Maine Long Term Care Insurance

For residents of Maine, long term care insurance may not be a priority when it comes to planning for the future, but it really should be. Long term care insurance in ME is not something that a savvy individual should neglect. As a fairly new insurance product, many residents of Maine don’t even know what long term care insurance is, much less whether or not they need it.

Maine Long Term Care Insurance: More Than Nursing Home Coverage

When this product was first introduced to the market, it was offered as something to pay for nursing home care exclusively. Now, policies are available to help with care in nursing homes, care in an assisted living facility, and for home care. What this means is that this type of insurance is used increasingly in situations where young and formerly healthy individuals find them selves in need of medical and living assistance.

Maine Long Term Care Insurance: Do You Need Coverage?

Chances are very good that at some point you will need some help with your personal care. Over 65% of seniors will need it during their lifetime. For most people, the length of time they need the assistance will be a relatively short one. Only about 25% of people who need long term care end up needing it for more than 12 months.

This is not a reason for choosing to skip over this type of protection, though. While the idea of being elderly and dependent on others for help with eating, walking, bathing, and the like is not something that any of us looks forward to, the fact is that it may happen. The same kind of people who put off arranging for long term care insurance coverage are the same ones who put off making a will. Frankly, it’s an easy thing to put off.

It’s tempting to pretend that death or illness will never effect you or your loved ones. It’s a misguided approach. We all know that at some point we won't be here anymore, and as Baby Boomers are enjoying a longer life expectancy than any previous generation has, the likelihood that we may need long term care is something that we need to consider.

Maine Long Term Care Insurance: Women Need Coverage Too

When you get to middle age, buying a Maine long term insurance policy makes a lot of sense, especially for women. Women tend to live longer and because of this fact, they are more likely to need long term care.

If your spouse has passed, will there be anyone else who can assist you on a daily basis? Is this a burden you’re comfortable asking your children to take?

Middle-aged men should look at long term care insurance as well. The cost of coverage will increase as a person ages, so buying sooner rather than later is advised.

Maine Long Term Care Insurance: How Will You Pay For Care?

If you need to spend time in a long term care facility, would you be able to pay for the coverage yourself if you were looking at 6 figures for a one-year stay? Even having someone come to your home to provide assistance is pricey at $25 per hour. How long would you be able to foot the bill on your own?

• Medicare will not cover the cost of long term care. It only pays for medical care on a short-term basis in your home or in a nursing home. To qualify for coverage under the Plan, you must have been hospitalized first and jump through a few other hoops as well.

• Medicaid does cover the cost of long term care, but you will have to have spent just about all the money you have and sold the majority of your assets before you do so.

It makes sense to put a plan for long term care insurance in place so that you have coverage that will help to pay for the cost of care. You will be able to keep your assets intact and get the help you need at that point in your life.

Compare Maine Long Term Care Insurance Quotes Now!

Contact a Maine long term care insurance agent or a company that offers long term care coverage to find out what is available to you and how much it will cost. Then you can make an educated decision about this most important matter.

Start looking for Maine long term care insurance coverage today by clicking on the free insurance quote tool at the top of this page.

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