In-home Caregiver near Los Angeles: LTCI Issues

December 5, 2013
In-home Caregiver Los Angeles LTCI

Awareness of LTCI Raised by the In-home Caregiver near Los Angeles

Do you know what the acronym LTCI stands for? If not, you are not alone. It is a valuable piece of information, though, since it stands for “long term care insurance.” As the Baby Boomer generation approaches retirement, financial experts note how few families have taken advantage of this important tool in order to secure their senior loved ones’ later years. Here are some important facts to note about LTCI, from the in-home caregiver near Los Angeles.

What Is It?

LTCI is designed to cover the common but very expensive costs of elderly living. These include room and board costs for long-term care facilities; specialized equipment not covered by medical insurance; and fees for in-home eldercare in Los Angeles. Although LTCI looks expensive to many prospective customers, it saves significant amounts of money in the long run when compared to paying for services and equipment out of pocket.

Recent Changes

Recently, LTCI rates have increased rather dramatically. This change makes it harder for families to make the decision to invest in insurance, but even with the higher rates, financial advisors stress the importance of looking ahead to the cost of years in a nursing home or constant professional care at home. In addition, many seniors are eligible for financial assistance, such as tax-free payments on insurance premiums. With some help from an expert in the area, you can find the perfect policy for your loved one at a rate that you can afford.

Eldercare in Los Angeles is Covered

The great majority of LTCI policies include at-home services. As always, be sure to read your entire policy thoroughly to ensure that it covers everything you need it to. Once you have made the decision to look ahead and insure your loved one’s future, you will rest easier about the prospect of paying for the care they need when the time comes.

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