Long Term Care Insurance Policies
Long-term care tends to involve more than medical care. It can encompass assisting patients with the activities of daily living (ADLs). ADLs are the little routine things that make up so much of our lives that, when we're in good health, we take for granted our ability to perform them: things like bathing, dressing, and feeding ourselves.
As U.S. Department of Health and Human Services statistics show, about 70% of us will need some type of long-term care after we reach the age of 65. While 85% of the care provided today is regarded as "informal care" given by family members, greater than 40% of us will require some nursing home care. If you're one of this 40%, how will you pay for it? Look to us at Sun Coast Legacy Advisors. Our insurance agents can do for you what they've done for so many of your Central Florida-area neighbors: help you find suitable long-term care insurance.
Medicare and other types of health insurance don't address most long-term care services, which are often very costly. Yes, if your income and savings are small enough and your disabilities serious enough, you might qualify for Medicaid along with other publicly or privately funded programs. But you're largely left to fend for yourself, otherwise.
We can help by showing you a number of long-term care insurance options.
- A great number of long-term care insurance policies are called "indemnity" or "expense-incurred" policies.
- An indemnity (or "per diem") policy pays a fixed benefit amount no matter what your total expenditures.
- An expense-incurred policy pays you back for actual expenses up to a fixed dollar amount per day, week, or month.
- We also extend you the option of "integrated" policies, or policies with "pooled benefits."
Though no policy guarantees full coverage of long-term care expenses, we can help you find competitive long-term care insurance that does address your situation and your goals. We'll sit down with you and review such things as ...
- the kind and amount of long-term care you may need
- how much you can rationally pay for premiums
- how long you can manage to pay for care on your own before having to seek assistance from insurance (That longer stay in a nursing home, for instance, might unleash the bebilitating financial blow from which you'll want to protect yourself.)
If you'd like additional information on the benefits of long-term care insurance, contact Sun Coast Legacy Advisors of Central Florida and set up an appointment with our friendly insurance agents today.