What is Long Term Care Insurance?
Familiar with traditional health insurance, people often wonder what is long term care insurance or ‘LTC insurance’? Long term care insurance is a specially-designed insurance product that helps you cover long-term health services and support. A long term care insurance policy will pay out benefits for care received at home, adult day care centers, assisted living facilities and nursing homes. As independent brokers who represent all the major providers, Schneider & Shulman Associates can help you decide which company and policy best fit your needs.
Long Term Care Is Not Medical Care
Almost everyone believes the chances of ending up in a nursing home are remote. But please don’t confuse that with growing old and needing care. Different from medical care, Long Term Care assists a person with normal daily activities they can no longer manage. Whether your need is due to age, injury or disability, long term care insurance provides daily and/or monthly benefits to pay for the necessary care not generally covered by health insurance, Medicare or Medicaid. At Schneider & Shulman Associates, our goal is to provide you with a long term care insurance solution that consists of a ltc policy that allows you to pay an affordable premium to protect yourself in case of an unaffordable catastrophic event.
LTC insurance benefits are triggered by the inability to perform two or more activities of daily living (ADLs) such as toileting, bathing, dressing, eating, transferring (getting from one point to another without falling) or continence. A cognitive impairment, which can include problems with memory, perception, problem solving and conceptualization, can also trigger benefits if it leads to a requirement for substantial assistance. Your own doctor is the one who certifies that care is needed.
Preserve Your Lifestyle and Well-being With Long Term Care Insurance
You may never need long term care, but if you do and you’re unprepared, the consequences to your family and retirement portfolio can be catastrophic. Schneider & Shulman Associates encourage you to consider Long Term Care Insurance as a means to preserve your lifestyle, your estate and your family’s well-being.