• Traditional Long Term Care Insurance

  • FINANCIAL MISTAKE: Not having a plan to address the risk of a long term care need.

    Traditional Long Term Care Insurance is coverage to provide resources to pay for potential future long term care costs. Many view this as a necessity to protect their nest egg.

    Here are some basics about traditional long term care coverage:

    ♦ Most plans pay for home care, assisted living facilities, adult day care, or nursing homes. (your choice)
    ♦ Premiums are based on initial age, health, sex, and the benefit level you choose.
    ♦ Plans are customizable to the benefit levels you choose or to the premiums you wish to pay.
    ♦ Plans provide daily or monthly benefits up to policy limits.
    ♦ Some plan is better than no plan. A basic traditional long term care plan can be used in conjunction with other
       policies that could provide additional benefits at no extra cost. (See Alternatives to Long Term Care Insurance)
    ♦ There is no guarantee you can qualify for a policy, so applying early may be a good strategy.