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disability and nursing home insurance?
Question : disability and nursing home insurance?
I am 41 and in good health. Should I purchase nursing home and/or disability insurance? My employer does not provide either of these insurance products; and I am starting to gather information about them. Please provide me as much information as possible. I would appreciate it. Thank you.
nursing home insurance
Best answer:
Answer by daisy
AT THE LEAST get disability insurance. You are statistically far more likely to have at least a temporary disability during your working life so that is VERY important. I worked with a small group of 20 employees for five years. Three out the 20 were placed on temporary or permanent disability during the time I was there. (Work related injuries, chronic disabling health conditions, and a car accident as I recall.) As to nursing home insurance, I can’t tell you anything from experience. Glad you’re looking into it.
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#2 written by Zarnev 1 year ago
Nursing home insurance is called Long Term Care and provides far more coverage than just nursing homes. Most people would like to stay in their own homes for as long as possible and Long Term Care provides for in home care as well as nursing homes. 1 out of every 2 people need Long Term Care at some point in their lives, which is far more than the 1 in 1200 whose house burns down. At your age the premium is very reasonable.
As mentioned above, disability pays when you are unable to work. The premium depends upon your present income and your occupation.
Since we don’t know the future both type of insurance are needed.
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I am just answering from a personal perspective, my mom is 78 and is in a nursing home as she has Alzheimer’s and is mentally deteriorating rather rapidly. I have been working 2 jobs and selling purses at parties just to come up with the additional $ 2600 a month needed to pay for her care. Her monthly care is $ 4000 and that does not include medical, personal items, etc. that I am paying for. I never expected this to happen to my mom and wished she had had some sort of long term care insurance. You are still young enough, I would think the premiums would not be that high.