Desert Schools Financial Services explains what you should know about long term care insurance

Posted at 7:59 AM, Jun 15, 2017
and last updated 2017-06-15 13:07:35-04

Desert Schools Financial Services is a paid advertiser of Sonoran Living

As we grow older, we are often in need of some type of long term healthcare. Per government statistics, more than 70 percent of seniors need long-term care during their lifetime. Below, experts at Desert Schools Financial Services provide answers to important questions regarding long-term care insurance:

What is Long Term Care insurance?
Long-term care insurance is a type of insurance policy that helps take care of the cost of long-term care for people suffering from chronic illnesses, while standard health insurance, such as Medicare or Medicaid, helps pay for immediate medical expenses such as a hospital bill. According to the American Association for Long-Term Care Insurance, only about eight million individuals have long-term protection, out of more than 313 million eligible Americans.

What is covered by a long-term care insurance policy?
Long-term care insurance generally covers any needs such as home-based care, assisted living, hospice care, nursing home care and more.

What's the best age to buy this policy and who qualifies?
This insurance policy is available to anyone ages 18 and up. You never know when you might need the coverage and it's better to be safe than sorry. A good goal to put in place is to purchase long-term coverage once it's within your budget. As a tip, the cost of coverage is significantly less at a younger age than someone who purchases later in life.

How do you know if you'll need this coverage?
You might want to consider this type of coverage if you have a family history of chronic diseases. Alternatively, a long-term policy is always a good idea to consider for assisted living later in life.

Ultimately, the decision to purchase long-term care insurance is always up to the individual's budget and needs. Experts at Desert Schools Financial Services can provide answers to determine whether or not a long-term policy is something to consider. Call 602-336-5531 or visit, for more information.

Desert Schools Financial Services is a paid advertiser of Sonoran Living