Long Term Care (LTC) Insurance is a must for anyone who wants or needs to protect their retirement, savings or wealth they have established. Why? Because the cost of LTC can pile up into the hundreds of thousands and quickly wipe out a nest egg. This scenario is more common than you may think, given that 52% of people turning 65 will need LTC at some point, and, according to the Alzheimer’s Association, end-of-life care costs run into the hundreds of thousands of dollars. It’s also important to note that roughly 40% of those receiving LTC today are between the ages of 18 and 64.
Long Term Care services fall under skilled care or personal care and are the types of services that regular health insurance, Medicare or Disability generally do not cover. LTC coverage pays for services that are associated with performing tasks required for daily living. These services include assistance with dressing, bathing, eating, getting in/out of bed, toileting, walking or other basic activities.
Purchasing a LTC plan can help you avoid losing everything you have worked hard for, as well as give you the power you need to maintain control of your care, choosing the facilities that best suit your needs. Policies cover:
Way Financial can help you assess your needs and find you the best LTC coverage available for your circumstances. Please submit the form to the right and we will contact you soon.