Long-term care insurance is a great way to ensure your family won’t struggle to pay for long-term care if you need it. Help with routine daily activities like bathing and dressing, home modifications, adult day care and assisted living are all very expensive services, and this type of insurance can give you peace of mind that your needs can be met without burdening your family.
Our Long-Term Care Policies
At Burton & Company, our long-term care policies can cover the costs of care needed when you have a disability, a disorder such as dementia, or a chronic medical condition. Most of our policies provide reimbursement for care that is administered in a variety of places, including:
- Your home
- An adult daycare center
- An assisted living facility
- A nursing home
Keep in mind that you will not qualify for long-term care insurance once you have developed a debilitating condition, so it is important to have it in place before your health changes. Many people with long term care insurance buy it when they are in their 50s or 60s.
Most long-term care policies will provide benefits when you are no longer able to do at least two out of six daily living activities on your own, or if you suffer from cognitive impairment such as dementia.
The activities of daily living are:
- Eating
- Dressing
- Getting on or off the toilet
- Caring for incontinence
- Bathing
- Getting in or out of bed or a chair
The Benefits Of Long-Term Care Insurance
Here is a look at some of the biggest benefits of long-term care insurance.
Protecting Savings
Long-term care expenses could deplete your retirement savings as the costs of some types of care can be more than many people’s salaries.
More Choices
When you have more money available to spend on care, you will have more choices when it comes to the type and quality of care you receive.
The Cost Of Long-Term Care Insurance
The rates you will pay for long-term care insurance depend on factors such as:
Your Health And Age
The more health problems you have and the older you are, the more you can expect to pay for a long-term care insurance policy.
Gender
Women tend to live longer than men, which means that they have a higher chance of making long-term care insurance claims and therefore pay higher premiums.
Marital Status
Premiums tend to be lower for married people than for those who are single.
Amount Of Coverage
One way you can control the costs of this type of insurance is by adjusting the coverage. More thorough coverage with higher limits on daily and lifetime benefits and cost of living adjustments for inflation will come with higher premiums than basic policies.
Get Long-Term Care Insurance With Burton & Company
We know you want to enjoy as many years as possible with your loved ones — but you don’t want your longevity to pose a financial burden. Reach out to Burton & Company by phone at (888) 652-1325 or request a quote online to find out how long-term care insurance can give everyone peace of mind that your needs will be met as you age.
