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04 April 2007 13:30

How to buy long-term care insurance

Planning for your future involves more than saving in a 401(k). Consider insurance to provide for your health care needs. NEW YORK (CNNMoney.com) -- It's no surprise that healthcare costs are soaring. The cost of a nursing home today is about $71,000 annually, or about $200 a day. The cost for assisted living is about $32,000 a year or $88 dollars a day. And home care price tags are up about 13 percent. The average hourly rate for home health aides is about $25, according to a survey by Genworth Financial. In today's top tips, we'll tell you what you need to know about long term care insurance.

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