What Is The Better Between Long Term Care Insurance Or Just Life Insurance?
Posted August 14, 2009 – 4:23 am in: term life insuranceI am not very clear between both of this, I heard about these both, Could you please let me which one is better?? Thank you very much.
Tags: Better, Between, Care, Insurance, Just, Life, Long, Term, What
7 Comments
Long-term care insurance covers care generally not covered by health insurance, Medicare, or Medicaid..Individuals who require long-term care are generally not sick in the traditional sense, but instead, are unable to perform the basic activities of daily living..People who need long-term care often prefer care in the home or in a private room in an assisted living facility…But life insurance is the one where the insurer agrees to pay a sum of money upon the occurrence of the insured individual’s or individuals’ death or other event, such as terminal illness or critical illness..Both are better and depends upon the need of the person..
There really isn’t a “better” per say since they cover different things. Life insurance is for when the person the policy is for dies. So you can take out a life insurance policy on a spouse and when they die, or turn 100 in age, then you will get the full amount of the benefit as long as premiums are paid consistently. Long term care insurance is money the insured can use if they are placed in a nursing home and/or need home health care. There is usually a daily limit here and a lifetime maximum. Both are great ideas, just depends on your situation.
Life insurance is a form of insurance that pays a beneficiary in the event of someone’s death. At the time of purchase you buy a specific amount of coverage for a specific length of time. Should you die during the term of the policy, your beneficiary will receive the specific amount that the coverage stipulates in the policy documents.
while Long Term Care (LTC) Insurance provides for handling the financial burden of either nursing home care or at-home care. Policies typically pay a fixed daily benefit which is chosen at the time of inception of the policy. LTC coverage is important if your wish to preserve your estate or if you do not wish to burden your family with the care or expense of nursing care
their for two different things. long term care provides for you if you become bedridden or need constant care for something that’s not going to get better in a short period of time. you have to die to get
life insurance benefits. life ins. is usually procured to cover burial
expenses and to help out the remaining family members if the
person who dies was the bread winner of the family. long term
care does nothing for anyone other than the person who is ill, it
ceases when the person dies.
long term care ins… is for if a person has a illness and must have care..such as Alzheimer’s. which is often years.
Life insurance is for AFTER death and for those who survive such as a wife or child
what’s better, a shirt, or pants?
They’re completely different. Long Term Care pays for your nursing home bills – or part of them. Life insurance, pays someone else, if you die.
long term care insurance is better…