Long term care insurance

Rating: +0

This will pay for the cost of Nursing Home or at Home Care. If it fits within a person's budget, it may be a very wise way to pay for Long Term Care and protect your other assets. Policies should be scrutinized carefully to insure that they provide adequate coverage. For example, coverage for Alzheimer disease should be covered in any policy you would consider. The length of time for coverage in a nursing home generally need not be longer than five years, a period of time long enough to allow a person to make gifts upon entering a Nursing Home without violating the Medicaid five year look back period. It is important to only buy a policy that is approved by the insurance commissioner in your state. In Massachusetts and many other states individual policies are strictly regulated, but group policies are not. This does not mean that a group policy is necessarily a bad choice, but it does mean that you should carefully examine any group policy you may consider purchasing to make sure it best meets your needs.