Long term care insurance is one of the not much utilized financial protection tools yet essential to protect your wealth and dignity should you able to perform your daily living activity or mental incapacity.
Long term care insurance provides you income-style benefit (most popular one) if you become unable to care for yourself due to aging, an accident, illness or deteriorated mental and physical abilities. Sometimes, even savings like retirement savings will not be enough when you need additional care.
Some insurance companies all the money you receive from the insurance company is for you and your family to use as you wish – you do not need to submit receipts for reimbursement – giving you more control and choice while helping to protect your savings and income. Some companies, you have to show your medical related expenses to qualify for the claim and few only pays if you admitted in nursing home or long term care facility.
Consider long term care insurance if you’re concerned your retirement income might not last for your lifetime if your health deteriorates and government programs are insufficient to meet your needs. Or if you want the financial resources to help you choose the type and level of care that’s right for you if you have an accident or need substantial care later in life as you age. And you want to protect your wealth and legacy from being eroded by the cost of care.
Long term care insurance will bring care to your home if you don’t need to move to a facility right away. It will also lessen the burden to care-giver and financial support to your family if you’re going to live with them. It will also manage your care and expense if you have a severe accident, at any age, that results in you needing substantial assistance from a family member or care-giver.
Contact us how you can help to protect your assets or live your life with dignity.