age well in the comfort of home

Long-Term Care Insurance
Long-term care insurance can be vitally important when it comes to being able to pay for the in-home services needed to age in place.  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 policies reimburse policyholders a daily amount (up to a pre-selected limit) for services to assist them with activities of daily living such as bathing, dressing or eating.  You can select a range of care options and benefits that allow you to get the services you need, where you need them.

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

• How old you are when you buy the policy

• The maximum amount that a policy will pay per day
• The maximum number of days (years) that a policy will pay
• 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

If you are in poor health or already receiving long-term care services you may not qualify for long-term care insurance as most individual policies require medical underwriting. In some cases, you may be able to buy a limited amount of coverage, or coverage at a higher “non-standard” rate.  Some group policies do not require underwriting.