Long term care insurance policies are now getting the attention of its target market and has continuously increase the number of its policy owners. Thanks to the massive effort of the government and some private insurance companies who tirelessly make sure that the American citizens are well-aware of the benefits and advantages of owning an LTC plan.

There is no denying that although many United States residents are interested in acquiring an LTC policy, the high prices of its rates and monthly premiums prevent them from doing so. They are hesitant and doubtful because of the still unsolved economic and financial dilemma that the United States is facing right now. They are afraid to take a risk with investing an LTC policy not knowing that this might be the biggest investment they can benefit from.

LTC plans help the policy owners by paying out the LTC services that they are going to use and receive in the coming years. These services may include, but not limited to, adult day care, nursing home, rehabilitation and therapy, use of medical equipments, and round the clock assistance and care from licensed medical practitioners and trained caregivers. Although living in an adult day care and nursing home is covered by the policy, the insured individual still has the option to be treated and receive his LTC plan benefits at the comfort of his own home.

Long term care costs vary by state and are affected by some other factors including the age and present health condition of the interested applicant. Usually, the costs and rates of the policy and monthly premiums depend on the age of the applicant at the time of his policy application, his family’s medical history, his current health status, the state where he plans to stay and receive his LTC plan benefits, and his being a smoker or non-smoker. It is advisable to purchase a policy at a much younger age because some studies revealed that for every year that an individual delay his LTC plan acquisition, the rates of his possible monthly premiums increase by at least 10% to 12%. The healthier and younger the applicant is, the better and cheaper rates he would get.

Inflation protection, the most important feature of any kind of LTC plan may also affect long term care costs in the long run. It adjusts and keeps the value of a certain policy up to date based on the present costs of LTC services even if the owner’s policy was acquired at a much cheaper rate. With this, the policy owner might get and use more LTC services than what he has actually paid for.

There are several kinds of long term care policies available to the public. If you are interested in getting one, be sure that you are aware of the differences of each and how you can maximize its benefits. To have an idea on how much a policy on long term care costs in your area, you could check out the websites of some private insurance companies that provide free online assessment tools which generate LTC policies based on some information that the individual would provide.