LONG TERM CARE INSURANCE

There are many statistics that surround the cost of Long Term Care - but the basic premise is that it's expensive! You can receive care in an assisted-living facility, or from your own home - depending on how much money you want to spend.
Medicare does NOT cover long term care expenses.
Long Term Care Insurance will pay out based on a daily benefit amount purchased in the policy. It is typically activated when you can't perform 2 out of 6 Activities of Daily Living (ADL's): eating, dressing, bathing, toileting, transferring (walking), and continence. For example, if you can't walk and you also can't bathe, your policy may pay out a $200 daily benefit. You then have a choice of going to an assisted living facility or paying for care in the comfort of your very own home. If the cost is over your daily benefit amount, you will be responsible to pay the difference.
If you don't have any long term care insurance, you will be responsible for the entire amount. There is much more to consider, but we have experts that can take the time to show you all of the options. If you want to do proactive planning - it's time to make a move. #MoveToFLiP

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Blog Post

Jun 08, 2017 @ 8:42pm

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Should I “buy term insurance and invest the difference”?

The best answer to this age old question is…. “maybe”. I hear these type of phrases often, but the fact of the matter is that statement is too generic for…

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