Long term care insurance is used to pay for day-to-day assisted living expenses like eating and dressing health monitoring, residency in an assisted living facility or nursing home, and other types of care.

Nearly 40% of people age 65 will spend some time in a nursing home.  It is typical for private nursing home costs to exceed $65,000 - $90,000 per year! And it is important to understand that Medicare does not cover long-term care expenses, nor do Medicare Supplement policies.

These are the following features you should consider when investigating long-term care insurance:

• Covered Benefits – be sure to get a plan that covers a range of options and locations, including assisted living facilities, adult day care, and at-home services.
• Benefit Triggers – be sure you understand what triggers the benefits.  Typically, this is when you are no longer able to perform at least two activities of daily living.
• Benefit Limits – understand how much your policy will pay, and for how long.  The average stay in a nursing facility is 2.5 years.  If you can afford it, choose a plan with lifetime coverage.
• Elimination Period – this is the period of time during which you must pay your long-term care expenses.  The longer the period, the lower the cost of coverage.
• Inflation Rider – a plan with this benefit will protect you from increasing costs.

For more information and price quotes on Long Term Care coverage, please fill out the form below and we will contact you with pricing information in your area.