Long term care is provided to people who need help with activities of daily living (ADL's) such as bathing, continence, dressing, transferring, toileting or eating or LTC Insurance is provided to people who need substantial supervision due to a cognitive impairment.
Many people believe that the need for Long Term Care Insurance could not happen to them however it is estimated that more than 13 million people in the US need Long Term Care(1.) and of that close to 40% of people needing Long Term Care are working aged adults(2.). With these statistics you can see why it is important to buy Long Term Care Insurance at a young age prior to retirement. According to the AARP it is best to purchase a Long Term Care Insurance policy when you are middle aged, this is when you are more than likely to be eligible for Long Term Insurance and when the premiums are going to be lower.
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