Long-term Care (LTC) insurance helps pay for care when a person is unable to perform 2 of 6 basic Activities of Daily Living (ADLs) OR has cognitive impairment (such as that caused by Alzheimer’s disease, dementia etc.). The ADLs are eating, bathing, dressing, toileting, transferring (mobility) and continence. A need for long term care may result from advancing aging, accidents, illnesses, stroke, or other chronic conditions. Long-term care services can be provided in a person’s own home, in an Adult Day Care Center, Assisted Living facility or a Nursing home.

Contrary to common perception, Medicare does not pay for these costs (Long Term Care Coverage (medicare.gov)). Long-term care costs can be expensive and the cost of care in the future will be much higher than it is today. California nursing home rates increased at an average of over 5% per year during the past 20 years (Source: CA Department of Insurance website). Here is a good tool to estimate the cost of care in your area: Cost of Long Term Care by State | Cost of Care Report | Genworth.

Having a Long-term Care policy helps you pay for the cost of care without exhausting your personal savings and assets. The younger and healthier you are, you may generally get the same coverage for a lower premium. We have access to several kinds of LTC coverage and premium options. Plans also provide a death benefit to a beneficiary if LTC is not used.

Trust us to help you plan ahead, for a greater sense of security about your future.