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By Kelly Montgomery, About.com

Updated: April 18, 2007

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Do I need to buy long term care insurance?

Only you can answer that question. But keep in mind the following as you are making your decision:

  • Studies have shown that over 60% of all individuals will need long term care at some point in their life.
  • Over 40% of all people needing long term care are under the age of 65.
  • Medicaid only covers long term care delivered in nursing homes for very poor individuals with limited savings and assets.
  • Medicare covers an extremely limited amount of long term care services delivered in residential facilities such as nursing homes.
  • Most long term care policies cover services delivered in the patient's home, as well as in community and residential facilities.
  • Long term care insurance can be expensive, since long term care itself is not cheap.

For More Information

For more information on long term care, see:

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