1. The most common myths is that long-term care insurance only provides nursing home care, and nothing is further from the truth. It provides home care for those who prefer to “age in place,” as well as care at adult day care, assisted living facilities and hospice centers.
2. Most long-term care insurance policies offer greater flexibility in the types of services available, such as home modifications like installing grab bars or a wheelchair ramp to help you stay at home longer and safer.
3. Long-term care insurance recognizes the important role family caregivers play in long-term care situations by offering options that can make it easier for families to care for the loved ones who cared for them. Most policies provide caregiver training for family members, which helps ensure care recipients are getting the best care possible. Some policies go the extra mile by recognizing family caregivers, and even family friends who provide care.
4. If one spouse exhausts his or her benefits, he or she can begin using the other spouse’s benefits. This provides couples with peace of mind knowing that their coverage will be there if care is needed for longer than expected. It typically also includes a built-in protection to ensure a surviving spouse can still receive long term insurance advantages.
5. Age and health are two of the most important factors when applying, so applying at a younger age will help make it more affordable, and you are likely more insurable from a health perspective. Additionally, accidents and illnesses can happen at any age and include the need for extended personal care.
6. Carriers paid a record $7.8 billion in claim benefits to 250,000 individuals in 2014, up from $7.5 billion the previous year. You can interpret this number a couple of ways: which are both true. But it also shows that long-term care insurance is working. It’s helping families provide care for their loved ones in a setting that they prefer.
Learn more about long-term care insurance and why it’s a critical piece of retirement planning. Ask your financial advisor about these and other features and how it has helped their clients like it helped 250,000 families last year.
You can also check out this Real Life Stories video about the Mollicone family, which does a great job of showing how long-term care insurance can protect a family’s finances, provide peace of mind, and lessen the impact of long-term care when it is needed
2. Most long-term care insurance policies offer greater flexibility in the types of services available, such as home modifications like installing grab bars or a wheelchair ramp to help you stay at home longer and safer.
3. Long-term care insurance recognizes the important role family caregivers play in long-term care situations by offering options that can make it easier for families to care for the loved ones who cared for them. Most policies provide caregiver training for family members, which helps ensure care recipients are getting the best care possible. Some policies go the extra mile by recognizing family caregivers, and even family friends who provide care.
4. If one spouse exhausts his or her benefits, he or she can begin using the other spouse’s benefits. This provides couples with peace of mind knowing that their coverage will be there if care is needed for longer than expected. It typically also includes a built-in protection to ensure a surviving spouse can still receive long term insurance advantages.
5. Age and health are two of the most important factors when applying, so applying at a younger age will help make it more affordable, and you are likely more insurable from a health perspective. Additionally, accidents and illnesses can happen at any age and include the need for extended personal care.
6. Carriers paid a record $7.8 billion in claim benefits to 250,000 individuals in 2014, up from $7.5 billion the previous year. You can interpret this number a couple of ways: which are both true. But it also shows that long-term care insurance is working. It’s helping families provide care for their loved ones in a setting that they prefer.
Learn more about long-term care insurance and why it’s a critical piece of retirement planning. Ask your financial advisor about these and other features and how it has helped their clients like it helped 250,000 families last year.
You can also check out this Real Life Stories video about the Mollicone family, which does a great job of showing how long-term care insurance can protect a family’s finances, provide peace of mind, and lessen the impact of long-term care when it is needed
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