Long Term Care Insurance

Long Term Care Insurance is designed to pay you a daily or monthly benefit when you need substantial assistance for 90 days or more with two out of six activities of daily living: Eating, bathing, dressing, toileting, transferring, or continence.

Or, if you have a cognitive impairment such as Alzheimer’s Disease or senile dementia, you will go into claim and be eligible to receive benefits. Most policies will pay wherever you hang your hat – at home, in an assisted living facility, adult day care center, nursing home (all three levels of care, i.e., skilled, intermediate or custodial). Most people buy long-term care insurance to protect their assets. When you are looking at $300 a day for care, it doesn’t take long to spend down your hard-earned savings.

Can you imagine yourself writing out a check for $9,000 EVERY month? How long do you think you will be able to do that before you run out of money? Other reasons people buy long term care insurance are because they don’t want to be a burden on their children or other family members, they want to remain independent and choose where they get the care they need.

Most folks want to remain at home for as long as possible; long term care insurance will help pay for the care you need at home. You should purchase long term care insurance from a reputable insurance agent who represents financially strong insurance companies.

We represent many strong carriers such as Mutual of Omaha & Genworth Financial for Long Term Care Insurance. We are now finding that clients are starting to live longer, and this need becomes more valuable. Many long time carriers are no longer offering benefits, so lets look at current trends and your needs before the time comes when you may need this type coverage. Most clients start considering this coverage starting around 55 to 65, but other ages consider coverage as well. It only takes, you knowing a family member or friend that is in the situation, to make you see the importance of this coverage. Without it, the cost can bankrupt most people. With the lookbck provision in most states being 5 years, Medicade if elected and if provided, can access your assets to pay the state back for coverage and expenses.