Long Term Care

Long Term Care

Today, older adults have many options for long term care, including a variety of programs and services that provide enough assistance to enable seniors to live independently well into their senior years. Long-term care insurance provides valuable support and financial resources that help cover the cost of long-term care. By helping to protect your assets, and control where you receive care, whether in your home or in a facility. LTC insurance helps you and your family face the future with confidence. The decision to purchase long-term care insurance must be made while you are still healthy. Once a disabling condition occurs, it is too late to act.

Individuals who require long-term care are generally not sick, but instead, are unable to perform the basic activities of daily living (ADLs) such as dressing, bathing, eating, toileting, continence, transferring (getting in and out of a bed or chair), and walking.  These needs are part of the normal aging process, but can also be because of an illness or injury.  Care can be given at an assisted living facility, nursing home or even in your own home.

You should consider a Long Term Care Insurance Policy if you:

  • Have significant assets and income
  • Want to protect some of your assets and income
  • Can pay premiums including premium increases without financial difficulty
  • Want to stay independent of the support of others
  • Want to have the flexibility of choosing care in the setting you prefer

You should consider Long Term Care Insurance Options:

  • Coverage, value of assets you want to protect, should be calculated based on benefit amount and period of coverage
  • Benefit Amount, the maximum amount the policy proved to cover your cost of care (daily or monthly)
  • Benefit Period, the minimum period of time you can expect your coverage to last.
  • Elimination Period, like a deductible, the time (days) that you pay out of pocket before your benefits pay for your care.
  • Inflation Protection, percentage that your pool of money will grow to keep up with inflation.
  • Total Benefit Amount, the pool or bucket of money that pays for your care.

Please provide me with the free consultation and “A Shopper’s Guide to Long Term Care Insurance”.

Insurance product availability and benefits may vary by state.

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