Traditional protection for quality of life care.
Traditional Long Term Care Insurance
With a traditional stand-alone long term care policy, you elect your benefits at the outset. Your policy can be custom-tailored to suit your needs. Your premium is guaranteed renewable. Premiums are typically paid on a monthly, quarterly, semi-annual or annual basis. As long as you pay your premium, you will have coverage in-force.
Long term care insurance policies are similar to your auto insurance, homeowners insurance, and health insurance. There is no cash value. As with your auto or homeowners insurance, if you do not make a claim on your policy you will not receive any benefits.
Because this traditional insurance utilizes a "pay-as-you-go" approach your premium is typically affordable and attainable. Most importantly because traditional policies are able to be customized. You are able to design the policies to account not only for your current needs, but also to account for future inflation costs of medical care. If inflation protection requirements are met, traditional policies will also offer you Medicaid asset disregard benefits through the State of Georgia's Long Term Care Partnership Program. However, with this traditional form of long term care insurance your premium may be subject to future rate increases.
If you would prefer the certainty of fixed insurance premiums and have a large amount of assets which might be able to be repositioned without financial hardship such as a "paid up" life insurance policy or annuity, the Hybrid Asset-Based Long Term Care Insurance may be more suitable for you.* To learn more about this newer type of policy click the following link: Hybrid Asset-Based Long Term Care Insurance
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, or for faster service complete the quote form for Long Term Care Insurance which can be accessed by clicking the quote form link: Long Term Care Quote Form
*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.