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Do you need ltc insurance? Today, you're
healthy. But what about tomorrow? What if you or your spouse
become physically or mentally incapacitated? Long term care could
be required — that is, assistance with daily activities
like eating, bathing, getting dressed, toileting and transferring
— either in your own home or a nursing home.
To help protect the savings you've spent
a lifetime to build and to help maintain your financial independence,
consider LTC insurance coverage. It can make a lot of sense and
help give you peace of mind.
What To Look For
- At least one year
of nursing home or in home coverage, including intermediate and
custodial help. Nursing home or in home benefits shouldn't be
limited primarily to skilled care.
- Coverage for Alzheimer's Disease.
- An inflation
protection option.
- An "outline
of coverage" that systematically describes the policy's
benefits, limitations and exclusions, and also lets you compare
it with others.
- A guarantee that
the policy cannot be canceled, non-renewed, or otherwise terminated
because you get older or suffer deterioration in your physical
or mental health.
- The right to return
the insurance policy within 30 days for a full premium refund,
if after having received the policy, you decide that you do not
want it.
- No requirement that policyholders:
- First be hospitalized in order to receive nursing home benefits
or in home benefits,
- or -
- First receive skilled nursing care before receiving intermediate
or custodial nursing home assistance,
- or -
- First receive nursing home assistance before receiving insurance
benefits for in home assistance.
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