If a chronic illness, disability or cognitive impairment (such as Alzheimer’s disease) leaves you unable to care for yourself for an extended period of time, long-term care may be required. Whether it’s delivered in a nursing home, a hospice or in your home, this level of care can drain your personal assets, including your savings and retirement accounts, leaving no legacy behind for those you love.
Long-term care insurance can provide some options.
The cost of long-term care insurance is based on your age and health when you apply, as well as the additional benefits you select on your policy. The annual premium that you would pay for a policy purchased today may be significantly lower than what you would pay for a comparable policy purchased at an older age, or if your health declines.
By purchasing long-term care insurance now, you gain control over future health care decisions, including where you go for care. Many policies also cover assisted living, adult daycare and other care in the community, alternate care, and respite care for the caregiver.
Long-term care insurance can help give you control and peace of mind. If you believe you're at risk for an illness that may require long-term care, call us to explore your options, and the choices available to you.