Why Purchase Long Term Care Insurance?

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September 23, 2013

Peggy Mace

People purchase long term care insurance because they want to protect their assets, and because they want to be involved in the decisions about what long term care they receive. Having a long term care insurance policy can pay the insured person funds that can be used to pay for a home health aid, personal assistant so they can live in an independent living residence, or monthly charge for assisted living or nursing home. While it gives the person freedom to choose the care they are most comfortable with, it also allows them to hold onto their assets that might have to be spent on long term care, without insurance.

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