Long Term Care

You may need some help taking care of yourself in the future. The question is: How will you pay for it?

The answer could be long-term care insurance. Long-term care insurance covers a range of services that aren’t regularly covered by Medicare and other forms of health insurance. This includes services that involve assistance with routine daily activities.

If you feel you may need long-term care later in life, you should consider purchasing long-term care insurance. Here’s what you need to know before shopping.

What Is Long-Term Care Insurance?​

Long-term care insurance policies cover the costs of care if you have a chronic medical condition, disability, or disorder that leaves you requiring long-term care. Most policies will reimburse the insured for the care given in various health care facilities, such as:

  • Your home
  • A nursing home
  • An assisted living facility
  • An adult daycare center

Who Needs Long-Term Care Insurance?

If you have a long-range financial plan, you need long-term care insurance. A chronic condition or injury that requires long-term care can lead to a large amount of medical bills quickly. This can dramatically impact your retirement plans, forcing you to work for longer. Waiting until you need coverage to buy it isn’t a good option because, at that point, you won’t qualify for long-term care insurance.

Why Buy Long-Term Care Insurance?

Regular health insurance doesn’t cover long-term care. Medicare doesn’t cover it either. With this in mind, long-term care can cost tens of thousands after just six months. Long-term care insurance protects you from depleting your retirement savings. It also gives you more options for care if you’ve incurred a debilitating illness or injury.

Compare Long-Term Care Insurance Options

You need long-term care insurance to protect yourself from sudden medical bills. We can help you find a plan that works for you. Call Alite Financial Professionals to start shopping for coverage today.

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