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Long Term Care Insurance

Why Long Term Care Insurance Matters in a Financial Plan

People buy Long-Term Care Insurance to provide cash to fund the cost of nursing care at home or in a facility. This kind of insurance provides daily benefits to fund new expenses that result from a decline in health and the loss of independence.

A variety of Long-Term Health Care options are available

A variety of Long-Term Care options are available:

  • Nursing Homes

  • Assisted Living Facilities

  • Adult Day Programs and Care

  • Community Services

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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.

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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:

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Eligible Services: 

  • Adult Day Care

  • Hospice Care

  • Respite Care

  • Medical Equipment

  • Bed Reservations

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Daily Living Activity Qualifications: 

  • Eating

  • Dressing

  • Toileting

  • Transferring

  • Maintaining Continence

  • Bathing

  • Leaving the House

  • Walking

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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.

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We're here to help you plan ahead.

Let's plan for future care and independence

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