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Many articles have been written on the prerequisites of individual long term care insurance (LTCI) policies. One write up even stated that this type of insurance product is not designed for everybody, as it is too expensive so before one requests long term care insurance quotes online he should assess his finances first. To expound more on the qualifications of an ideal LTCI buyer, writers of these articles noted that a person should have assets not lower than a million dollars otherwise he should not consider an individual LTCI policy at all. Obviously baseless articles because insurance experts have repeatedly said for as long as an individual is active at work, healthy and earning a monthly salary which is more than enough to meet his basic necessities and satisfy his caprice in life, he is more than qualified to purchase an insurance policy for his long term care. More than 52% of 40-year-old individuals in lucrative jobs are contemplating buying a comprehensive LTC insurance policy. Scared stiff of the circulating news that a possible fourfold increase in LTC rates will take place in 2030, these youngsters took the initiative to plan their long term health and custodial care. These young professionals acknowledge the fact that 40 years down the road they will require assistance in the activities of daily living such as bathing, eating, dressing, and walking among others. Unfortunately, the rate increase speedup of long term care facilities is beginning to turn them into pessimists so before fear gets the better of them, they mustered the courage to act on their future needs. Since they used to bear the notion that individual LTCI policies are only intended for people with stocks, bonds, rental properties, and livestock among other, these regular employees tried to look the other way in hopes of finding a better alternative. Of course, they are aware of employer-sponsored policies but they don’t find its limited benefits attractive. Medicaid came into view, too, but they vehemently turned down the idea. According to them, they don’t want to lose the little things that they’ve worked hard to acquire just so Medicaid will take them in. Besides, they are college degree holders so they wouldn’t want to end up on the streets and rely on food stamps. Clinching Affordable Long Term Care Insurance Quotes Experts on the field of LTC insurance applaud the initiative of young people to plan their future instead of relying on government funded health programs for their LTC expenses. Since they are only 40, these responsible kids only pay an annual premium of $1,900 for a comprehensive policy with $200 maximum daily benefit for a benefit period of five years. Some of them, however, opted for a maximum daily benefit of $100 instead of $200 and have managed to pull down their annual premium to $720. The best thing about buying an LTCI policy at a very young age is the ability to integrate an automatic compound annual inflation protection into your policy without having to worry about premium cost. With this inflation rider, a policyholder can expect his maximum benefit to double in 15 years or even less. Are you 40? Bet you’re among those in search of long term care insurance quotes. Avoid financial crisis after retirement by getting long term care plans. Research and compare long term care insurance quotes at CompleteLongTermCare.com.
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