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  • Insurance for woman over 50
  • April 7, 2014
  • What kind of insurance do I need if I am a woman older than 50?By

    Middle-aged people do not necessarily want to think about who is going to take care of them when they can no longer take care of themselves.  However, insurance experts advise that age 50 is the best time to start thinking about weighing your options when it comes to long-term care.

    “Most long-term insurance is nursing home prevention,” said Jesse Slome, executive director of the American Association of Long-term Care Insurance. “People don’t want to go to a nursing home, yet people are living longer and they will need long-term care.”

    Slome says people have roughly four options when it comes to being cared for in their old age. Those are: family, savings, insurance and the government.

    For people who do not want to burden their children, cash out their savings or depend on Medicare for nursing home stays, insurance is the only option.

    “Needing care is the greatest single financial risk to their retirement savings and way of life,” Slome said.

    A long-term care policy can cover home health care which helps people spend more of their remaining days at their home instead of a nursing home.

    Industry experts agree that long-term care is most critical for women. Often, they are the primary caregivers to their husbands. It is not unusual for a woman to use the couple’s savings on her husband’s care and when it is her turn, there is nothing left.

    Pages: 1 2

  • Category: Articles Library, Health Insurance, Long-term care insurance

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