Long Term Care Insurance

A long term care insurance policy reimburses you for assistance required with activities of daily living (such as walking, bathing, dressing, continence, toileting and eating), or directional reminding assistance required due to cognitive impairment from Alzheimer’s or dementia. You can select where you want to receive services and the maximum value of your long term care protection.

The cost of your long term care policy is based on:

• Your age when you buy the protection
• The maximum amount the policy will pay per day
• The maximum number of days (years) the policy will pay for care
• The lifetime maximum a policy will pay is the maximum amount per day times the maximum number of days
• Good health and spousal discounts can lower premiums significantly. Other plan design options can also lower premiums.

If you have health issues you may not qualify to purchase long term care protection because most policies require medical underwriting. Poor health may limit the amount of coverage you can purchase or you may only be able to purchase a policy at a non-standard rate.