Long Term Care

With most Americans living longer than ever, most are likely to require long term care insurance. As they age, health and life insurance coverage won’t be enough. They’ll need additional funds to support themselves and their health. Long-term care coverage can ease their worries and provides that needed peace of mind. The right coverage options can insure the care of those who need it most by reimbursing them for services needed if age, injury, illness, or a cognitive impairment makes it challenging for them to take care of themselves. 

Long-Term Care Insurance (LTC) helps cover the costs of long-term services and supports for people 65 or older with a chronic illness or disability. Long term care insurance extends its coverage to home health care or nursing home costs beyond a specified period. Typically, Long-Term Care is designed to cover things like a home health aide to assist with bathing, dressing, or eating, in addition to nursing homestays.

The Long-Term Care coverage can be expensive considering a variety of factors like age, health, sex, and the coverage amount. But its future benefits, if you actually have to use it, will eventually outweigh its hefty cost. Besides, without Long-Term coverage, costs could be heavier on you and the rest of your family considering financial burdens and time that will be needed. A Long-Term care plan can protect your family’s financial future by providing valuable coverage benefits for costs associated with:

• Home Care
• Assisted Living
• Adult Daycare
• Hospice Care
• Nursing Homes
• Respite Care

Certain conditions are required in order to qualify for Long-Term care benefits. Certain pre-existing health conditions can make it impossible for you. But if you’re in good health, the younger you are, the lower your premium will be for the rest of your life – and generally the better your chance of meeting the company’s underwriting requirements. Talk to one of Phanald IT insurance professional to learn more about Long-Term Care Insurance and options available for a better decision-making process.