A resonable LTC quote from mutual of omaha
The way that long term care works is that you’ve got to sign over all your assets when you enter with an irreversible condition. When they are used up, you then go on public aid. There’s no guarantee that the nursing facility will keep you once you are a ward of the state. They can then transfer you to another facility that may be much further away. You can’t count on Medicare to pay for your care. They will pay a fragment of what it will cost to look after you. And do you actually want your youngsters or family and friends emptying their bank accounts to pay for your care? If you plan in advance and get a mutual of omaha long term care insurance policy, you can be covered. These policies will pay $150 a day for your care for a four year period. You can use the cash when and if you need it. You can also get an inflation clause in your policy so the $150 that is good for today will cover what it costs 20 years from now. The amount you’ll have to pay for a long-term care insurance policy will depend upon certain conditions such as your age and general state of health. But planning ahead for this sort of care is essential if you need reassurance and do not need to stress about becoming a burden on your loved ones as you get older.
