Long Term Care Insurance

What is long term care?

Long term care is the medical and/or social services term for helping
people who develop disabilities or chronic care needs. For example, there
may come a time when you or a loved one need help walking, getting
dressed, eating or bathing. It also includes the kind of care you would need
if you had a severe cognitive impairment such as Alzheimer’s disease.
Long term care services may be brief with full recovery, or it can continue
for years. Services may be provided in a person’s home, in the community,
or in a residential facility (e.g., nursing home or assisted living facility).

What benefits do you get from long term care coverage? Why do people
buy it? As you would expect, a good long term care insurance
policy delivers broad and flexible benefits to help provide and pay for the long term care services you need.

There are six common reasons why people want to buy this insurance
1) Relieve the potential burden on their loved ones
2) Help to make certain they have a choice of care and receive
quality care
3) Help to make certain they maintain their independence
4) Help to protect the assets they’ve worked to earn (either for the
spouse or to pass on to an heir)
5) Avoid having to rely on Medicaid
6) Proactively make decisions that protect their family and themselves
Having long term care coverage could save you hundreds of thousands of dollars, should you need care.

Deciding to buy a long term care insurance policy is an important decision. These policies can help pay for many types of long term care, but they are not for everyone. Costs and benefits of policies from different insurance companies vary greatly. LTC Capital made the decision to provide plan choices from all the top insurance carriers so that we may address individual and specific needs and requirements.

LTC Capital stays informed for incentive programs that foster the purchase of long term care insurance. Examples include government partnerships that increase the value of the assets that people are allowed to retain when they qualify for Medicaid. Additionally, tax benefits are being offered.

LTCI is a complex subject but we will help you with a personalized, affordable plan in easy to understand, non-industry terms.  Our firm keeps up with the latest legislative efforts in the insurance space through research, industry association affiliations and relationship sources, and we can help you prepare for these changes and suitable employee communications.