As you age, you have to think about who will take care of you if you can’t continue taking care of yourself. You don’t want to be a burden on your family, so you look at other options. The costs of home care, assisted living, and nursing homes can pile up quickly. That’s why a long-term-care insurance policy might make sense for you. Unland Companies will help you shop the market and compare which policy is best for your particular situation.
How does Long Care Insurance work?
A long-term-care insurance policy pays for assistance with daily needs over an extended period of time. From the basics – bathing, dressing, fixing meals – to skilled care from therapists and nurses, this insurance policy protects hard earned savings from being depleted. If you start claiming benefits, there is a cap to how much you receive daily, usually between $100 and $200. Should you need a higher level of benefits you would need to adjust your policy accordingly.
Who should obtain Long Term Care insurance? Is it something for me?
Your individual situation determines if a long-term-care insurance is best – age, health status, retirement goals, income and overall assets.
But basically it comes down to this question... can you afford the premium for the rest of your life?
If your only source of income is going to be Social Security or Supplemental Security Income, this plan probably isn’t for you. However, if you have a large amount of assets that you don’t want to use to pay extended care, you may want to consider it.
We have agents standing by to help you with any insurance questions you have.
Call 800-747-3241 or email us directly.