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  • Get Long Term Care Insurance Arizona Quotes Earlier in Life

    Wednesday, March 30, 2011

    Why is it so important to get long term care insurance Arizona quotes? There are a number of factors that come into play when you get a long term care insurance quote. You may be surprised to find that it is a smart idea to start looking for quotes in your 40s and 50s instead of waiting until your 60s. This article will explain why it is in your best interest to start checking out these policies at an earlier age.

    In all reality, you can suffer from an injury or an illness requiring that you need long term care at any age. Although the majority of people that receive long term care are elderly, an accident or disabling illness can strike at any time. In Arizona, the average cost of a private room inside of a nursing home is over $60,000 dollars per year. The average stay in a nursing home is over two years. This can be quite an expense no matter how much savings you have accrued.

    Most people do not want to leave this financial burden to their children and they do not want it to erode away everything that they have worked so hard to save. This is why more and more people are seeking coverage under a long term care plan, so that they can protect their investments and safeguard their future care should they be unable to care for themselves.

    The smartest strategy in buying long term care is to purchase it earlier on in life. You will find that once you wait to get older, the prices of policies can be extremely expensive. However, if you buy a plan in your 40s or 50s you will find that your premium will be significantly lower. Once you purchase a policy with a lock in rate you won’t have to worry about the premium increasing with your age.

    Studies have found that a person that buys long term care insurance in their 50s will end up paying less for their policy than someone that purchases it in their 70s just because of the fact that premiums are so much lower for people that buy policies in their 50s.

    Get a long term care insurance quote early on so that you won’t have to worry about how to pay for these costs in the future. The younger that you are when you purchase the insurance, the lower the rate which will make it easier for you to make the monthly payments.