Five reasons to buy long term care insurance, including some you may not have thought of, part 1

By Colleen King, LA Insurance Examiner

No one wants to think about getting old, possibly passing away, etc. Especially when they want you to spend money on it that you could spend having fun now--who are we kidding?

I think by now most people have heard that care for us in our 'golden' years will be expensive, that they should plan, but here are some thoughts as to why it helps to buy Long Term Care (LTCi) coverage as it related to your family. As far at what age should you buy it.

These well delineated points came from an article by Harry Crosby in the trade publication Agent's Sales Journal. It will debunk a few myths that some people have, where their children will take care of them....

1. You will have a professional available to help plan the care that you need. Many times the company providing your coverage will have a case manager available to help coordinate services and find the services you need--that can be tough!
2. Your family can still help take care of you but not have to do all the planning. Having Long Term Care insurance does not mean they can't take care of you, it actually can help stretch your policy out longer.
3. Once you need care, your family will be able to maintain a more normal life, not juggling things to take on all aspects of your care due to finances.
4. With coverage, your family will be able to take care of you out of love, not guilt or obligation. This can be a huge strain on a family dynamic, believe me!
5. Because of the 'pool of money' your long term care policy affords you, there are more options for your care particularly when it comes to a facility. Certainly more options than a straight cash pay or MediCal patients. Money runs out--with LTCi it will stretch your funds out longer. AND, if you do end up needing to go on MediCal if you are in a facility, they can't boot you out if you end up on MediCal and they don't have enough MediCal designated beds.