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There are many misconceptions about the long-term care and the insurance that will cover for them. These misunderstandings come with serious consequences and because of this we will be through some misunderstanding, often promoted as truths ...

1. Health insurance and Medicare will take care of your long-term care needs? Yes, depending on your situation and your political point of view, you receive coverage for some time - typically for the first few weeks and no more.

2. But I'm young. Can not wait until I am at least 50? Yes, if you do not have the history of hygiene rules that trigger the need for long term care in your family. No, the statistics show that about 40% of respondents to the long-term care are 18 to 64 years.

Most people need long term result of age-related issues. However, things like a car crash, a bad fall, sports injury, surgery and could also be a person of such care, even if they are still young.

3. What happens if I insure themselves (that is, pay out of my pocket), if I ever need long term care? Yes, this should be your position if you are a millionaire. In this case, you can simply be treated like any other bills. But before you choose this route be aware of the fact that the average annual cost for long-term care is about $ 70,000. If you and your spouse require long-term care it will cost $ 140K.

And with inflation, the rising cost of care and the growing number of those who need this type of care, the costs could also double by the time you need this policy.

4. But Medicaid does not care about those who can not pay for long-term care? Yes, it will be paid, but then you have to be bad enough. This could mean that you lose some of the investment before you are eligible.

But not to let someone bothers you with this policy, if you do not have an opportunity cost of reporting, no assets to protect, or have no family to leave your assets.

5. Long-term care insurance is too expensive. No, it is not is. It costs between $ 1,000 and $ 6,000 per year (depending on your profile and what you choose) to this policy. It costs $ 36,000 to $ 84,000 annually if you choose to pay from its own pocket.

If you have these two, you see, it's too expensive. You can also receive very low prices by getting and comparing the offers from a variety of insurers. This simple exercise will be a few hundred dollars, if they are right.

Here is my favorite page for long term care insurance quotes ...

Long Term Care Insurance Quotes

Chimezirim Odimba writes about the insurance.