The reality of aging can be daunting. Many of us will deny the fact that, well, we are getting older every day. Few of us want to admit and face the fact that we are "old."
But grownups have to live and plan based on reality. Doing so regarding certain matters, however, can be expensive and confusing. The option of long term care insurance can be both of those: expensive and confusing.
Despite its cost and complexities, long term care (LTC) insurance can benefit many men and women. FindLaw reports that more than 1/3 of the population comes to depend on LTC coverage during their lifetimes.
You might think that this statistic suggests you probably won't need LTC insurance. Think about your individual history and risks when making the decision. Long-term coverage can be applied toward care needed for a serious illness or injury care. It can (and is more commonly) applied toward care and housing that the elderly might need at the end of life, such as for a nursing home or assisted living facility.
The costs of a nursing home or similar setup are not easy to afford. Investing in an LTC insurance plan can protect you and your loved ones from having to come up with, for example, the reported average of about $200 per day for a nursing home.
Of course, getting the coverage one is owed for their long-term care doesn't always come as easily as one would expect. Someone who is denied the coverage that they deserve can seek the assistance of an aggressive insurance lawyer in order to defend their interests.