You spend a lifetime working hard and saving for the future to ensure your family’s financial security. You purchase life insurance or disability income insurance, make investments and contribute to your retirement plan. And, while you can’t predict the future, you can continue to plan for it.
According to the statistics from the American Association of Long-Term Care Insurance, “the lifetime probability of becoming disabled in at least two activities of daily living, or of being cognitively impaired, is 68% for people age 65 and older.”
Long Term Care Insurance (LTC) is designed to reimburse you for expenses for everyday living assistance, should something happen to you. Traditional medical insurance and Medicare will not cover extra costs should you need help with activities we take for granted like bathing, eating or simply getting out of bed. LTC insurance options can provide for nursing home costs as well as home health care and assisted living.
How Premiums Are Determined
- Maximum policy limit
- Maximum per day allowance
- Total number of days the coverage will pay for
Benefits Of Long Term Care Insurance
- Allows you to maintain your independence
- Reduced financial obligations
- Provides for improved quality of care
- Reduces the stress of family members, knowing you are taken care of.