Did You Know November Is Long Term Care Awareness Month?

November is Long Term Care Awareness Month. Long term care is a variety of services which help meet both the medical and non-medical needs of people with a chronic illness or disability who cannot care for themselves for long periods of time. The amount and kinds of assistance needed and the length of time that care is provided can accumulate and take a toll on most people’s financial status.

Are you prepared to pay for you or a loved one's long-term care when needed? Long Term Care Awareness Month is a perfect time to find out. Just as it is smart to plan ahead for retirement, it’s smart to plan now for your long term care needs. LTC insurance is a solution for many, but is not right for everyone. However, advance planning is the best solution. Here are some things you should know:

• Buying LTC insurance before age 65 will avoid the high cost of waiting. Your age and your health are important factors that determine the cost of long term care insurance protection. Costs are based on your age at application and go up each year. By waiting to purchase until you are closer to retirement you might find it's just too expensive to buy this important protection.
• At younger ages you can lock in good health special savings. Your good health today can help you 'lock in' preferred health insurance discounts that won't change even if your health does. If you currently have a health condition it's especially important to find out if you can health-qualify before it may get worse.
• Discounts can help significantly reduce the cost. You may be surprised by how affordable long term care insurance protection can be for some of the newer plans. Today, there are ways to reduce the cost of long term care insurance and you can receive savings when you plan ahead.

The first step is in your hands. Make Long Term Care Awareness Month the time you start planning. Getting the information you need to make an informed decision is always a smart move. Through the University of South Florida Alumni Association, you can receive a LTC Planning Kit. Click here to learn more.