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Longterm Care Insurance

Safeguarding Your Future

Long-term care insurance is designed to cover the costs of care not typically covered by regular health insurance, Medicare, or Medicaid. It assists individuals in funding the care they may need as they age, such as assistance with daily activities including bathing, dressing, and eating, or services related to chronic medical conditions. This type of insurance is particularly important for those who want to plan for their future health needs and protect their savings from the high costs of long-term care. When considering a long-term care policy, it's crucial to evaluate factors such as the benefit amount, duration of coverage, and the waiting period before benefits begin. For example, someone with a family history of chronic illnesses might opt for a policy with a shorter waiting period and longer duration of benefits to ensure comprehensive coverage.

Planning Ahead

The right time to invest in long-term care insurance is typically when you are in your mid-50s to mid-60s, while you are still in good health and the premiums are more affordable. Purchasing a policy too late in life can be cost-prohibitive, as premiums dramatically increase with age and the onset of health issues. Potential policyholders should look for options like inflation protection, which adjusts the daily benefit amount to keep up with the rising cost of care. Additionally, some insurers offer discounts for married couples or domestic partners when both purchase long-term care insurance. For instance, a couple might receive a discount of up to 30% each, making it a more economical option for managing future healthcare needs. Choosing the right long-term care insurance involves assessing your health, family medical history, and financial situation, ensuring that you select a plan that meets your anticipated needs while remaining within your budget.

Contact us today to explore insurance options and find the policy right now you.

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