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Long Term Care Insurance

If you purchased long-term care insurance, consider yourself lucky.  Long-term care insurance policies apply to assisted living care - all you need to know is how to collect your benefits. Some long-term care policies have a specific designated benefit for nursing home care, based on a mental or physical diagnosis, which can be used to pay for assisted living.

The policy may also set a designated payment for home care, which can then be paid directly to the assisted living facility or to the beneficiary, who can then use it to pay assisted living. If you or your loved one hasn't already purchased long-term care insurance, it's likely too late to do so now. However, it never hurts to try to get things going.

When it comes to shopping for Long-Term Care Insurance it is very important to do your research. Ask trusted financial advisors for recommendations. There can be many catches and scams - and with it being a large investment - it is important to review policies very carefully to make sure they cover your potential future care needs.  Like with any insurance policy, there is always a risk that you will purchase the policy and never use it.

Disclaimer:  The Parkinson Association of Alabama provides education and awareness so that you may discern your own planning. Our information is never intended to be guidance or replace that of a financial advisor or expert. We simply want to provide enough information as a conversation starter as you work with your respected financial advisors for mapping out your financial budgeting plans for community living. The PAA cannot be held liable for any financial decisions you make regarding your own planning.


The Davis Phinney Foundation. Chapter 15 - Long-term Care and Financial Planning. Every Victory Counts. Page 249.

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