Since the necessity for an LTC insurance plan has been widely campaigned and promoted in the country, numerous debates about who should buy long term care insurance arouse in almost all parts of the country.
Several people who are claiming to be insurance experts or authorities when it comes to insurance polices such as LTC plans, openly discuss, usually through Internet, the pros and cons of owning one. Their opinions, whether presented by facts or personal opinions, are undeniably one of the factors that most Americans consider before considering or before actually buying such policies.
There are some individuals who think that LTC insurance plans are just waste of time and money especially now that the country has not yet fully recovered from the economic turmoil that it experienced several years ago. They claim that purchasing these kinds of policies are not to be rushed and that there are other important things that need to be prioritized by the people.
They keep on saying and enumerating negative possibilities that might happen when a person acquires his LTC policy during these financially challenging times without actually realizing or considering the other facts which prove that early acquisition of such policies may even give the individual more benefits and advantages.
In fact, a certain study showed that those who should buy long term care insurance plans must start acquiring their insurance plan as early as today in order to get a chance of being granted more affordable and cheaper policy rates and monthly premiums, especially because insurance providers usually favor or prefer younger and healthier insurance applicants.
Also, the study implies that for every year that an LTC insurance policy purchase is postponed or delayed, the person might be more burdened financially because of the ten to twelve percent increase on the rates and prices of monthly premiums annually. This means that a person who cannot afford the expensive monthly premiums of some LTC plans now would most likely cannot afford the newer and more expensive rates in the coming years.
But the expensive rates should not be a problem now for those 32 million residents who are still uninsured and do not have their own LTC plan because the government has created and implemented latest insurance policy options wherein it offers cheaper and more flexible monthly rates that would fit the budget and financial capabilities of the majority of the United States citizens.
These latest programs are designed to further encourage, and eventually convince the public to acquire an LTC insurance policy that would cover and pay their LTC needs and services in the years to come. This is also one way of lessening the amount that the Medicaid spends every year, just for the LTC-related expenses alone.
With these newer, cheaper, and more lenient LTC insurance plan alternatives, there should not be any debates on who should buy long term care insurance anymore because in one way or another, all of us would surely need and require to receive LTC services at least once in our lives. And this is not just an opinion. It is a fact supported by certain studies and surveys conducted to further prove and establish the importance of LTC plans in each and everyone's life.
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