Although it may be hard to picture it, there are chances that you will need help taking care of yourself later in life. Long-term care insurance helps you prepare for the days when you need assistance with routine daily activities, such as getting dressed, bathing, and getting in and out of bed. Many people get long-term care insurance in their mid-50s to mid-60s. Don’t wait until you truly need it; if you already have a debilitating condition, you will not qualify. 

Why Should I Get Long-Term Care Insurance?

About half of 65-year-olds will eventually develop a disability and need some long-term care services. Regular health insurance does not cover long-term care, and neither does Medicare, which only covers short nursing home stays or limited home health care when you need rehab or nursing. People invest in long-term care to protect their savings and to have more choices for care. If you have to rely on Medicaid, your choices are limited to nursing homes that accept payments from the government program. 


How It Works

Under most long-term care policies, you are eligible for benefits if you can not do at least two out of six “activities of daily living” on your own, or if you suffer from dementia or another cognitive impairment. The activities of daily living are as follows:

  • Bathing
  • Caring for incontinence
  • Dressing
  • Eating
  • Toileting (getting on or off the toilet)
  • Transferring (getting in or out of bed or a chair)

You choose the amount of coverage you want. The policy starts paying out after you are eligible for benefits and usually after you receive paid care for that period. Most policies pay up to a daily limit for care until you reach the lifetime maximum. Contact our team today for long-term care.

Alexander Financial Services

Alexander Financial Services was first established in 2009 and has since then been a client-driven business that is dedicated to helping our Greenville, NC clients get the insurance coverage they need. If you are interested in learning more about our versatile insurance options, don’t waste another moment. Whether you’re in the market for health insurance or long term care, you can rely on our certified agents to develop the perfect policy at the perfect rate. If you have any additional questions, be sure to contact David Alexander today!