Forum Insurance

I am copy-pasting lines from the article I found on one of site. If you find it useful, you can learn more about it on

www (dot) long-term-care-insurance-planners (dot) com

1. Keep your independence and dignity.
Seniors who are unable to pay for their own long term care must first have no substantial assets before they can qualify for Medicaid assistance. Medicaid may not allow you the choice of home care or an assisted living facility. Instead, it can insist on nursing home care. Also, Medicaid insurance typically only pays for a semiprivate room and not all nursing homes accept Medicaid patients. Many people may feel a loss of dignity at being in a nursing home environment.

A long term care insurance policy gives you more options of care and freedom. You can decide to be cared for in your own home or in an assisted living facility. Ultimately, if a nursing home is needed, the policy coverage will pay for the nursing home care.

An individual may be able to deduct part of the premiums for a long term care insurance policy and benefits paid out will generally not be taxable as income. List on Form 8853. Benefits paid to you under a non tax-qualified long term care plan may be considered taxable income. Buying a non tax-qualified plan could increase your tax liability and reduce the value of the benefits.

I appreciate your efforts to reply to my post. Thanks

Long-term care insurance generally covers home care, assisted living, adult daycare, respite care, hospice care, nursing home and Alzheimer's facilities. If home care coverage is purchased, long-term care insurance can pay for home care, often from the first day it is needed.

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Post Edited (28-01-2011 04:54)

Long term life insurance is a need not only for those with families but to anyone who wishes to feel secured. It is not based on your civil status. Insurance in general is meant to make people feel safe and secured.