Many people have different ideas about what long-term care insurance really is all about. With certain misconceptions floating around, it’s easy to understand why some consumers have negative opinions about this type of insurance and what it provides to the policy owners and their families.
We have a list of five things that you probably don’t know about long-term care insurance. After you read our list, you may want to get this type of insurance for yourself!
- Long-Term Care Benefits are Flexible
When you are considering your future and all the services that you may need as you age, flexibility should be a top priority. With long-term care insurance policies, you can often use the available insurance to cover costs for items that will make you and your loved ones’ lives safer and more fulfilled. For instance, you can install a lift chair or hospital bed right in your home. With more flexibility, you can use your benefits for items and services that can make your daily activities more easily accomplished.
- It’s in Your Hands
Long-term care extends beyond coverage for nursing home care and other outside facilities. Unfortunately, there are many who believe that long-term care insurance is only for care that is received outside of the home, and they fear that they will lose control of their care preferences, if they exist at home. The truth is, this type of insurance provides many home care options for those individuals who want to “age in place.” This covers at home aids, adult day care, hospice centers, and other assisted living facilities, so insurance owners can choose what they kind of care and living situation they prefer.
- Caregivers Get Support
Caring for a loved one can require a lot of time and money. Long-term care insurance recognizes the increasingly important role that these care givers play in the lives of those family members and friends who require their support. To help ensure that care givers are properly trained and can provide the best care possible, policies can even provide training services to these care givers. Some policies even take a step further by recognizing family caregivers, and even family friends who provide care, as informal caregivers, making their time and services reimbursable under the policy.
- Shared Care
If you and your spouse are looking for insurance coverage that will give you and yours the peace that comes from knowing each of you will have coverage if previous benefits are maxed out, then long-term care insurance may be just right for you. There is an option under long-term care benefits called “shared care” that is offered by most long-term care policies. This works by allowing couples to share their coverage, so if one partner uses all of his/her benefits, then the other partner’s benefits can be transferred to the partner in need of coverage.
- Age Doesn’t Matter
Oftentimes consumers are late in getting quotes and information about long-term care insurance, because they think that you must be in your elder years to consider this type of coverage. In-fact, this type of insurance is best applied for when the applicant in younger. Insurance providers look at both age and health when considering the coverage, benefits, and cost that a recipient is qualified for, so the sooner you start seeking out options, the better. Additionally, accidents and illnesses can happen at any age and include the need for extended personal care. Planning ahead can really pay off.
Long-term care insurance can provide coverage to you or your loved ones when you need it most. At Landau Insurance Brokers, Inc. we help you find the best insurance, suited to your long-term goals and needs. With over 22 years of experience, our state certified agency, based in Los Angeles, California, helps customers find their best long-term insurance plans. We provide life, long-term, and disability insurance coverage options and advice, so you can find the plan that’s just right for you. Let us know how we can help you plan for your future today!