Long Term Care Insurance Options
There are two basic types of long term care insurance: comprehensive plans (those that cover care at all levels) and non-comprehensive plans (those that cover only home health care or nursing home care). Home health care only plans cover care
from nurses and therapists, as well as personal care from health
aides and housekeepers provided in your own home. Nursing home
only plans provides a daily benefit to cover the cost of a stay in a
skilled nursing facility. Comprehensive plans cover both Home Health and Nursing Home care as well as care in a community based setting (Assisted Living).
Selecting a long term care insurance plan
The long term care benefit payments you receive depend on the
plan you select. Of course, the cost of your coverage varies depending
on the plan you choose. When you buy long term care insurance,
you'll want to consider the following:
- The benefit amount - this is the amount the policy pays each
day
- The elimination period - this is the period of time you have
to wait before you receive benefits
- The benefit period - this is the length of time that you will
receive benefits
- Inflation protection rider - this rider automatically increases
your daily benefit amount each year
Who can qualify?
Generally speaking, anyone in reasonably good health up to age 99. There are many conditions and maladies which can cause a person to become uninsurable at any age. So the best time to consider LTC coverage is when you are HEALTHY. If you wait until you become ill, you not only risk being uninsurable, but you also will probably pay higher premiums.
Let our team of experts help you
We want your future to be bright. We can help you find a plan
that gives you the financial resources to manage the expenses
of a long term illness.
We know that choosing an insurance plan can be complicated, so
we've assembled a team of insurance specialists experienced in
providing the help you need. Your specialist will work with
you to select the long term care plan that's right for you.
Take that important step and contact an insurance specialist to
discuss your needs. We are committed to helping you with your
plans for the future.
Why do you need long term care insurance?
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Website Location: http://www.ltc-info.com
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