Long Term Care
Long Term Care Insurance
Long-term care (LTC) insurance helps cover the costs of services like home care, assisted living, or nursing facilities. If you were to ever reach a point where you could no longer manage daily tasks such as dressing yourself, eating, or bathing, LTC insurance can provide essential support.
Cognitive issues, such as Alzheimer’s or dementia, can also make someone eligible for benefits. In these cases, LTC coverage helps pay for needed care while protecting your retirement funds. Since most health and disability insurance plans don’t cover long-term care, having a dedicated policy can be incredibly valuable.
The Cost of Long Term Care
Long-term care can be costly without insurance. In 2019, families spent roughly $66 billion out-of-pocket for dementia-related care, according to the Alzheimer’s Association—and that figure doesn’t include personal, undocumented expenses. Medicare typically doesn’t cover all the services required, and traditional health insurance often leaves gaps. That’s where LTC insurance can make a difference. Many begin looking into coverage in their 50s, though enrolling earlier may lower premium costs. Retirees with other insurance policies may also need to factor those into their planning. We’re here to help you explore all your options.
Why Consider LTC Insurance?
The biggest reason to consider long-term care insurance is to help protect your hard-earned savings. The cost of extended care—whether at home or in a facility—can drain retirement assets quickly. LTC insurance helps ensure you're financially prepared for those needs and gives you greater peace of mind for the future.