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Learn more about long term care insurance before buying

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Our California readers are in the same boat as many others, thinking about purchasing long term care insurance to protect against future trouble. Even though most people understand the importance of insuring their valuables, such as a car and home, they don't think about their own life in the same way. For this reason, they overlook the importance of buying long term care insurance.

While nobody knows what the future holds, there is a good chance that you will need some type of long term care as you age. The Department of Health and Human Services has said that 70 percent of people who are age 65 today will require some type of long term care service before they pass on.

When purchasing this type of policy, it is important to consider the cost and coverage. Along with this, make note of what you can receive from public programs, such as Medicare.

Additionally, since there is more than one type of long term care insurance, you need to become familiar with the finer details of each option. This is the only way to ensure that you are buying the right policy at the right price.

If you find yourself in need of long term care down the road, it will be advantageous if you have a long term care insurance policy in place. This will allow you to get the help you need, without worrying about how it will be paid for.

Nobody wants to make a long term care insurance claim, but being able to do so is better than finding yourself without a policy. Make long term care insurance a priority and if you need more information, consider seeking advice from your legal and financial advisors.

Source: Your Houston News, "Three things to know about long-term care insurance" Byron W. Ellis, May. 24, 2014

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