Long Term Care Insurance pays for your care in the setting of your choice.
Long Term Care insurance coverage is designed to pay a monthly benefit for qualified long term care expenses when care is needed. Most policies offer between $1,500 - $10,000 per month in benefits. These monthly benefits will be paid until the total maximum benefits purchased in the policy are exhausted. Most policies will offer between $50,000 - $750,00 in total maximum benefits payable and will typically pay for care for 2 - 6 years. The types of care covered include home health care, adult day care, as well as assisted living and nursing facilities.
WHEN DOES LONG TERM CARE INSURANCE PAY BENEFITS
Long Term Care Insurance pays benefits when you need care.
Long Term Care insurance coverage will pay benefits when either one of the following benefit triggers are met:
When you are unable to perform without substantial assistance from another person at least 2 of the 6 Activities of Daily Living for a period of 90 days or more. The Activities of Daily Living are Bathing, Dressing, Eating, Toileting, Transferring, and Continence. Or,
When you require substantial supervision to be protected from threats to your health and safety due to a Severe Cognitive Impairment such as Alzheimer's Disease.
FREE EDUCATIONAL WEBINAR
There is more information available to you regarding long term care insurance, the different options, and what it all means to your family. You can access our free educational webinar below at any time by clicking on the button below.
