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Paying for a long-term care isn’t always an easy option for many seniors, especially with rising costs across the nation. However, this doesn’t mean there aren’t plenty of different methods of paying for your future care – particularly if you already have life insurance.
Considering that old age brings a higher probability of encountering health issues, long-term insurance policies are cheaper the earlier they are purchased. People don’t often plan for their future care needs when they are healthy, yet waiting to buy a policy can leave fewer options and be more financially draining.
Is either of your parents a veteran? If so, one or both of them may be eligible for veterans benefits. With these benefits, not only is the veteran covered, but also their spouse and dependents in some cases.
Are your parents eligible to receive Medicare or Medicaid benefits? These government programs help people pay for various medical care, treatment, equipment, and supplies.
