basic personal tasks can be depressing. However, considering such a life without professional help can be a nightmare. Purchasing an appropriate policy will at least ensure a dignified and endurable life.
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