It should come as no surprise that long-term care such as nursery homes can be expensive. They generally take care of everything for you. You don’t have to worry about cooking, laundry, or other chores. Plus, there is normally an in-house medical professional. Many nursery homes also offer activities such as bingo nights or art classes.
This is the ideal situation for many people who can no longer take care of themselves. Most people assume this is where the final stages of their life will be spent. However, not many people plan for this appropriately. One common option is long-term care insurance. It is different than a traditional health insurance plan in that it focuses on long-term care specifically. In this video, you will learn if this insurance is right for you.
In the video, a caller inquires about long-term care insurance. Is it really a good buy or should people pay for the stay themselves. In most cases, people can not afford to pay for this care on their own. The average three year stay costs $300,000 dollars. Plus, some people forget that their partner also will likely cost another $300,000. If you can not afford such a large expense, you need long-term care insurance. It is that simple.