Who Benefits From Long Term Care Insurance?

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    David RacichPRO
    Fountain Hills, Arizona
    If the value proposition has sound financial virtue, then the long term care policy owner benefits for the purchase. But it also benefits assisted home living and nursing home care, an industry that specializes in gerontology care. It also benefits the immediate family can’t take the time to care for elderly parents. 
    Answered on July 1, 2013
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  2. 180 POINTS
    James E. Tome
    In addition to the above comments, the family benefits.  Average cost for a nursing home in the US, paid for long term care, usually in the range of $6,000.00 per month. An estate can be quickly depleted by the cost of long term care. Many people believe that Medicare pays for long term care, quite the opposite. Medicare pays only for the first 20 days. Medicaid pays for long term care, however you have to spend down any assets to qualify for Medicaid benefits. Long term care policies also come with a "ROP" or Return of Premium rider, a great option to consider when thinking about a long term care policy. Underwriting can be more challenging to overcome than the price of the policy.
    Answered on July 2, 2013
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