Feb 13, 2015
Long Term Care Benefits
Many people overlook long term care insurance when investing in insurance policies. With all the other insurance policies that you invest in, it can be easy to assume that you do not need a long-term care insurance policy. However, the older you get, the more important a long-term care policy becomes. There are many benefits of investing in a long-term care insurance policy including:
- Avoiding emptying your savings – the older you get, the more likely you are to need some type of help. Whether it is an in home nurse or a nursing facility, the costs of care can easily add up. If you do not have a long-term care insurance policy, the costs can easily lead to an empty savings account.
- Avoid depending on your children – while most children are more than willing to help out their parents as they age, it can also become a burden. A long-term care insurance policy will cover the cost of any help that you need throughout the day to ensure that you do not affect your children’s jobs or social life.
- Tax benefits – you may be able to deduct the premiums that you pay for your long-term care insurance from your income, which could move you into a lower tax bracket.
- Employee benefits – if you own a business, offering a long-term care insurance plan to your employees can be a great part of a benefits package. As an added bonus, the premiums that you pay for the policy are typically 100% deductible.
For all of your long-term care insurance needs and to ensure that you have the right amount of coverage later in life, contact
the insurance experts at Gateway Professional Insurance Services in Vacaville, California.