So many things in life are beyond our control. Yet, you want to do your best to prepare for the future.
Something you may not have considered is the potential expense of long term care.
What is long term care? Long term care includes care and services provided
to a person who requires supportive help or supervision for a long time. It includes the assistance needed with the Activities
of Daily Living (ADL), when one develops a chronic disease, is stricken with a disability or sudden illness. It refers to
the supervision that may be needed with a severe cognitive impairment (i.e. Alzheimer's Disease) or other mental illness that
can limit a person's ability to think or reason.
What are the common provisions in
a long term care insurance policy? In order for an insured to qualify for long term care benefits, the
insured must be unable to perform, without substantial assistance, two of six Activities of Daily Living (ADL).
Activities of Daily Living include bathing, maintaining continence, dressing, eating, toileting and transferring. The insured
must be disabled, satisfy an elimination period (typically 90 days) and be certified by a licensed health care
professional in order to begin receiving benefits.
Another option for people looking for long
term care coverage is purchasing permanent life insurance with the Long Term Care(LTC) rider. This is an innovative and appropriate solution in several situations, which
can be considered under certain conditions. The first is whether you have a need for both life insurance and
long term care insurance. If there is no life insurance need, you should consider a standalone long term care policy.
If you need both types of coverage, adding the long term care (LTC) rider to a permanent life insurance policy can be less expensive than purchasing separate policies.
Many people ask, what about Medicare covering Long Term Care needs?
Medicare generally does not pay for long term care. Medicare also does not pay for help with activities of daily living (ADL)
or other care that most people can do themselves. Examples of daily living activities include eating, bathing, dressing, and
using the bathroom.
help pay for skilled nursing or home health care if you meet certain conditions. Medicare currently
covers certain skilled care services needed daily on a short-term basis (up to 100 days). For complete
information on what Medicare currently covers, please visit Medicare
Why should one consider Long Term Care Insurance? A
comprehensive long term care policy can help you, preserve your quality of life, retain your financial independence, protect
your savings, relieve the burden of care from loved ones and allow you to stay in your home as long as possible.
For more information on long term care insurance plans and quotes, please
email , contact us at 1 800 318 6050 or simply request a quote