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Consumers know they need long-term care, don't have it

Posted On Wed, November 16, 2011

A recent report from the LIFE Foundation showed that many Americans are aware of the need for, and cost of long-term healthcare information, buy many aren't using this knowledge to their advantage.

The Long-Term Care Insurance Survey found that more than seven in 10 Americans think that a majority of senior citizens will need long-term care at some point.

"Americans really seem to understand that the chance of needing long-term care services is significant, which is why it's frustrating to see how few are financially prepared," said Deb Newman, chair-elect of the LIFE Foundation. "Long-term care insurance is one of the best ways to guarantee that you'll get the care you need if one day you're no longer able to care for yourself."

The survey noted that the younger a person purchases long-term care health insurance coverage, the better off they will be due to an ability to save over a long period of time.

Older consumers who are concerned that they may need such care may want to ensure they have a health insurance plan that covers as much of the cost as possible. This can be had by comparing health insurance quotes to find the best deal available.

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