Looking at both sides of a long-term care rider.
Should you consider buying life insurance with a long-term care rider? Studies continue to show that Americans will require long-term care at some point in their lives, as much as up to 70 percent. Typical costs for long-term care facilities can run anywhere between $70,000 to $150,000 annually in a semi-private or private nursing home. If the average American stays there for at least three years, the sum can total a shocking figure.
In short, it makes sense to consider purchasing a life insurance policy with long-term care benefits if you don’t have other plans in place. While you may believe that loved ones and children can take care of you, many individuals need constant supervision and care – something that young children cannot always provide. Long-term care insurance is great as a plan B, too.
Bear in mind that there are many different types of long-term coverage products available. As such, it may see, daunting and overwhelming to select the right policy for your needs. There will be different policies to choose from, and the prices and pitfalls that accompany them may be considerable. Luckily, a trusted insurance agent is just a phone call away!
With so much value riding on long-term life insurance, it’s wise to secure the best policy for your needs. Contact a trusted insurance agency with experienced agents who can adequately advise you. Are you ready to get started? Then contact the team at Donald Weiss Insurance Services. Our professionals are ready to get you the coverage that you need today.
