Long-Term Care Insurance
A plan for yourself, a gift to the ones you love most.
For Your Loved Ones
A Plan for the Future
We’re all living longer lives. And with longer life expectancies comes the need to plan ahead.
Ensure that you are taken care of later in life with a plan that will help minimize the burden on those who love you.
Aging will affect all of us. Don’t allow an unplanned–but predictable–risk to occur without having a long-term care policy.
Expect the Unexpected
What is Long-Term Care Insurance?
Long-term care is the care you may need if you are unable to perform daily activities on your own. It includes a range of services that are intended to help you maintain your lifestyle as you age. These services are generally not covered by regular health insurance or Medicare.
At Carmel Bay Group, we want to help clients think ahead and consider the consequences of needing extended care.
What Does Long-Term Care Insurance Cover?
- Care you receive in your home to remain independent
- Social and support services that are offered in a community setting
- Personal care and supervision in an assisted living or nursing home setting
Let’s create a solution that allows your family to take care of you without them having to put their own families and careers on hold.
Anticipate Your Needs
Why Should You Consider Long-Term Care?
Unless you have a plan, you’ll probably turn to family members or friends if you need help and caregiving. Unfortunately, your needs may quickly exceed their ability to help. This is where a long-term care policy fits into your financial plan.
A long-term care policy will allow you to get the care you need in the setting that’s right for you. Having an insurance policy means you can lift the heavy burden off your family without depleting your life’s savings.
Types of Long-Term Care Insurance
There are two main types of insurance policies that help cover long-term care expenses.
Traditional long-term care insurance policies are generally the most affordable solution for protecting against long-term care. The policies allow you to customize the amount of coverage and the benefit period that best fits your needs. In addition, you can add optional benefits such as inflation protection or shared care that generally are not available on the other type of policy.
Hybrid long-term care plans are policies that combine two types of coverage under one policy— life insurance and long-term care. Combination policies are ideal for people who want life insurance and need protection against the risk of long-term care.
The advantage of this type of policy is that if you never need long-term care insurance, your family will receive the full life insurance benefit. While it doesn’t have all the bells and whistles of a traditional long-term care policy, it definitely has its advantages and addresses the financial risk of needing extended care.
Long-Term Care Insurance - The Cost of Not Having It
The price of not investing in a long-term care policy could impact your life at the worst possible time. And not just financially.
The average cost of care is over $120,000 a year, but it goes way beyond the dollars.
Even the strongest of families are shaken when they have to confront the reality of a parent who needs care to live their everyday life.
No matter how willing our family may be, caregiving places a serious burden on our loved ones and the ones they love. Give them a plan and the strength to meet this challenge.
Here when you need us