Long Term Care (LTC) Options
At any point in your life, you may need LTC services, which could cost hundreds of dollars per day. Understanding the different types of Long Term Care insurance is essential for successful financing of Long Term Care needs.
We know one solution doesn't work for everyone. The AGIS Network team specializes in finding LTC options that fit your budget, your needs, and help protect your family and future.
AGIS Network’s LTC Specialists are here for you.
Personalize an action plan to safeguard your family, finances, and future!
- Health and disability insurance do NOT cover LTC expenses.
- Often people wipe out their retirement savings and other assets to fund in-home care.
- Avoid relying on family, friends or neighbors for daily help and assistance which may not be adequate, convenient, or even possible.
- States are starting to propose, and some may potentially enact, legislation that creates new taxes for individuals if they do not own private LTC insurance.
- The sooner you apply, the better! Premiums are based on your age at application. Typically, the younger you are, the healthier you are, which makes it easier to be approved for coverage.
What is Long Term Care (LTC)?
We all might need a little extra help some day as the result of an accident, illness, or age. LTC insurance is designed to pay the cost of extended professional caregiving. Most LTC is non-medical, it includes assistance with activities such as taking a bath or moving from a bed to a chair or caring for someone with severe cognitive impairment.
That’s why having a plan in place is so important. It allows for paid/hired care at home. Your plan also helps with expenses should you need to move to an assisted living or memory care facility.
The Basics of Long Term Care Insurance
What is Permanent Life Insurance With LTC?
Many of us have group term life from our employer and potentially some “supplementary” group term life insurance. Those policies protect us for an “unexpected death” during our working careers. Permanent Life insurance is life insurance we take into retirement at the same cost as when we were working, but it is for our “expected death” late in our golden years.
Too many employees have no life insurance when they retire, this program solves that problem. We might not need as much life insurance as when we were working, but it is likely we want/need more than zero. And this policy will pay LTC benefits should those be needed and still maintain a death benefit that pays out later whether we use the LTC benefits or not.
Life w/LTC Insurance
The Basics of Short Term Care (STC) Insurance*
Like LTC, Short Term Care insurance plans help with home care, assisted living, nursing homes, and usually offer benefits for up to a year.
*Not Available in all statesMedia
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See What Others Are Saying
At 27 I was getting married, well entrenched in my career path, and making all the adult decisions in life. One of those decisions was to purchase a Long Term Care policy. I had no chronic conditions, no concerns about impending disease nor did I think I would need the policy until well into the future (like my 401k). At age 39 this dramatically changed. I couldn't write, my balance was off, and I was seeing double - this was diagnosed as Multiple Sclerosis. My early decision of preparing for the future meant I have total choice on how I receive care and it also means I do not burden those I love with care needs. If I had waited to purchase a policy until I was 40, I would have been uninsurable.
Laura S. OR