When people say they want to get life insurance for long term care, they usually mean they need an insurance policy to cover the expenses of long term care, should that ever be an issue. Like most insurance products, the need for insurance for long term care should be discussed with a highly trained insurance professional.
Life Insurance Planning
Life Insurance for Long Term Care
What's Covered in a Long Term Care Policy?
Long term care policies generally cover in home care for someone who is considered disabled. This care can be low needs like adult day-care, or high needs like constant professional supervision by medical staff or anywhere in between. Usually, these policies are triggered (start paying) when a person loses the ability to perform at least two normal daily life activities (transferring, bathing, toileting, dressing, eating and continence) and continue until either the policy expires or the services are no longer needed.
Who Needs Insurance for Long Term Care?
Everyone needs some life insurance, but the need for long term care insurance is greatest among the middle class. The reason for this is that the wealthy usually have enough income for this and the individuals with lower incomes are generally covered by public assistance programs. As with all insurance, we highly recommend speaking to a licensed insurance counselor before making any decision on an insurance policy of any type.
Middle Class and Concerned with Long Term Care? Contact us today! Toll Free: 1.855.224.3279 (855)-ABG-EASY
These Financial Management Services are Offered by The Abbott Bennett Group LLC.
Abbott Bennett is an Independent Advisor of The Estate Plan.
All annuities are products of the insurance industry and are not backed by any bank or insured by FDIC
Our insurance products may not be available in all 50 states.
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