No one wants to leave his or her family in a vulnerable financial situation should they suddenly find themselves unable to work. So it is somewhat puzzling that over 100 million American workers today have no form of long term care insurance. While most major companies offer health care plans to their employees, usually including some form of worker compensation, those benefits rarely apply for an extended period of time if an illness or injury is sustained outside of the work environment. Even primary health care insurance can only extend so far towards minimizing expensive home care costs that may be incurred by a serious disability. How can you be expected to provide for your family if you are paying skyrocketing out-of-pocket expenses while unable to earn a living?
At least 1 in 4 people entering the workforce today will be unable to perform their job because of a disability before they reach the age of 65. Most people do not even think about such a tragic turn of events, and it can ultimately cost them dearly. A policy does not have to cut dramatically into your cost of living. Having a higher deductible is a good way to save on your premiums, and realistically speaking there is no reason any long term care benefits you need may should have to begin below a $1000 threshold. You may be able to purchase a policy through your current health insurance company or through a group plan offered through your employer. Buying individually may prove cost-prohibitive to many middle-class workers, so always be on the look out for group rates.
