Long Term Care
Long Term Care
For most of us, living a long life means spending more time with the people we love and doing the things we enjoy. Planning ahead can help make those dreams come true. Nearly three-quarters of Americans who reach the age of 65 will need long-term care at some point, according to the U.S. Department of Health and Human Services.
Unfortunately, home care can cost up to $40,000 annually, and institutional care may cost more than $75,000 a year. At these prices, your retirement savings can easily be drained, leaving you and your loved ones struggling to make ends meet. Health insurance and Medicare do not cover the kind of long-term care most people eventually need. Medicare does not cover Long term care insurance can.
Long term care insurance can provide you with the services you may need and protect your and your family’s finances. Policy premiums are usually based on your age and health status, so planning early and purchasing the right policy can help you preserve your options as you age. If you wait and develop a serious health condition, you may not be able to obtain the insurance you want at a price you can afford.
If you cannot purchase a comprehensive policy, purchasing even a modest policy can help preserve your savings, retirement accounts and other assets and keep your family’s finances more stable. Many types of long term care insurance policies are available today. Give us a call, and our insurance professionals will help you learn more about your options.
Bankers Life SimpleChoice Fundamental
For most of us, living a long life means spending more time with the people we love and doing the things we enjoy. Planning ahead can help make those dreams come true. Nearly three-quarters of Americans who reach the age of 65 will need long-term care at some point, according to the U.S. Department of Health and Human Services.
Unfortunately, home care can cost up to $40,000 annually, and institutional care may cost more than $75,000 a year. At these prices, your retirement savings can easily be drained, leaving you and your loved ones struggling to make ends meet. Health insurance and Medicare do not cover the kind of long-term care most people eventually need. Medicare does not cover Long term care insurance can.
Long term care insurance can provide you with the services you may need and protect your and your family’s finances. Policy premiums are usually based on your age and health status, so planning early and purchasing the right policy can help you preserve your options as you age. If you wait and develop a serious health condition, you may not be able to obtain the insurance you want at a price you can afford.
If you cannot purchase a comprehensive policy, purchasing even a modest policy can help preserve your savings, retirement accounts and other assets and keep your family’s finances more stable. Many types of long term care insurance policies are available today. Give us a call, and our insurance professionals will help you learn more about your options.
Long Term Care
For most of us, living a long life means spending more time with the people we love and doing the things we enjoy. Planning ahead can help make those dreams come true. Nearly three-quarters of Americans who reach the age of 65 will need long-term care at some point, according to the U.S. Department of Health and Human Services.
Unfortunately, home care can cost up to $40,000 annually, and institutional care may cost more than $75,000 a year. At these prices, your retirement savings can easily be drained, leaving you and your loved ones struggling to make ends meet. Health insurance and Medicare do not cover the kind of long-term care most people eventually need. Medicare does not cover Long term care insurance can.
Long term care insurance can provide you with the services you may need and protect your and your family’s finances. Policy premiums are usually based on your age and health status, so planning early and purchasing the right policy can help you preserve your options as you age. If you wait and develop a serious health condition, you may not be able to obtain the insurance you want at a price you can afford.
If you cannot purchase a comprehensive policy, purchasing even a modest policy can help preserve your savings, retirement accounts and other assets and keep your family’s finances more stable. Many types of long term care insurance policies are available today. Give us a call, and our insurance professionals will help you learn more about your options.
Fundamental of long term care
Comprehensive and facility only long-term care insurance
Bankers Life Simple Choice” Fundamental
The care you may need. The choices you want.
When you’re recovering from an injury or iliness, it’s comforting to know that you have choices when i comes to your care — including the option to receive care in the privacy of your own home. Bankers Life SimpleChoice Fundamental, long-term care insurance, provides protection designed specifically for home and facility care needs lasting one year or less.
Home care
Covers care, services and supplies from qualified
home healthcare providers.
- Visits by:
- Home care aides
- Nurses
- Physical, occupational and
speech therapists - Nutritional specialists
- Medical social workers
- Charges related to your home care:
- Transportation to and from medical appointments
- Domestic cleaning and laundry services
- Home delivery of meals from an official program
- Food shopping, running errands, meal preparation and clean-up
- Rental of a wheelchair, hospital bed
and cther durable, portable therapeutic
sguipment up to the purchase price
Adult day care
Covers services at a qualified adult day care facility.
- Transportation to and from the facility
- Meals provided by the facility
- Social, recreational and educational events designed to improve your functioning and level of self-awareness
Facility care
Pays for care, services and supplies in all covered
facilities, for example:
- Nursing facilities
- Alzheimer’s facilities
- Residential care facilities
*Adult day care benefit and home care benefit are included in the comprehensive pian only.
Additional features and benefits
Customize your policy with features and benefits that fit your unique long-term care needs.
Hospice carer
Reimburses up to the maximum monthly benefit
amount for covered hospice care services. Included
only on the comprehensive plan.
Bed reservation
Reimburses up to the maximum monthly benefit
amount for up to 21 days per year.
Guaranteed renewability
Ensures that if you pay your premiums on time,
your policy will remain inforce with no premium
increases unless rates increase on a class basis.
Restoration of benefits
Restores all of your policy’s benefit amounts, except
the lifetime maximum benefit after 365 days of
not having at least two (2) Impairments in the
Activities of Daily Living or cognitive impairment. The
lifetime maximum benefit is the maximum amount
of benefits that can be paid for the insured for all
covered expenses for all period expenses. This
amount is equal to 2 times the maximum benefit
amount for any one period of expense.
Optional inflation protection Available at an additional cost)
Offers 5% compound annual inflation protection at an additional charge to help your policy keep up
with increases in the cost of living.
Non-forfeiture benefit rider (Avlabie 21 2n additonal cost)
Continues long-term care coverage, if your policy
lapses, with a new lifetime maximum benefit Amount
that is equal to either the sum of all premiums paid
or 80 times the maximum daily benefit amount,
whichever is greater. Eligibility begins after ten
policy years.
Respite Care
Provides 100% of the maximum daily benefit
amount for 21 days each benefit year to pay for
professional care if the relative or friend caring
for you without charge needs a temporary break.
*Hospice care and Respite care benefit are included in the comprehensive plan only.
Key components when selecting your plan
Maximum daily benefit amount
The maximum dollar amount your plan pays per day for your home care, aduit day care
or facility care. Choose from maximum daily benefit amounts of $50 to $250 per day.
Elimination period/deductible
Similar to a deductible, the number of days you must pay for covered care before your plan
begins to pay benefits. An elimination period may last 15 or 30 days.
Benefit multiplier
The length of time your plan will cover your care, which may last up to 365 days.
Available options vary by age.
Don’t waste your time online!
Give us a Call Now.
Book Your Free Consultation Today!
