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Long Term Care Insurance
Unlike traditional health insurance, long-term care insurance is designed to cover long-term services and supports, including personal and custodial care in a variety of settings such as your home, a community organization, or other facility.
Long Term Care Insurance Cost
How lont term care insurance coverage is priced to provide benefits will vary depending on personal need, preference, plan or carrier choice and budget limitations to name a few.
How old you are when you buy the policy
The maximum amount that a policy will pay per day
The maximum amount per day times the number of days determines the lifetime maximum amount that the policy will pay.
Any optional benefits you choose, such as benefits that increase with inflation
long term care insurance faq’s
Many long-term care insurance policies have limits on how long or how much they will pay . Some policies will pay the costs of your long-term care for two to five years, while other insurance companies offer policies that will pay your long-term care costs for as long as you live —no matter how much it costs. But there are very few that have no such limits.
Before you buy a policy, be aware that the insurance company may raise the premium on your policy. It is a good idea to request information on the company’s premium rate history.
Having your decisions squared away and clear, so that there are no misunderstandings or second-guessing, can be the greatest gift you can give to your loved ones, and yourself. In this section we will answer the following questions: