Long-term care insurance can play an important role in helping to ensure you don’t become a financial burden on your loved ones. Also called LTC, long-term care insurance provides benefits that help cover the costs of a variety of medical services if you become ill or disabled and are unable to care for yourself, including in-home care, nursing home care, and even adult daycare.
What Services Are Provided?
LTC insurance policies provide for a broad range of coverage options so you can custom-tailor your policy to suit your needs and your budget. Covered services can range from help with daily activities like dressing, bathing, toileting and eating to more extensive nursing and skilled care services in your home or a healthcare facility setting. Most policies provide reimbursement based on a specific amount per day of care up to a preselected limit.
Costs and Qualifications
The cost of an LTC policy can vary based on multiple factors, including your age at the time the policy is purchased, the daily benefit that will be paid, the duration of coverage and other benefits and options.
Because some insurance companies require medical evaluations to enroll in an LTC policy, men and women in poor health and those who already are receiving long-term care services or who have received services in the past may not qualify for an LTC policy, or if they do qualify, the rates may be higher or the benefits may be limited.
There are lots of factors to consider when selecting an LTC policy, and at SeniorChoices NW, we’re ready to help you understand all your options so you can make the best choice for your needs. To learn more, give us a call toll-free today at 866-682-1878 or fill out our online contact form.