Long Term Care Insurance
Why Long Term Care Insurance Matters in a Financial Plan
A variety of Long-Term Health Care options are available
A variety of Long-Term Care options are available:
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Nursing Homes
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Assisted Living Facilities
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Adult Day Programs and Care
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Community Services
Some are publicly funded and some require payment by the Long-Term Care recipient. Full-time residence in Victorian private facilities currently range in price from $2500-$6500 per month, depending on level of care required, daily duration and extent of service provided, etc. Long-Term Care Insurance Benefits are payable when it is determined that health or personal care is needed, usually upon certification by your physician.
Certification could result from injury or sickness, the inability to perform a predetermined number of activities of daily living, a cognitive impairment or any continued service that is required as a result of chronic illness. Coverage options vary. Long-term care contracts may include some or all of the following:
Eligible Services:
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Adult Day Care
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Hospice Care
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Respite Care
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Medical Equipment
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Bed Reservations
Daily Living Activity Qualifications:
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Eating
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Dressing
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Toileting
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Transferring
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Maintaining Continence
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Bathing
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Leaving the House
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Walking
Long-Term Care Insurance is a complex type of insurance. Hatch Muir Financial are Chartered Life Underwriters and Certified Financial Planners. We can provide you with advice and help you choose the right long-term care insurance for you.
