Long-term care insurance may be more of a necessity than some people think. The statistics say that almost 75 percent of senior citizens in this country, including in Texas, will need some form of long-term care prior to death. The cost of the insurance and the care itself are continuing upwards. However, there are a variety of products on the market that may make the choices easier for those wanting to devise a long-term care plan via partial or complete insurance funding.
Certainly one's assets, income, needs and projected life span are things to look at first in deciding how to handle the problem of long-term care, both at home and in an institution. The policies to cover later life care are becoming more attractive and offering options for people who do not want an expensive policy that may never pan out. For example, now there are life policies that will pay a part of the death benefit upon the covered person's need for in-home or institutional care. If the person never needs that care, the policy will pay the designated death benefit to the person's heirs.