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Many California residents don't want to think about the prospect of requiring long term care in the future, but those who plan for this event are in much better position than those who overlook the importance.

According to Census Bureau statistics, approximately four percent of people age 65 or older occupy nursing homes. Furthermore, almost 50 percent of people age 95 or older are living in a nursing home.

While you never know what the future holds, you have to consider the benefits of buying long term care insurance. This often times begins with learning more about the many insurance companies selling coverage, including how much a policy would cost as well as what you would get in return. Keep in mind that the younger you are when shopping for coverage, the cheaper it will be.

Before purchasing an individual policy through an insurance company, check with your employer to see if they offer coverage through a group policy. If they do, this is likely to be your most affordable option. You may also be able to have the premium deducted directly from your paycheck, making sure that you keep your coverage active.

Even though your health and age will impact how much you pay for long term care insurance, it makes sense to consider your many options regardless of your current situation. When you learn more about the companies that sell insurance, it becomes easier to move forward with the buying process. By choosing a reputable provider, you lessen the chance of running into an issues like denied claims in the future.

Source:  WBZ, "All About Long-Term Care Insurance" Dee Lee, Jul. 10, 2014

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