Long-Term Care Insurance
What is Long-Term Care Insurance? Long-term care insurance differs from other insurance policies such as critical illness insurance in that it is not used when a person is diagnosed with a specific illness, but is used when a person is unable to perform daily life activities such as bathing, dressing and walking on their own without the regular assistance of a family member or caregiver. Most people think that this type of insurance will only be used by older people but in fact about 40% of long-term care insurance is used by those people under the age of 65. For those people under the age of 65 and apply such a policy, this will be the case if they have a disease such as Parkinson's disease or a recent dementia that can only occur in those in their early 50's. For people over the age of 65, about 60 percent of them will need some care in their lifetime. If you add this fact to growing older people, it can be a worrying thought of how you will pay for care in the future. Gene