It is certainly possible to find a cheap AIG long term care insurance policy. First, let's learn a little bit more about AIG/American General and see if they may be a smart choice for your long term care insurance needs.
Who Is AIG Long Term Care Insurance Company?
AIG stands for American International Group, Inc. They are a world leader in insurance and also in financial services. They have offices and operations in over 130 countries world wide to serve their customers from all over the globe. American International Group, Inc. or AIG services institutions, companies and individual customers from around the globe with insurance policies ranging from auto insurance to life insurance and financial planning. They also offer retirement services and long term care insurance around the globe. If long term care insurance is new to you, you're probably seeking both information and a secure provider for your needs. Here are some answers to your questions.
What Is Long Term Care Insurance?
Your basic health insurance is designed to cover well and sick doctor visits as well as some emergency and surgical procedures. But what happens after your insurance has met its obligation financially if you still need care? It's not uncommon for injuries and illnesses to result in a lessened ability for patients to take care of their daily living needs. While this need is most commonly associated with the elderly, younger accident victim or suffers with both acute and chronic diseases often find them selves in this position too.
While Medicare will kick in full payment for up to 20 days and partial help for up to 80 in come cases, you need to ask yourself if your current financial situation can cover the rest. So what might that be?
How Much Can I Expect To Pay For Long Term Care Without Additional Insurance?
The cost of long term care can be budget breaking. In today's market a person without long term care insurance can expect to pay over $1,000 per week and upwards of $54,000 a year. In years to come these cost will continue to rise. Paying these costs out of your own pocket can lead to financial ruin rather quickly. With long term care insurance you can save yourself from these outrageous medical costs. Also, consider the potential headaches it will save your loved ones if you already have this plan in order.
I Am On A Tight Budget; Does AIG Have A Plan For Me?
AIG has long term care insurance plans to fit every budget, income and lifestyle. By purchasing your policy earlier in life you will have lower premiums since you are not a high risk for needing long term care insurance in the near future. With AIG long term care insurance they can help you to customize a long term care insurance policy that is right for you. With each plan you can pick the amount of coverage you wish to have that will fit into your budget.
What Do You Mean By Picking The Amount Of Coverage I Want?
Picking the amount of coverage means that you can decrease the amount of medical expenses your long term care insurance policy will cover. For instance one day of long term care in a facility cost about $150. You can choose for your policy to only cover up to $100 of the fee for the medical care at the facility, more or less. Of course you will be left to cover the rest but at least you will have some medical expense coverage and protection.
You can also choose to lower the amount of days your long term insurance policy will cover your medical expenses. For instance, you can choose to have up to 6 months of long term care medical expenses covered instead of 3 years. Lowering the amount of coverage your policy will give you will also lower your premiums and offer you a more budget friendly option. AIG long term insurance company is there to help you pick and customize a long term care insurance policy that not only offers you coverage but is also affordable.