Consumers Reminded to Consider Long Term Care Insurance

10/3/2010

Public awareness is continuing to expand nationwide about the importance of planning for one's financial needs in their retirement years - especially in areas like long term care insurance.

Long term care insurance covers a variety of expenses that people become statistically more likely to require as they become older - from home health aides to nursing home stays. In fact, those who require nursing home care may face some of the largest financial burdens of all since the cost of such services have risen dramatically in recent years.

Even those who are lucky enough to maintain their health and live independently will often face higher medical costs that will not always be covered under the Medicare program.

In a recent report in New York's Rochester Democrat & Chronicle, one family was featured that had recently begun to confront the realities of such planning as their 89-year-old mother dealt with a dementia diagnosis.

The report went on to point out that younger people will pay less for long term care insurance premiums, and that those with assets of at least $75,000 or an annual individual retirement income of $35,000 should especially consider getting a policy.

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