We provide this free financial resource concerning long term care insurance to visitors of the Community Room of SeniorSSuperStoreS in an effort to keep baby boomers, seniors and the elderly informed of matters that can affect their financial lifestyle.

What is Long Term Care Insurance?
Long Term Care Insurance covers the cost of at home nursing care, assisted living facilities, nursing homes, and adult day care. With this insurance, the insured pays an affordable premium to cover the costs of extended care services.

Is Long Term Care Insurance Appropriate for You?
According to the Wall Street Journal (3/31/99), "A year in a nursing home now averages more than $40,000 and can exceed $100,000 annually in some parts of the country." With that stated, if you are very well off, you may not need insurance to pay the costs. However, if you are like most, the cost could be devastating to a life time of savings.

A common myth is that Medicaid will cover the costs of long term care insurance. This is true, but what is not stated is the fact that Medicaid will only begin paying the costs once you are impoverished. And, there are numerous government rules prohibiting the transfer of personal assets to family members in order to impoverish yourself so as to qualify for Medicaid to pay for your long term care.

You also cannot count on Medicare to help out with your long term care needs. Medicare will pay for only a short period of care in a facility, and that only related to rehabilitative care following a hospitalization.

If you are in a position where it is affordable to pay a premium for this insurance, long term care insurance is appropriate for you. If the premium would greatly alter your lifestyle, then you may want to seek an alternative.

What Should You Look for in a Long Term Care Insurance Provider?
Chances are you will not require the benefits of long term care insurance for many years into the future. The company you choose should be financially stable. A new company or one with questionable stability should be avoided.

This article has been brought to you by LTCinsurance.com, your resource for unbiased information on Long Term Care Insurance. LTCinsurance.com is not an insurance company, nor do they provide Long Term Care Insurance. If you would like to read more about Long Term Care Insurance please visit www.ltcinsurance.com.