According to the statistics from the American Association of Long-Term Care Insurance, "the lifetime probability of becoming disabled in at least two activities of daily living, or of being cognitively impaired, is 68% for people age 65 and older."
Long Term Care Insurance (LTC) is designed to reimburse you for expenses for everyday living assistance, should something happen to you. Traditional medical insurance and Medicare will not cover extra costs should you need help with activities we take for granted like bathing, eating or simply getting out of bed. LTC insurance options can provide for nursing home costs as well as home health care and assisted living.
How Premiums Are Determined
- Maximum policy limit
- Maximum per day allowance
- Total number of days the coverage will pay for
- Allows you to maintain your independence
- Reduced financial obligations
- Provides for improved quality of care
- Reduces stress of family members, knowing you are taken care of.