Of course, having an insurance agent that is thoroughly knowledgeable in the field of long term care insurance is a real asset too. The average claim for this age group lasted a year or longer. 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. Now that you have the Facts the Question is how do you protect yourself at a reasonable cost. It is a daunting decision, given the fact that we spend so much of our lives working and sending payments for so many other kinds of necessary insurance. Many older People are under the belief that Medicare and Medicaid will cover the cost of Long Term Care. Obviously, if more people purchase long term care insurance, fewer people will tap into the Medicaid and welfare programs that are jointly funded by the federal and state governments. A Single person has to spend down their assets to under $1,000 before Medicaid will pay. Another difference pertains to the usage of life estate survivorship deeds. There are basically three ways to fund your long-term care needs: self-insure, qualify for Medicaid, or obtain long-term care insurance. 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. It is a daunting decision, given the fact that we spend so much of our lives working and sending payments for so many other kinds of necessary insurance. So if a Couple only has $13,740 the Spouse gets to keep it all and Medicaid will pay the long Term Care Costs. Inflation protection is also needed in your policy with the explosive rise in health care costs. With good home health care benefits available in most long term care policies, this choice can become a reality. Other leading sources for claims included neurological disease, dementia and multiple sclerosis. That means that seven out of 10 Americans will use their policies - This is a far greater risk than an auto accident or a house fire. According to the US Government 40% of the People Currently receiving Long Term Care Services are between 18 and 64. In Addition to the long term care benefit these annuities offer Tax Growth, Up to 10% Bonuses for the first 5 years and many other Benefits. Inflation protection is also needed in your policy with the explosive rise in health care costs. Other leading sources for claims included neurological disease, dementia and multiple sclerosis. Purchasing long term care insurance is a serious consideration with the ever rising cost of home health care and nursing home care. Also on gifting, whether money or property - the penalty calculation would be figured from the date of application for Medicaid instead of from the date of the gift. The best way to get cheap long term care insurance is to buy it when you are young and before you have any major physical problems. Other leading sources for claims included neurological disease, dementia and multiple sclerosis. Many people decide against long-term care insurance under the misguided assumption that they cant afford it without actually finding out how much long-term care insurance costs. There are basically three ways to fund your long-term care needs: self-insure, qualify for Medicaid, or obtain long-term care insurance. Long term care insurance is an important financial planning tool, and it's important to apply while you're still healthy. According to the US Government 40% of the People Currently receiving Long Term Care Services are between 18 and 64. Their are low cost Alternatives available for seniors who just can't afford the rising cost of these Premiums. With good home health care benefits available in most long term care policies, this choice can become a reality.