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Strategies that elder law attorneys and certified estate planners were able to recommend in the past are now against the law. Admittedly the cost of long-term care insurance does rule out insuring against the cost of long-term care for some lower income families but if long-term care insurance is taken out early enough the cost is well within the reach of the majority of the American population. Independence: No parent wants to ever be a burden on their kids, especially if their kids are raising their own children. So if a Couple only has $13,740 the Spouse gets to keep it all and Medicaid will pay the long Term Care Costs. According to a 1999 report from the National Council On Aging, 80% of all long term care is provided by family members, two-thirds of whom may still be working either full or part-time. Long-term care insurance costs vary dramatically with one of the most significant factors being at what age you take out your long-term care policy. Home care can cost $12000 or more per year (HIAA, Guide to Long Term Care insurance, 1999). Their are low cost Alternatives available for seniors who just can't afford the rising cost of these Premiums. Choosing the right insurance company for your LTCi policy is a very important step, and there are several top quality companies that have proven track records in the field of long term care. So a good question to ask is: What evidence is there that LTCi is a wise and sound investment?. Of course, if a person is single and has no other family or friends to help provide care in the event that a long term illness should arise, then no doubt they will benefit most from the policy. Other notable influences on the cost of long-term care insurance are your state of health at the time you apply, the period of time the policy is too cover and the level of long-term care benefits that you choose to select. Will is also a contributing editor for a FREE Informational Website Portal that is dedicated to giving people expert knowledge of real value, to help people them decide!. Other leading sources for claims included neurological disease, dementia and multiple sclerosis. That is why it's best to find the company that is best for your particular situation and not to view LTCi as just a cookie-cutter commodity. You can get more free information, news and articles regarding long term care and aging at The Long Term Care Consumer Guide website and The Long Term Care Review Blog. To Learn More Call Mike at 314 398-5547 or Visit Mike's Web Page Rather than spending $40000 to $80000 a year on average for long term nursing home care, you can spend a fraction of that cost for a long-term care insurance policy. After a while, all of those insurance bills begin to add up. Mike Makler is a Licensed Life Insurance Agent Based out of St Louis Missouri. Online service is a great way to research long term care policies and company offerings. Of course, having an insurance agent that is thoroughly knowledgeable in the field of long term care insurance is a real asset too. One of the major changes on February 2, 2006 was the enactment of the DRA (Deficit Reduction Act) of 2005. Long Term Care by the Numbers In the year 2010 about 12 million older Americans may need long term care. So if a Couple only has $13,740 the Spouse gets to keep it all and Medicaid will pay the long Term Care Costs. Isn't it because a good home owners policy can help protect against major damage to your home from fire, flood, and other disasters? Since a person's home is often their most valuable physical asset, it only makes sense to protect yourself against financial ruin that could arise if you had to pay to completely replace your home after a major catastrophe. One of the most common objections to investing in LTCi is that some folks feel that they will probably never use the policy since they are in pretty good health now, and they don't want to waste money on something that will never actually be put to use. In addition, the older you are the higher the risk of developing health problems that could increase the cost of your insurance premiums or prevent you from obtaining long-term care insurance altogether. One of the major changes on February 2, 2006 was the enactment of the DRA (Deficit Reduction Act) of 2005.