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Getting Long Term Care Insurance For Your Loved Ones

By Compuquotes Team on October 31st, 2008
Long Term Care

Many times, a person or couple will buy long term care insurance as they start to get to an older age, so that they will be able to use it if they ever need to go into a long term care facility. However, sometimes this is something that doesn't get done in time ,and sometimes a person who is younger needs to go into a long term care insurance facility - because of an illness or an injury - and does not have long term care insurance. In both of these situations, it might be up to the loved ones to purchase long term care insurance for them.

If you are needing to have long term care insurance for a child that is younger than 18, you will be able to purchase it as your own, and use the child as the person who benefits from it. As your child grows, if they still need to have the long term care, you can have them declared to be a permanent ward, which means that you can continue to use the long term care insurance that you have purchased for them. In this way, you will be able to purchase long term care insurance for your loved one.

In the cases of adults that are relatives, it can get a little more confusing. Buying a long term care insurance policy for your parents, for instance, means that you will have to sit down with them, discuss the policy, and then purchase it together. Therefore, if you sense that your parents might be needing long term care in a few years, you should sit down with them now and make sure that they have long term care insurance that they can use. However, if you haven't done this ,and you get to the point where they need to have long term care insurance right away, you can also have them declared your wards, so that you can do this. This might seem to be a little bit strange, but it can all be part of taking care of your parents as you get older.

You want to be sure that you are sitting down with the representative for the company that sells the long term care insurance and telling them what you are going to be needing. Since the insurance isn't for you, you will have to take out a policy for them, under their name. You will also need to make sure that they know this is the money that they can access. Often, it will be a situation in which they will not even be aware that there is long term care insurance being purchased for them. In these cases it is up to you to make sure that they have the long term care insurance they can get, and that they are going to be able to use it without any major hassles or problems. In fact, most of the time, they won't even know they are using it, but it will be up to you to make sure that the policy is being used correctly. If this is the case, you need to be vigilant and make sure that they are being taken care of.

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