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Choosing Long-Term Care Insurance
By Lance Winslow
A little over sixty percent of the folks who reach 65 years of age will need some long-term care. The average nursing home stay ranges from 2-5 years and costs on average of $135.00 per day currently in the United States. These averages and costs are going up little by little each year? Can you afford to be without long term-care insurance? You know there are over 35 million Americans over 65 in the US and that number is rising also, this is due to people living longer and the general trend in demographics as less people are being born. It is the same general argument over social security, which will be fine depending on which year you were born, but for the rest of us? Well, it isn?t very pretty. Some in the media have begun to call Social Security a ponzi scheme, which actually if my math is right; is not so far from truth. Most long-term care insurance policies include things such as: Nursing Home Care In-Home Assistance with Daily Activities Adult Daycare and Other Community Based Programs Assisted Living Services; including meals, health monitoring and transportation Daily Nursing Supervision for those with Chronic Illnesses. The real issue is the complete disparity of premium costs. It is best of course to buy such coverage long before turning sixty five if you want any sense of a good deal on the coverage. The best time to buy coverage is between the ages of 51-60 where the average premium for a good plan will run you under $1000.00 per month. But you need to do your homework and shop around. Additionally it might be smart to ask for an ?Inflation Rider? which will protect you from inflation as the costs will be going up in the future, everyone is quite certain of that as the current trends seem to be pointing in that direction. If you are not careful and do not have such insurance it is possible to wipe out your entire nest egg before you pass and that means no inheritance to the offspring and the last years of your life in a poverty type setting. Please do think on this. 
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