Long Term Care Annuities

There is a new product in the insurance industry and it is called long term care insurance. This insurance needs no health qualification, policy or premiums. So then you wonder why seniors are not buying long term care. One reason is they think they will never need it and after all it is hard to see yourself in a nursing home. Statistically speaking, half of these seniors will be correct.
But not everyone will end up in a nursing home when actually, many can get long term care and not have to leave their own home. With the cost today of an average nursing home running about $80,000 a year, this figure continues to climb and it would not take long for that cost to widdle down a common estate.
For those who wait to long to get insurance, they will be faced with sticker shock because rates will be based on their age. This new product provides the option of long term care but only if it is actually needed. There is no policy, premiums and little to none underwriting.