Long Term Care Insurance

As people get older, they may begin to need some assistance…

…with some or all of the daily tasks they once took for granted, like bathing, dressing, or eating. A Long Term Care insurance policy can help cover the significant expense of this type of care. 

What Does Long Term Care Insurance Cover?

While all policies have different coverage options, generally speaking Long Term Care insurance can help pay for the cost of elder care services like nursing homes, in-home nurses or assistants, assisted living, home modification, adult day care, or the coordination of all these types of care. 

Long term care insurance does not cover the cost of surgeries, doctor’s visits, and prescription drugs, which are all under the purview of personal health insurance or Medicare. 

Who Needs Long-Term Care Insurance?

In 2020, the US Department of Health and Human Services estimated that around 70% of people 65 and older will need some form of long term care or support. With the median cost of nursing homes alone at around $100,000 per year, a long term care policy can be essential to protecting your retirement savings. 

Long term insurance premiums can increase significantly in cost as you get older, and if you already need care a policy may be difficult to come by. In light of that, many people begin shopping for long term care policies in their fifties. Our expert agents can help you find a long term care policy that meets your needs and your budget.