What is Long Term Care Insurance? (LTCi)
Long term care insurance allows you to have a plan in place to help protect your assets and remain as independent as possible, if you require the need for long term care. Long term care insurance may help give you the peace of mind that comes with knowing you have more choices and more control over care options. This type of coverage may help you maximize your independence when you are unable to be fully independent.
Who needs Long Term Care Insurance?
A chronic condition or prolonged illness can happen to anyone, at anytime. If you are looking to help protect your assets from being depleted should a long term care need arise, long term care insurance might be a good option for you or a loved one.
What does Long Term Care Insurance cover?
A long term care insurance policy may help you pay for the care needed when you are unable to do everyday activities such as eating, getting dressed, bathing, maintaining continence and getting in and out of bed without assistance. The goal for long term care services is to provide assistance and improve the quality of life for those who are chronically ill or have a severe cognitive impairment. A comprehensive long term care insurance policy may provide coverage for long term care needs in the home, community-based settings, an assisted living facility or nursing home.
The below chart shows estimated years of LTC needed after age 65
Policy Types
We offer a variety of long term care insurance options depending on your needs.
Long Term Care Insurance for Individuals
If you live long enough and develop a chronic illness or a severe cognitive impairment, you may require extended care at home, in an assisted living facility or nursing home. Long term care insurance (LTCi) helps to cover these costs, which can be steep. A tax-qualified LTCi plan can help you maintain your financial freedom and give you the flexibility to participate in making choices that impact your care including the services you receive, where you receive them, and who provides the care – all without depleting your assets.
Group Long Term Care Insurance
We offer comprehensive group LTCi programs that can showcase your organization as a forward-thinking and proactive employer. When offered as part of your benefits package, group LTCi can provide your employees with a way to help protect their savings and assets and their ability to choose where care is received.
Linked Benefits
Historically, you had to buy long term care and life insurance policies to preserve the assets you’ve accumulated and protect the legacy you plan to leave behind to loved ones. Linked Benefits insurance combines life insurance and long term care insurance into one flexible life insurance product.
