What Does Long Term Care Insurance Cover?
Long-term care insurance is one other way you may pay for long term care. Long-term care services may include help with activities of daily living, home health care, respite care, hospice care, adult day care, care in a skilled nursing facility, or care in an assisted living facility.
Why should you consider buying Long-term care insurance?
The need for long-term care may begin gradually as you find that you need more and more help with activities of daily living, such as bathing and dressing or independent activities of daily living such as household chores, meal preparation, or managing money. Or you may suddenly need long-term care after a major illness, such as a stroke or a heart attack. If you do need care, you may need a skilled nursing facility or home health care for only a short time. Or, you may need these services for many months, years or the rest of your life. People pay in a variety of ways. These include: using the resources of individuals and their families, long-term care insurance, and some assistance from Medicaid, for those who qualify. Medicare, Medicare supplemental insurance, and private health insurance usually will not pay for long-term care.
Is Long-Term Care Insurance right for you?
Long-term care insurance may be right for you if you have significant assets and income that allow you to pay premiums and possible premium increases with little difficulty. Assess your needs and resources with your family to determine if the benefits of a long-term care policy are worth the cost. Long-term insurance may also be right for you if you want to stay independent and lessen the burden on your family members. A Long-term care insurance policy can enable you to choose the type and amount of care you prefer in the setting of your choice. Our Licensed long-term care insurance agent can also assist you in filling out a worksheet that will further help you in determining whether you should buy long-term care insurance.
Long-term care insurance, give us a call at (847) 948-0860