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2020
Last Updated

Should I be Considering Long-term Care Insurance?

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Planning for your Future Care

For many it can be difficult to picture now, but more than likely, you will need some sort of help with your future care later in life. So how will you pay for it?

Considering long -term care insurance is one option. Long- term care entails a suite of services not usually covered by traditional health care coverage; such as dressing, bathing, and other daily living functions. Long-term care insurance will help cover the costs of all of those tasks plus tasks associated with care for chronic illnesses such as Alzheimer’s and Dementia. Most policies will cover the costs of care within many different spaces such as;

  • Home
  • Adult day care
  • Assisted living facility
  • Nursing home

If you are in your 50’s and beyond, considering and planning for you care, is especially crucial right now! The reason why? You absolutely cannot wait until you need care to purchase long-term care insurance. If you are already in need of care you will not qualify for this type of insurance as you will not be medically underwritten for approval. About half of the elderly population require some form of long-term care not covered by traditional health insurance, it is likely you will too. Purchasing long-term care insurance will give your more options for care, protect your savings , and also protect your assets.

Where Do I Start?

Before you purchase coverage there are a couple of topics and policy features to educate yourself on. You will want to understand exactly how long-term care insurance works, the cost to insure, tax advantages, and who to buy long- term care insurance from. You can purchase long-term care insurance directly from insurers or you can work with an agent who can help guide you through the process. Before you get started consider researching the following topics found below:

 

If you or someone you love is interested in Long Term Care or Long Term Care Insurance be sure to visit: LTC TREE for more information.

 

 

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Price comparisons customized to suit your specific needs from top carriers such as Genworth, Transamerica, John Hancock, New York Life, National Guardian Life, Mutual of Omaha, and more.

Carriers quoted will depend on your state. Completing this form does not bind you to any insurance policy.