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Long Term Care Insurance
A major concern of many seniors and their families is how to cover the cost of long-term care and whether long-term care insurance is a smart investment. The following explains the plans that are available and whether getting coverage is The Right Call for you.
What is long-term care insurance?
Long-term care is not covered by Medicare so some individuals purchase long-term care insurance to help pay for the cost of care, should they need it. The first step is determining if this insurance is appropriate for your situation. If it is, shop around. No two policies are the same and several factors affect your cost and coverage – health status, risk factors, finances, preferences, age and family status.
Is Long-Term Care Insurance Right for You?
You should CONSIDER buying Long-Term Care Insurance if:
If, after careful consideration, you decide that long-term care insurance is right for you, check out a company and agent before buying your policy. Insurance companies and agents must be licensed in the state to sell long therm care insurance. If you're not sure, contact the Oklahoma Insurance Department at 1-800-522-0071.