When Vernon Duckett first heard of long-term care insurance from his wife, Helen, he wasn’t enthusiastic, but his wife talked him into it. Years later when Helen was diagnosed with Alzheimer’s, Vernon was thankful they had purchased the coverage. Helen’s policy paid for the best possible care until her death at age 82 and has preserved Vernon’s financial independence.
Long-term care insurance provides for the type of care you may need if you can no longer perform “activities of daily living” by yourself, such as eating, bathing or getting dressed. It also includes the kind of care you would need if you had a severe cognitive impairment like Alzheimer’s disease. Care can be received in a variety of settings, including your own home, assisted living facilities, adult day care centers or hospice facilities.
This care can be covered completely or in part by long-term care insurance. Most plans let you choose the amount of the coverage you want, as well as how and where you want to use your benefits. A comprehensive plan includes benefits for all levels of care, custodial to skilled.
Some employers choose to offer this coverage to their employees as a part of their employee benefit package. We can also assist individuals in purchasing Long Term Care insurance individually if your employer doesn’t offer it.
With health care spending expected to double by 2015, prudent financial planning for long-term care insurance is needed. The Foster Group offers plans from a variety of companies. Long-term care (LTC) insurance is available in both individual and group policies.
Let The Foster Group help you find the right plan for your long-term care needs.