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Gone are the days when people would prepare for their long term health care and custodial care five years before hitting retirement. Since the country experienced a recession some four years ago people have become wiser. Losing one’s home and turning to the streets for refuge is not something which someone who has worked his fingers to the bone for the past 20 years can easily recover from. Now that everybody in America has gradually risen from the economy’s downturn, they’ve learned to prioritize the essentials. Apart from the basics such as food, clothing and shelter, there’s one’s future health and custodial care to secure through a long term care insurance quote. Long term care used to be associated with the elderly, but today’s youth know better. There’s no doubt that many of them have seen the transition in the lives of people who have been disabled after a terrible accident or paralyzed due to an enfeebling sickness. In the past, we’ve read stories of famous celebrities who were barely in their 50s when they were diagnosed with Parkinson’s and required long term care. At 30, Michael J. Fox was at the peak of his career when the debilitating disease attacked him. Muhammad Ali just retired from his boxing career when he was diagnosed with the sickness at the age of 42. These events just prove that sickness does not recognize age and when it hits you, you just have to be ready to face it head-on. However brave you are, you have to be financially equipped to be able to face your sickness and the cost of long term care. Having a long term care insurance quote will save you from the unthinkable cost of long term care facilities. Unless you have more than $2 million in assets you will never be able to self-insure, as the rates of nursing homes, assisted living facilities and even home care are increasing rapidly. Based on the records of top LTC insurance policy providers, the median annual rate of a nursing home has increased by 4.35% since 2005. Assisted living facilities, on the other hand, have increased by 6%. Meanwhile, home care only rose by 2%. If you’re 40 years away from requiring LTC, you’ll probably be spending four times more of the current cost of LTC according to economists who have predicted a fourfold increase in all LTC facilities sometime in 2030. Where to Get a Long Term Care Insurance Quote If you want to get hold of a negotiable quote, consult your insurance agent who is affiliated with top LTCI carriers. However, you have to do this now while you’re young, healthy and earning to make it possible for your agent to clinch a good deal for you. If you wait till you’re 65 before approaching your insurance agent and letting him know of your intentions to buy a policy, no matter how good he is on his field, he won’t be able to help you especially if your health is no longer in tiptop condition. Now if you don’t have an agent, your state’s Department of Insurance is always open to assist you. For more information on the provisions of CLASS Act, visit CompleteLongTermCare.com. Be informed and read details on the 3 in 4 need more campaign.
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