Stories of how people benefited from Long Term Care insurancePosted: March 8, 2012
People who protected themselves financially, in case a need for high cost on going help happened, did so by investing in this important kind of insurance. They report they took action because:
- They did not want to burden family or others.
- They want to be in control so they can make their own decisions on the type of assistance and where it will be received.
Many others who put off taking action to protect themselves may find themselves facing things like:
- A quick loss of savings if assistance were suddenly needed. Why? The cost of long term services and support in Connecticut are some of the highest in the U.S.
- A higher premium when they apply later. Why?. Rates are 33% higher at 55 vs 50 and 60% higher at 60 vs 55!
- Not being able to obtain coverage. Why? They are now uninsurable because a change in health!
These short stories from six people highlight how Long Term Care insurance helped them and their family. These videos were published by LIFE (the Life and Health Foundation for Education)
When we look around at the probability of needing help at some point we find it is quite high. Even when the facts are there many people have not taken action to protect themselves. Thus, the question becomes – Do stories like you can see in these videos help you better understand the need to take action by investing in this important kind of coverage?
Let me know what you think.