Leo

If you have a net worth of 2 million dollars (excluding your home), you can surely pay for long term care out of your pocket without dire consequences. You don't need long term care insurance. But if you're worth much less, you can easily become a financial ruin if you don't make plans for long term care especially if you're above fifty.

Spending $100K on long term care a year will destabilize your plans for your kids unless you're really rich. You might have planned to help your children get a head start in life but take it or not, long term care could easily make it only a dream albeit all your savings and planning towards it. Long term care insurance is, therefore, a way of securing your dreams and investments.

If you wait till you get older it becomes more difficult for you to get an insurer. A report has it that around 11% of people seeking long term care insurance in their fifties were rejected. The number went up to 19% for those in their sixties. But for those in their seventies, their rejection rate was 43%.

You can play smart or play safe. It's entirely up to you. Do note that your premiums are much higher for long term care insurance the older you are.

You can, however, lower your long term care insurance costs by visiting at least three insurance quotes sites. Make sure you input your details correctly (the same information on all quotes sites). Take your time to compare the quotes returned. That's the sure way to lower your long term care insurance costs.

Here are my favorite sites for long term care insurance quotes...

InsureMe Long Term Care Insurance Quotes

Hometown Insurance Quotes

Chimezirim Odimba writes on long term care insurance.