ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Generally speaking, most financial planners suggest that you purchase long-term care insurance by the time you’re 65, which is also when most people are eligible for Medicare. That’s not because Medicare covers long-term care, such as a stay at a nursing home-it doesn’t.

Detailed explanation-2: -Traditional LTC policies are available between ages 18 and 79.

Detailed explanation-3: -Long-term care insurance usually covers all or part of assisted living facilities and in-home care for people 65 or older or with a chronic condition that needs constant care.

Detailed explanation-4: -Individuals with Type II Diabetes can be approved by all LTC insurance carriers. Those with Type I Diabetes may receive an approval, but fewer LTC carriers will consider Type I.

Detailed explanation-5: -The amount you pay for your health insurance every month. In addition to your premium, you usually have to pay other costs for your health care, including a deductible, copayments, and coinsurance. If you have a Marketplace health plan, you may be able to lower your costs with a premium tax credit.