LONG TERM CARE / LIFE INSURANCE
Long Term Care insurance is a subject that many of us don’t want to think about. The prospect of needing long term care is daunting and many times we are in denial that “it won’t happen to me”. Yet statics show that 1 out 2 people will need some type of Long Term Care in their lifetime.
WHAT IS LONG TERM CARE?
Long term care is the care people need when they can't perform the tasks of ordinary living independently. Long Term care refers to a wide range of medical, personal and social services.
This type of care may include help with activities of daily living such as eating, dressing, transferring, bathing, toileting and continence. It can also be care related to cognitive impairment like memory loss or dementia.
A person may be able to dress themselves and get around, but they may have trouble remembering to take their medication. Many policies also offer a Care Coordinator benefit which gives you the benefit of having a licensed health care professional who can assess your needs and develop an individualized care plan.
This is an extremely helpful benefit for those friends or family members who are coordinating your care. Long Term Care may include care in the following settings:
Long Term Care can include care in the following settings:
TERM LIFE INSURANCE VS. PERMANENT INSURANCE
How to choose:
How long will you plan to hold the policy?
0 YearsIf you're going to have the policy for 10 years or less, choose term life insurance
0 YearsIf you're going to have the policy for 20 years or more, choose permanent life insurance
If you plan to have the policy between 10 and 20 years, it's probably best to consult an insurance professional to get a better picture of your overall situation.
Please contact us for the most up to date policies and your free Long Term Care Insurance Guide.
Long Term Care policies offer a wide variety of built-in options when it comes to types of policies and benefits offered.