Long Term Care
Chances are you could live well into your 80s, your 90s and possibly even longer.
When you live a long life, the likelihood you’ll need long-term health care is greatly increased. Younger people also need long term care as a result of accidents or illnesses.
Almost 70% of people turning age 65 will need long-term care at some point in their lives1. Many people think the phrase “long-term care” refers to an insurance policy. While insurance may be part of your strategy, long-term care encompasses everything from long-term services and supports and finances, to where you will live and how you will navigate the myriad of legal, family, and social dynamics along the way.
Long-term health care is generally not covered by medical insurance, by Medicare supplement plans or group / employer insurance. For seniors on Medicare, the long-term care benefits can be quite limited.
That is why over 10 million Americans have purchased long-term care insurance1. We offer several LTC solutions including individual plans, asset-based long-term care, and life-insurance-based long-term care. We will work with you to find the best plan for your LTC needs.
WHY DO I NEED LIVING BENEFITS?
Why you should consider life Insurance that has living-benefits:
Statistics show that large numbers of Americans may become terminally, critically or chronically ill.
Every 40 seconds someone has a stroke
Every 34 seconds someone has a heart attack
The average cost of severe heart attack, including direct and indirect costs, is about $1 million
1 in 2 men and 1 in 3 women develop cancer in their lifetime
Chronic and critical illnesses may result in the inability to perform activities of daily living such as bathing or dressing yourself without help or assistance.
While most of us have health insurance, medical bills continue to be a leading cause of bankruptcy in the United States. Life insurance with living benefits provides the option to access the face amount and receive cash while the insured is alive.
Why is life Insurance with living benefits so popular?
Most life insurance policies only protect your family after you pass away. A life insurance policy with living benefits still does that but may also give you valuable access to cash while you are alive, and when the funds are most needed.