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All About LTC Insurance Companies

Date Added: October 17, 2010 10:41:33 PM
Author: gihanna12
Category: News & Media: Business

Insurance constitutes a kind of risk management when the risk of a loss is moved from one person to another in exchange for payment. There are numerous insurance companies that offer their services in ensuring to pay your prospective expenses in case a certain situation occurs.

For example, if you have got a car insurance and your automobile has been stolen, you'll receive the compensation of its cost from the side of insurance company. In this way, you pay money for calmness, since from that moment the risks of prospective expenses are levied on the insurance company. Long-term care insurance, or LTC, is a popular product both amongst elderly and young people.

This form of insurance commonly covers the care that is not covered by health insurance and usually includes assisted living, home care, adult daycare, respite care, hospice care or nursing home. The people that demand this care are commonly unable to accomplish the basic activities of daily living (ADLs), for instance, bathing, dressing, eating, walking, toileting or transferring (such as getting in and out of a bed or chair). It is a general point of view that only old people need this care, but this is not true.

According to the statistics, about 60 per cent of long-term care takers are people over 65. But the rest 40 % are presented by people in the age of 18 to 64 years. This way, age isn't a governing factor in using long-term care. While choosing the LTC insurance quote you have to take into account your age and state of your health with an attempt to evaluate what kind of care may be needed in future.

Depending on the LTC insurance option the insurance company will pay for a visiting or live-in carer, companion, housekeeper, therapist, private duty nurse. The period of their work also depends on the insurance quote you select. The maximum care provided is 7 days a week 24 hours a day. In addition to absence of necessity to pay for the provided long-term care, the advantages of long-term care insurance products include independence. You may be certain that if something is wrong with your health there will be no need to create problems for your children or family members.

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