Long term care Insurance

So I wanted to talk a little bit about Long-Term Care Insurance because November is Long-Term Care Insurance Awareness Month and essentially what long-term care insurance does is that it transfers the risk over to the insurance company if an individual needs long-term care either in home care or nursing facility care, so the policy will actually pay out for somebody to come to the house take care of that individual if they need help, bathing eating, things like that or it'll actually pay to put that person in a nursing facility and a couple of the reasons why people purchase long-term care insurance, and really the number one reason is they want to protect the retirement nest egg if anyone has ever had a parent or grandparent go through the experience of needing long-term care health they know how expensive it can be and for an individual living on a fixed income it can really decimate their retirement nest egg as well as you know thinking about their kids, a lot of individuals don't want their kids to come to their house and help them bathe or help them prepare food you know people are very independent nowadays and they want to keep their independence even at a time when they do need help and really at the end of the day I don't think any parent really wants their children to take upon that burden if there's another option so long-term care insurance comes and helps pay for those kinds of costs another reason why individuals would get long-term care insurance is a lot of people don't want to go to a nursing home they love the house they live in they love the life they built for themselves and they just need somebody to come in and help them prepare some food help them get dressed in the morning and long-term care insurance pays for that you know kind of service, so I hope this helped get a little bit of understanding about long-term care insurance thank you

Source: Youtube

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