Long Term Care Insurance

There's a good chance that you may need to pay for nursing home, assisted living or home health care one day. In fact, more than half of the U.S. population will require long-term care at some point in their lives.

Long-term care (LTC) refers to a variety of services designed to help people perform the functions of day-to-day living to help them remain independent. Some long-term care is aimed at providing help with day-to-day activities for people with chronic illness or cognitive impairment such as dementia. Other care services may be rehabilitative, helping someone regain funtion after a serious injury.

Long-term care is the type of assistance people need to perform normal daily activities such as eating, bathing, dressing, and transferring. Long-term care needs typically arise as part of the normal aging process, but can also be due to an injury or illness, such as multiple sclerosis, stroke, rheumatoid arthritis, or due to a cognitive impairment, such as Alzheimer's disease.

Long-term care is not just for the elderly. At least 70% of people over age 65 will require some long-term care services at some point in their lives, of those who have long-term care needs, 41% are under age 65.

Individual long-term care insurance can be tailored to meet financial and lifestyle goals. The policyholder selects the length of benefit term (one to five years or a lifetime) and other options such as the amount of maximum daily benefit, length of elimination period, level of care, inflation protection, and nonforfeiture benefits.

Most individual long-term care insurance is offered as guaranteed renewable policy--renewable with the same benefits as long as premiums are paid on time. Premiums cannot be increased unless they are changed for the entire class of policyholders. Since long-term care policies do not build cash value, buying a nonforfeiture benefit or selecting a policy with contingent nonforfeiture protection allows the insured to receive benefits upon surrendering the policy. Some policies offer riders that return premiums upon the death of the insured.

If you're concerned about being financially secure during your retirement years, you owe it to yourself and your loved ones to protect yourself against what could be the greatest threat to your financial security, the cost of long-term care.


For more information, please fill out the no obligation Long Term Care Quote Form, today.