Cancer is the leading cause of Long Term Care Expenses. Most Major Medical insurance plans will not pay those types of bills. If you are not able to or willing to use your “Rainy Day” savings to hire a Home Health Aide, I recommend that you consider getting an inexpensive Critical Illness insurance plan to supplement your Major Medical. If you are diagnosed with cancer, it will give you the money that is required to hire a Home Health Care aide and pay your bills until you recover enough to go back to work.
Critical Illness insurance is typically significantly less costly than traditional Long Term Care insurance policies plus a Disability Income policy. They make certain that you do not have to spend your retirement savings if you are diagnosed with cancer, heart attack or stroke during your peak earning years.