Long Term Care Insurance

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Long Term Care Insurance Can Help Support a Worry-Free Tomorrow

Unfortunately, at some point in our lives, many of us will need assistance with daily activities over an extended period of time, particularly as we age. The type of help we may need can range from simple things like bathing, dressing and eating, to skilled care provided by nurses, therapists or other professionals.

Normal health insurance policies will not pay for help with these activities of daily living. Medicare, for example, will cover a short stay in a nursing home, or a limited amount of at-home care, and only under very strict guidelines. That’s why many individuals and couples decide to purchase long-term care insurance.

Rely on experts who can explain your options

Benefits by Design is a full service long term care insurance broker, offering custom tailored long term care products. We can provide the expert advice and honest, direct answers you need to make the right long term care policy decision. You may know that long term care policies cost less if purchased when you’re younger and in good health, but when is the best time for you to purchase a policy? Policy premiums tend to go up over time. Will you be able to pay the policy’s premiums, now and in the future, without breaking your budget?

Long term care policies come with a wide range of options and usually include maximum timeframes that care will be paid for, maximum daily payouts and may include inflation riders. Depending on the policy options you choose, you may able to get the help you need while living at home, rather than in an assisted living facility or nursing home.

If you have a serious health condition, you may not be able to get coverage at all, or you may have to spend considerably more for a policy. Long term care insurance companies often turn down applicants due to a preexisting condition. Qualifying for long term care insurance is a similar process to qualifying for life insurance.

Types of Long term care policies

Long term care only– These types of policies represent the bulk of long term care policies sold. They strive to fill in the gaps from your regular income for long-term care services and are usually purchased with monthly, quarterly, semiannual or annual premiums. Abbreviated payment options may be available so that the premiums are fully paid up, after 10 or 20 years.

Hybrid products that combine long term care and life insurance– Some individuals prefer a combined long term care and life insurance policy. With this type of policy, when the insured dies, a life insurance death benefit results. If the individual who is insured needs long-term care before his or her death, those benefits are paid instead of life insurance.

We can explain both types of policies and help you make an informed decision.

Let Benefits By Design help you purchase the right type of long term care insurance for your situation and needs.

To learn more, please call: (415) 524-8959.