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LTC Insurance Companies - Interesting Facts |
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| Date Added: October 13, 2010 03:45:04 PM | |
| Author: gihanna12 | |
| Category: Products: Business | |
Insurance is a type of risk management when the risk of a loss is transferred from one entity to another in exchange for payment. There are large number of insurance companies that provide their services in guaranteeing to pay your possible expenses if a certain situation happens. For example, in case you have got a car insurance and your motor car has been stolen, you'll receive the compensation of its cost from the side of insurance company. Thus, you pay money for the peace of your mind, since from that moment the risks of prospective expenses are levied on the insurance company. LTC insurance, or long-term care insurance, is a widespread product both amongst elderly and young people. Such kind of insurance generally covers care not covered by regular health insurance and commonly includes assisted living, home care, adult daycare, respite care, nursing home or hospice care. The individuals that need such long-term care are generally unable to perform the fundamental activities of daily living (ADLs), for example, bathing, dressing, eating, walking, toileting or transferring (like getting in and out of a bed or chair). It's a general opinion that only old people require such care, but this is not true. In accordance with the statistics, about 60 per cent of long-term care recipients are people over 65. But the rest 40 % include people in the age of 18 to 64 years. In such a way, age is not a governing factor in applying long-term care. While selecting the LTC insurance quote you need to take into consideration your age and state of health trying to assess what type of care may be required. Depending on the LTC insurance quote the insurance company will pay for a visiting or live-in caregiver, companion, housekeeper, physician, private duty nurse. The period of their work is also dependent on the insurance quote you select. The provided care is 7 days a week 24 hours a day. Apart from absence of necessity to pay for the given long-term care, the advantages of long-term care insurance products include independence. You may be sure that in case anything happens to your health there'll be no necessity to bother your children or other family members. |
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