Long Term Care Insurance
Long term care insurance coverage is different from traditional health insurance. Long term care is designed to cover long term services and support when a person is aged or not able to take care of certain day to day functions. Long term care insurance can reimburse policyholders for services assisting with daily activities, such as bathing, dressing, and eating.
Many people wonder if they really even need long term care insurance. There are many options to consider. Family members or friends may be willing to provide for some of your care as you age, but is that something you want to rely on? It can take a toll emotionally and financially, and can drain precious assets. Most people do not want to even think about going into a nursing home. With long term care coverage, it can provide a measure of peace of mind when you need it the most. Long term care insurance can cover in-home care, residential care facilities, and full-time care depending on the type of coverage you decide upon.
When is the best time to purchase Long Term Care Insurance?
The optimum time to purchase long term care insurance is while a person is still considered young and in good health. While you are not “locked in” to a set premium with long term care insurance, it is still advantageous to purchase at a younger age so as to get a better premium rate. The benefit of doing this is that as premiums increase, they increase from the rate you originally purchased your long term care coverage.
Long term care policies have certain limitations. These include how much and how long a policy will pay the costs for you. Some policies will pay for two to five years of long term care, while others may pay for care as long as you live if needed.
Why contact Stream Benefits Group Insurance about your long term care insurance?
Stream Benefits Group can review with you the many long term care options and needs. Since we are centrally located in the St. Louis, Kirkwood area, we are keenly aware of the costs and issues surrounding the need for long term care coverage. Call us today and we will be happy to review your options and needs for long term care insurance.