Long Term protection for quality of life care.
Long Term Care Insurance
Retirees today are living longer than ever before. As we age, the likelihood we will need some type of medical or personal care increases. One in every two individuals turning age 65 today will need the coverage of a long-term care solution during their lifetime. But aging is not the only reason to plan for long-term care; it's there for you if a chronic illness or disabling injury prevents you from living on your own or properly caring for yourself--no matter how old you are or how long care is needed.
Long-term care is comprised of more than nursing home care. It can also involve care provided by assisted living facilities, adult day care centers, hospice facilities, and skilled nurses or home health aides in your home. Long-term care helps with day-to-day tasks like bathing, eating, getting dressed, getting in and out of bed, as well as assisting those who have severe cognitive impairment as a result of Alzheimer’s disease or other conditions. According to the Alzheimer’s Association, 1 in 3 over the age of 65 will die from Alzheimer’s disease or dementia.
Contrary to common belief, health plans such as Medicare and Medicaid don’t cover all long-term care expenses. And Social Security or savings may not provide enough to cover unexpected long-term costs. For 2018 the average cost of a home health aide in Georgia is just shy of $47,000 per year, while the cost of a private room in a nursing home is over $79,000 annually.
Whether you require home health care, nursing home care, or something in between, planning ahead with long-term care insurance may help provide the protection for financial security, greater independence, and preserve your family’s quality of life by reducing the expense and burden of long-term care. You can continue to live your life as comfortably and with as much dignity as possible, without sacrificing the income, investments, and savings you have worked so hard for.
It is important to understand the types of policies available in the marketplace and the differences between Traditional Long Term Care Insurance and the newer Hybrid Asset-based Long Term Care Insurance products to determine which is best.
For additional information on these products click on the appropriate link for each here: Traditional Long Term Care Insurance or Hybrid Asset-based Long Term Care Insurance.
Receive Independent Unbiased Objective Advise
As an independent agency, LionCrest Insurance Advisors has access to several carriers which will allow us to provide you with unbiased options to structure the best solution for your specific long-term care insurance need. We will discuss: the costs of various types of care, which type of policy is more appropriate, the estimated cost of a customized policy and all respective options, as well as whether full or partial coverage is needed.*
Determining the type of policy and amount of long term care insurance coverage you need does not have to be difficult. Let LionCrest Insurance Advisors independent expertise and client-focus help determine your best solutions for Life.* Contact us today for a consultation and free quote.
*LionCrest Insurance Advisors, LLC and their respective employees, representatives, and/or insurance agents do not provide tax, accounting, or legal advice. Please consult an independent advisor as to any tax, accounting, or legal statements made herein.
Long-Term Care Insurance Quote Forms
Looking for coverage? Click any of the following links to submit a quote for quick, accurate and affordable rates.
Long Term Care Quote Form