Chelsey Tucker graduated with a Bachelor of History degree from Metropolitan State University in 2019. She now writes about insurance with her specialty being life insurance and has been quoted on Help Smart Phone and MEL Magazine.

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Dan Walker graduated with a BS in Administrative Management in 2005 and has been working in his family’s insurance agency, FCI Agency, for 15 years. He is licensed as an agent to write property and casualty insurance, including home, auto, umbrella, and dwelling fire insurance. He’s also been featured on sites like

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Reviewed by Daniel Walker
Licensed Auto Insurance Agent

UPDATED: Mar 19, 2020

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If you are interested in purchasing long-term care insurance, but you have already been diagnosed with an illness like Alzheimer’s that requires long-term care, unfortunately you are going to find that it will be impossible for you to purchase long-term care insurance.

If you have not been diagnosed, but have a family history, you can obtain coverage.

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You see, insurance companies simply do not sell long-term care insurance to people who have been diagnosed with an illness, especially if that illness will require them to pay out on the insurance policy.

If you have a family history of this disease, but have not been diagnosed then you definitely want to seek a long term care insurance policy.

Options for Those Diagnosed with Alzheimer’s

If you have already been diagnosed with this degenerative brain disease and you don’t have long-term care insurance, you need to start discussing your care options with your family right now. In many cases, your family can take care of you for many years with little risk. When, however, the disease progresses to a stage where they cannot take care of you, then you need to determine what your options are.

Unfortunately, Medicare and Medicaid aren’t going to provide you with the long-term care that you need. These government health plans are only meant to provide coverage for acute care rather than long-term care. This doesn’t mean that there is no hope, however.

Some states have facilities that conduct Alzheimer’s studies and provide care to Alzheimer’s patients in return for the right to try experimental procedures and drug study trials on the patients. Don’t worry, the FDA approves any experiments and drug studies, they aren’t going to try anything illegal or dangerous.

If you don’t live in a state that has such facilities, contact a facility in another state and see if there is a waiting list. If there is, get your name on it so that when the time comes, you have an option other than creating serious debt that will be passed on to your family for your care.

If you haven’t been diagnosed with any illness or disease, but you recently admitted a family member or friend to a long-term care facility, then you may want to know your own options. Alternatively, you may simply be thinking about your own twilight years and who would care for you. Regardless, there are some things you will want to know about long-term care before you decide whether or not to make a purchase.

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The Benefits of Long Term Care Insurance

As you can imagine, if you are ever in need of long-term care, then long-term care insurance will be very beneficial. Long-term care insurance is designed to provide you with care when you can’t do normal things for yourself. Long-term care can include having someone cook for you, clean for you, help you bath and so on.

This type of care can benefit the elderly, but not just those considered older persons. If you have an auto accident, for example, that leaves you disabled, then you may require long-term care. This could be true if you are 35 or 95.

The cost of long-term care can be astronomical; however, it does depend on the type of long-term care that you need. If you are in need of someone to help you with your daily routine, for example, then the costs will be less expensive. The reason for this is that it doesn’t require a medically trained person to provide this type of care.

If, however, you need assistance with administering medication, checking blood pressure and so on, then the costs can be quite extensive. This type of care can be as much as $10,000 a month. As you can imagine, having long-term care insurance can ensure that you don’t become financially destitute as a result of your care.

Long-term care insurance can also provide coverage for nursing home care. As staying in a nursing home is far more expensive than having in home care, your insurance may exhaust itself a lot faster then if you need other types of care. In addition, many long-term care insurance policies specifically omit nursing home care in the coverage, so this is something to be aware of if you are looking for more comprehensive long-term care options.

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The Down Side to Long Term Care Insurance

Believe it or not, there is a downside to purchasing long-term care insurance; the biggest one being that you may never use it. This is one of those subjects that cause many people to say, “so what,” when it is brought up. The truth is that long-term care insurance can be quite expensive. The older you get, the more it costs and, if you never use it, you don’t get a dime of your premiums back. This, for some people, is a deterrent for purchasing this type of insurance.

Another downside is something that we touched on a little earlier. Some things simply aren’t covered by long-term care insurance. Nursing homes can be one of them, but often you will find a lot of small print exclusions in a long-term care insurance policy. Insurance companies may limit how long the long-term care is available at a single time. Others require that you continue to pay premiums even after you are receiving long-term care, which can be impossible for some people.

Overall, the downsides are few, but it is important to read through your entire policy before you buy it. You want to ensure that everything that you are concerned about is covered under the policy or you may end up not having the appropriate coverage when it really counts.

Buying Long Term Care Insurance

You will find that most insurance companies offer long-term care insurance. As mentioned above, this is not a guaranteed payout insurance, which means the insurance company wins big if you never require long-term care. Of course, if you don’t need this type of care, it is a win for you too, but you can’t recoup the costs of your premium investments.

Regardless, because so many insurance companies offer long-term care insurance, it is possible to get competitive rates on your insurance policy; you just have to shop around to get it.

Before you start looking for the best prices, however, you need to determine just how much long-term care insurance you need. To do this, do a search for the average annual cost of a long-term care facility in your area. Multiply that amount by the amount of years you want to ensure you have coverage for; the average is 3 years but you can shorten that or extend that as you see fit. Then multiply that number by 10% to account for inflation and you have reached a number.

Now that you know how much coverage you want, it’s time for you to use our free quote tool to compare rates. Simply click on the link at the top of the page and you will be taken to a questionnaire. Answer all of the questions and you will be provided with quotes from several companies that sell insurance in your area.

If you’d like, you can make adjustments to your coverage amount so that you can determine if a higher or lower coverage amount better suits your budget. The process is fast and it’s easy. We won’t share or sell your information to anyone and our site is completely secure. Try it today and get the long-term insurance coverage that you need.

Click on the free rates tool, enter your zip code and get long term care insurance quotes today!