Life Insurance with Long Term Care
The AFE Plan with Lifetime Benefits
Conditional Guaranteed Issue acceptance available acceptance to $150,000+
Plans starting at $25/mo
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What is Long Term Care and Who Needs It?
Long-term care refers to assistance with medical or personal needs over an extended amount of time. Close to 70% of people turning 65 today will need long-term care at some point in their life, making it an issue that touches almost every household. And while many people will be affected by the need for long-term care, not everyone takes advantage of long-term care insurance to help with the costs. However, long-term care is a considerable expense, and many people can't afford to cover the entire costs out-of-pocket. Traditional employer-based health insurance won’t cover extended daily care, and in general, health insurance only pays for doctor and hospital bills. Long-term care insurance (LTCI) can help offset the expenses of long-term care needs.
Long-term care insurance (LTCI) is a type of insurance policy that helps individuals pay for long-term care services, such as home healthcare, nursing home care, and assisted living. It is designed to cover the costs of long-term care services that are not covered by traditional health insurance policies or Medicare.
LTCI policies typically provide coverage for a set amount of time or up to a specific dollar amount. The policyholder pays monthly premiums in exchange for coverage, and if the policyholder needs long-term care, the policy will pay for a portion of the costs.
The cost of long-term care insurance depends on several factors, including the individual's age, health, and the level of coverage needed. It is important to note that LTCI policies may have exclusions or limitations, such as pre-existing conditions, so it is important to review the policy carefully
Long-term care insurance is designed to help individuals protect their savings and assets from the high costs of long-term care services. It can provide peace of mind for individuals who are concerned about the financial burden of long-term care and want to ensure that they have access to quality care when they need it.