Long Term Care
Objective: To provide financial protection for the high cost of long-term care services, such as nursing home care, assisted living facilities, and home health care.
Types of Long-Term Care
Traditional long-term care insurance
- Covers a specific amount of coverage for long-term care services
- Standalone policy specifically designed to cover long-term care expenses
- Premiums are typically lower but may increase over time
- Benefits are used exclusively for long-term care expenses
Traditional long-term care insurance
- Covers a specific amount of coverage for long-term care services
- Standalone policy specifically designed to cover long-term care expenses
- Premiums are typically lower but may increase over time
- Benefits are used exclusively for long-term care expenses
Hybrid long-term care insurance
- Combines long-term care with another financial product such as life insurance or an annuity
- Offers a death benefit if long-term care is never needed
- Benefits are used for long-term care, death benefit, or cash value accumulation
By proactively planning for long-term care, you can ensure that you have access to the care you need without jeopardizing your financial security or sacrificing your desired lifestyle in retirement.
