Long-Term Care Insurance: Insurance For the Living

Most of us know that life insurance covers us after we die but offers little protection to us as we age. These policies help our families cover expenses when we are not around but do not protect our families as our needs and physical capabilities change. Something you may be less familiar with is a type of insurance called Long-term Care Insurance. Long-term Care Insurance covers you if you become chronically ill or disabled and are unable to care for yourself for an extended amount of time.

Here are some things to consider:

– Neither health insurance nor Medicare will pay for extended care services.

– A home health aide visit costs about $19 an hour, which equals just under $40,000 a year for someone who has a home health aide come assist them 8 hours a day, 5 days a week.

– Long term care insurance is not just for the elderly, people of all ages are in accidents or suffer from a debilitating illness’ and may require around the clock care. 40% of patients receiving long-term care are under age 65.

If you develop a chronic illness or become disabled and can no longer care for yourself for an extended period of time, you’ll need long term services. Long-term care insurance covers many services, from care in your home, nursing home care, assistance with things like transportation to physical therapy appointments or making modifications to your home to help you get around better.

If you are interested in finding out more about Long-term care insurance you can speak with our Certified Insurance Counselor Joe Soares. Call (508) 473-0556 or email Joe at Jsoares@brightinsurance.com for a no obligation consultation.

More information can also be found at AARP.org/health or Lifehappens.org