Long Term Care Insurance
Give yourself peace of mind
Like Life Insurance, people rarely want to discuss the potential need for Long Term Care Insurance. Very few people without Long Term Care Insurance are confident that they can pay out-of-pocket for extended care, if they need it. How confident are you?
Why Long Term Care matters
Faster Care
People with Long Term Care Insurance are more likely to get the care they need and deserve faster, because they know the care is covered.
Quality Care
If you can't afford to pay for extended care, you won't get to choose the care you receive. Not all medical care facilities provide the highest quality of care.
Asset Protection
You may have tucked away a large nest egg, but that money will go very quickly if you require extended care. You don't want your family to have to work twice as hard, to pay for your care when you can plan ahead.
Peace of Mind
Long Term Care Insurance is there for you if you need it. Not needing it would be ideal, but not having it when you need it, is anything but ideal. Give yourself and your family peace of mind that you're covered in case you need it.
Did you know?
The cost by 2030, could increase dramatically, and at the very least, is likely to increase by at least $30,000.
Long Term Care Insurance can help cover these costs, and not planning for it can be the single biggest financial mistake a person makes.
Frequently Asked Questions
Long-term care insurance is a policy that helps cover the costs associated with extended care services, such as nursing home care, assisted living, or in-home care, when you have difficulty performing basic daily activities due to age, illness, or disability. It provides financial protection and ensures you receive the necessary care without depleting your savings.
Long-term care insurance is particularly relevant for individuals who want to protect their assets and maintain their quality of life in case they require extended care services as they age. It’s a valuable option for those who want to avoid burdening their family with caregiving responsibilities.
Long-term care insurance typically covers a range of services, including nursing home care, assisted living facility care, in-home care, adult day care, and hospice care. The specific services covered can vary based on the policy and options chosen.
Long-term care insurance policies have a daily or monthly benefit amount, which is the maximum amount the policy will pay for covered services. You choose this benefit amount when purchasing the policy. Once you qualify for benefits based on your care needs, the insurance company pays up to the specified benefit amount.
Yes, most long-term care insurance policies have an elimination or waiting period. This is the period during which you must pay for your care expenses out of pocket before the insurance benefits kick in. Common waiting periods are 30, 60, or 90 days, but they can vary depending on the policy.
To apply for long-term care insurance, you’ll need to complete an application and undergo a health assessment. Premiums are determined based on factors such as your age, health, coverage amount, waiting period, and any optional riders you choose. Generally, purchasing a policy when you’re younger and healthier can result in lower premiums.
Talk to a Long Term Care Insurance agent
We’ll work with you to see if you qualify for coverage and to get a plan that gives you peace of mind.