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Long term care insurance is specially designed to provide a wide range of services should you become unable to take care of yourself because of disability or prolonged illness. If you get LTC insurance, your insurance company will pay for most services you will need such as assisted daily living, respite care, home health care, care in nursing homes, or adult day care.

Many people think that long term care is only needed by older people. This is a risky position. The need for long term care can strike anyone at anytime due to an accident or a debilitating illness. Long term care insurance mitigates this risk. Bear in mind, whether you choose to purchase a long term care insurance policy to cover some or all of the cost, pay for the care out of your pocket with your assets, or rely on a family member to provide your long-term care you are responsible for your long term care costs.

The Alabama Long-Term Care Insurance Partnership Program offers a plan that allows Medicaid to disregard some or all of your assets for Medicaid eligibility and estate recovery purposes. These Partnership Plans are designed to encourage people to purchase LTC insurance by providing you with asset protection in the event you use your policy benefits and need to seek continued benefits through Medicaid. This means that an amount of the policyholder's assets equal to the dollar amount of long-term care insurance benefits paid under a qualified Partnership Policy will be disregarded for the purpose of determining eligibility and estate recovery for Medicaid. All other Medicaid eligibility requirements will apply. Check with the state or your agent to see if you are eligible.

When is the best time to buy long term care insurance? Well, that is a personal choice. Start too early and you may pay for a policy that you don't need for many years. Wait too long and you could become ineligible or develop a pre-existing condition that could elevate your rates. If you are nearing your golden years, you should consider your long term care insurance needs now. LowAlabamaRates.com will connect you with experts that can discuss your options and the best pricing for their policies.