Should you consider purchasing long term care insurance?

Its no mystery that Americans are living longer. As people become more aware of and apply sound, healthy principles to their lives, they live longer, healthier, more vibrant lives.

But its that confidence that theyll live a long, vibrant life that leaves many Americans lacking in one crucial area: planning for the possible setback. The unfortunate fact of aging is that as we get older, most of us need some help with everyday tasks. While friends and family can often pitch in, what if you develop the need for professional long term care? Are you and your family members ready financially for such a blow?

If not and the unfortunate answer is no for most people there is a powerful and increasingly popular solution called long term care insurance. By purchasing a long term care insurance policy, you cover yourself and your family in case the difficult what if scenario becomes real.

Long term care insurance is simply an insurance policy designed to cover the long term care costs of assisted living facility or full nursing home. Many policies also cover the costs of an aid for in-home care for those with lesser assistance needs. Though generally designed for the person over the age of 65, many people are purchasing the policies at younger ages to keep the premiums lower, and , if needed, can utilize its benefits anytime even before the age of 65.

A person might need long term care (and therefore use their long term care insurance policy) when they need help with a variety of tasks, which might include: using the bathroom, managing pain, eating, attending to personal care, walking and bathing. Experts say that more than 60% of all people will need help with simple tasks like these at least once in their lives. The need might arise from a variety of factors including temporary long term care sought after an injury, during recovery from a surgery or illness, or during a terminal medical condition. Though seniors will comprise the bulk of people needing long term care, many younger people will require temporary long term care in their lives as well. Long term care insurance policies can help with all of these things.

Ongoing long term care (which might be required for months or years) encompasses among other things -- chronic medical conditions, senile dementia, and permanent disabilities. A long term care insurance policy can help pay for services relating to these needs as well.

Your long term care insurance can pay a part or full share of daily nursing home costs or help offset or pay the full cost of in-home care. It might give an older person the advantage of living at home with all its comforts while receiving in-home care, rather than living in a nursing home paid for by the government. It can provide the comfort of choice and peace of mind to the patient and his or her family members.