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What's the difference between Long Term Health Insurance? |
What's the difference between Long Term Health Insurance and Long Term Life Insurance? I want to make sure my parents are probably covered as they are now in their 50's. The goal is to get them covered for in house nursing care instead of a nursing home. Long term care insurance covers services such as skilled nursing home care; some policies also cover home health care, if it will prevent the insured person from a nursing home stay (which is WAY more expensive). Term Life Insurance covers a person for a set number of years, such as 5, 15, or 20. At the end of the term, there's usually the option to renew the policy (without providing evidence of good health) for another term, but at the rate for the person's new age. Typically, term policies can be renewed up to a maximum age -- so if they live past the maximum age, they're left with a policy they cannot renew. If this is an issue, you might want to consider a "Whole Life Policy," provided you've confirmed the coverage won't terminate or the face amount reduce after a certain age, like 99. Long Term CARE insurance is coverage when they are too sick and cannot perform 2 or 3 of the normal life duties such as toileting, eating etc. and need someone else to do it for them, such as nursing home or caregiver. The younger you are when you purchase this, the cheaper it is. Health Insurance is medical insurance for when you visit the doctor or hospital Read the policy.. since it differs for every policy http://insuranceassurance.notlong.com... Well, you are looking at LONG TERM CARE insurance, not long term health insurance. But you have to read the coverages VERY carefully, as most of the time, they don't do what you think they do. You'll have to talk to a local, independent agent to get quotes on exactly the kind of coverage you're looking for - and have them explain exactly WHAT is covered, for HOW LONG. agent, 21+ years please try this <a href="http://www.jdoqocy.com/click-1748196-104... target="_top">help!</a> |
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