For the golden years. (Ask Your Advocate).Q What can you tell me about long-term care long-term care (LTC), n the provision of medical, social, and personal care services on a recurring or continuing basis to persons with chronic physical or mental disorders. insurance? I am in my late 30s, but I was told that as I financially plan for my retirement, I should consider insurance for my old age. --Via the Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the A That's pretty much what long-term insurance is: Insurance to protect your finances if your health should deteriorate de·te·ri·o·rate v. 1. To grow worse in function or condition. 2. To weaken or disintegrate. in old age. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the Insurance Information Institute (www.iii .org), one main reason to consider such insurance is to preserve your assets for your family instead of spending the money on extended healthcare. Such care could be required as a result of injury or illness, including diseases such as Alzheimer's and Parkinson's, which would cause cognitive impairment Impairment 1. A reduction in a company's stated capital. 2. The total capital that is less than the par value of the company's capital stock. Notes: 1. This is usually reduced because of poorly estimated losses or gains. 2. . Of course, long-term insurance has to be purchased before you use it. Since it is nearly impossible to predict what your state of health will be in the future, if you are considering purchasing long-term insurance, make sure you fully understand all the conditions--particularly when and under what conditions you would become eligible to receive benefits. The Insurance Information Institute notes that the best policies pay for care in a nursing home, assisted living as·sist·ed living n. A living arrangement in which people with special needs, especially older people with disabilities, reside in a facility that provides help with everyday tasks such as bathing, dressing, and taking medication. facility, or at home. Some requirements are very restrictive. But there are options that can provide you with the maximum in coverage. For more information on long-term insurance, visit the Life and Health Insurance Foundation for Education online at www.life-line.org or the Health Insurance Association of America at www.hiaa.org. For general and inside information on insurance plans and benefits, check out Insurance Secrets Revealed (Trebor & Taylor Publishing Co. Inc.; $13.95) by Rodger Nelson.--S.A. |
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