Understanding Your Options.
What is Long Term Care Insurance?
Long term care insurance is used to protect your savings from the high cost of the personal care you may someday need. This need for care may be due to an accident, injury, cognitive impairment or frailty from advancing age and is the single greatest uninsured financial risk facing Americans today.
Long term care includes a large array of services to assist you with your personal activities of daily living. These services can easily cost $50,000 to $100,000 per year or more.
Long Term Care Is Not What You Think!
You have choices. Most care is received at home not the nursing home.
How Does A Long Term Care Policy Work?
Policies pay a benefit when you need long term care.
Types of Plans Available
Policies today typically cover care in a variety of settings, from your home, assisted living, day time programs, or nursing homes.
Types of Plans available:
Traditional Long Term Care Insurance.
Life Insurance with Long Term Care Benefits -Hybrid plans.
Tax Deferred Annuities with Long Term Care Benefits-Hybrid Plans.
Pension Protection Act Qualified Annuity Long Term Care Benefit Programs.
State Partnership Qualified Long Term Care Programs.
Basic Plan Design
Our easy process will help you understand your choices and explore the ways LTC is typically paid for.
We’ll help you compare companies, decide how much insurance to buy, and pick the important options for you to have – all so that you don’t overpay.
Basic Plan Design includes:
Maximum Benefit (Pool of Money).
Monthly/Daily Benefit (You choose the amount).
Elimination Period (You choose the length).
Other Important Options
Give you and your family a boost when you need it most.
Other Important Options includes:
Restoration of Benefits.
Waiver of Premium -built in to many policies.
Dual/Spouse Waiver of Premium.
Shared Benefits (Benefit Transfer Options).
Home Care Waiver of Elimination Period.
Uninsured Spouse Security Benefit.
Return of Premium.
Non-Forfeiture Benefits (shortened benefit).
Premium pre-payment (10, 20 pay, etc…).
Secure Your Future
The Goal of LTC Planning
To provide you the funding necessary to:
Provide sufficient cash flow when it is needed most.
Preserve independence, retirement income and assets.
Assure access to quality care in the setting you choose.
Protect you and your family members’ emotional, physical, and financial well-being.
Safeguard inheritance intended for your loved ones.