By the the year mid two thousand almost ten million men and women had to use health care that was long term. This number will continue to rise so that by the year 2020 the number will more than double. These statistics show thinking about long term care insurance seems very smart.

What is the process of needing care long term? Long term care is when a person cannot not perform two such things as washing themselves or cooking meals. There are many different forms of this care and every individual has their own circumstances. However, long term care can have many components to it.

Usually a person is eligible for care for the long term if they need a home care giver in their home to help them manage day to day life. If one needs to be assisted living because in their own home is not enough. If one needs aid because of cancer and needs hospice service or if they must live in a Alzheimer facility. Of course the money to cover these needs must come from somewhere and since one out of four people end up in a nursing home it seems that everyone must consider their options.

Insurance to cover any type of care that is extended is possible. There are two types of this insurance offered. One which cannot be taxed and one where taxing is part of the policy. The non taxable policy is the most commonly purchased and is determined by the need of the individual. The taxable policy has different aspects, is not as easily found and needs a medical doctor to start the policy in motion.

Each one of them has their purpose. The nontaxable policy is the most used form of this insurance but there are criteria to put the policy into play. You must be a need the aid of someone else for at least two daily activities like dressing, feeding yours, or washing yourself. The time limit is at least three months. A doctor must design the care regime. The bonus to this plan is that it can be written off on your taxes as a line item under medical. Even better any benefits you are given are not taxable.

The other policy is determined taxable. This is policy is started with the consent of a doctor. It is more expensive but it also allows for a daily duty that needs assistance to be walking or being ambulatory. However, since the benefits can be taxed there is the chance of a huge expense to the policy holder.

Once you purchase the insurance to cover your care for the long term the company cannot change the pricing and they cannot cancel unless you do not pay your premiums. The pricing is reflected in your how old you are, how much you need each day or each month, how your receive your payouts, ending the policy, cost of life increases, and the type of health you are in. If you purchase two policies for you and your spouse you can receive a discount.

While everyone expects good health and long life often times this not the case, so be sure to at least have a safeguard in place. To protect yourself with long term care insurance means that you will not have to be concerned with what might happen.

Before you go out and buy a policy go to insurance-e-quote for more info on long term care insurance. We represent 20 of the top LTCi providers. This gives you tremendous options.