Long term care insurance is a form of insurance only found within the United States and the United Kingdom. This has been rapidly growing in the past years throughout the United States. The downside is that coverage costs can become very expensive, mainly when customers wait till the last minute to purchase long term care insurance.
Long term care insurance saves you from having to rely too much on your family for financial help or physical assistance. It covers personal care assistance from licensed health care and home care professionals that you can receive at home as well as in care facilities. This protection ensures that the time you spend with your loved ones is more rewarding and enjoyable.
Long term care insurance enables care givers to spend more “quality” or companionship time with disabled elders rather than having to provide hands on assistance with such activities as bathing, using the toilet, and other personal care tasks.
Long term care insurance offers various services that would surely satisfy and fit the needs of its consumers, but its complex features make it more troublesome for consumers to pinpoint which exact coverage they need. Insurance companies come up with innovative features or riders to create certain brand identity and distinguish themselves from the rest. Competition in the market is tough; companies will do everything to make their products stand out and make them uniquely different.
Long Term Care Insurance Deductions From Income: You can add long term care expenses paid for both qualified long term care services and premiums you pay for qualified long term care insurance products to your medical expense deduction on your Schedule A of your IRS form 104.
With long term care insurance, you are covered in many areas. These include, but are not limited to adult day care, respite care, nursing home facility costs, Alzheimer’s facilities, hospice care, home care, and assisted care.
Buying one’s long term care insurance policy is indeed one of the most important and most beneficial personal investment that they can reward themselves after all the years of hard work and perseverance. Through their insurance plans, they can assure themselves, as well as their loved ones, that they will receive and get all the LTC services that they would need.
For more details on Long Term Care Insurance, please refer to this Wikipedia article.
At Choice Plus Benefits, our insurance agents specialize in selecting the right Long Term Care Insurance Policy for you and your family. Please give us a call. We are happy to help you.
Long Term Care Policy Coverage
Definition: Care that lasts six months or longer is considered Extended Care or Long Term Care.
- Coverage begins on Day One.
- Length of Coverage can last six months up to unlimited coverage.
- Cost for Long Term Care insurance is moderate and determined by age and health.
- Value of Coverage HIGH
- Companies Rating HIGH
Check your existing plan, most offer little or no coverage should you have a need for an Extended Facility stay. We recommended Basic Coverage for Assisted Living and Custodial Care. You may also add Home Health Care and Alternative Care to all plans.
After 5pm, please call this number 972-567-5695.