Request a Long Term Care Quote
Long term care insurance program protects your income and assets (and those of your spouse) from being depleted by long term care expenses. It provides you the independence to choose the place and type of long term care you receive, and most importantly avoiding dependence on your family for care.
Studies show 60% of people over age 65 will require long term care at some point in their lives. As people age, the probability they will need long term care also increases.[1]
For most the cost is too much. The average annual cost of nursing home care is $30,000 to $50,000[2] and the average length of stay is 2 1/2 years.[3] that's $74,000 to $125,000! And that's only an average. What could happen to your retirement income if $100,000 were removed from your savings?
Depend on Medicare?
Medicare pays only for skilled care and has applied other limitations to the coverage it provides. On the whole, Medicare pays only 8% of long-term care costs nationwide.[4]
Let Medicaid Pay For It?
Medicaid does pay for 40%[5] of nursing home expenses, but they pay only when you show financial need, or meet state spend-down requirements.
Transfer Your Assets?
According to the health insurance portability and accountability act of 1996, it is a federal offense to transfer assets to qualify for Medicaid.
Long term care rates are based on various factors, such as age, benefit amount, benefit period, inflation rate option, health history, other riders, insurability, tax-qualified or non-tax-qualified, etc.
Carriers We Represent:
- Bankers United life
- Fortis/Time
- Travellers
- Transamerica
- Lincoln benefit
- Allianze
- Union Mutual
- American Traveller's Life
- GE Capital
- John Hancock
Please call us for any additional information, or
request a quote.
- The Washington Post - April 1996
- U.S. Department of Health and Human Services, 1991
- The Consumers' Guide to Long Term Care Insurance, Health Insurance Association of America
- Long-Term Care Insurance: An Employer's Guide, Employee Benefit News - April 1, 1997
- Health Care Financing Review, 1991
