Personal Long Term Care Insurance

 

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A misconception for many people is that they do not need Long Term Care if they have Medical or Disability insurance. Long Term Care insurance provides benefits to help pay for the necessary care not generally covered by health insurance, Medicare or Medicaid.  Disability insurance helps protect you in case of a loss of income. At JayMar Insurance Agency, we explain the need for Long Care Insurance to you and help you develop solutions to protect you and your family on a long term basis should the need arise. We help you make the right decisions so that you can afford to pay for expenses resulting from your inability to perform your normal daily activities independently.

Long Term Care includes care, support and other services provided to a person who requires help with daily activities for a period of time expected to last at least 90 days. If you need assistance with everyday activities of daily living (ADL’s) such as bathing, dressing, eating, toileting, transferring (moving from a bed to a chair) or continence, you may qualify for benefits. To qualify for benefits, you must also have a loss of at least two or more ADL’s or be severely cognitively impaired.

Benefits can commence when you are in a qualified facility such as a nursing home, assisted living or adult day care facility or if you need assistance at home.

Funds to pay for this care must normally come from your retirement portfolio or assets, or from a family member if you have not made proper arrangements to pay for it.  We will meet with you to discuss the potential expenses of a long term hardship and begin to develop a plan to help pay for those expenses. Long Term Care can help to protect your assets and savings.

Long Term Care insurance can be arranged on an individual or a group basis.  Policies on an individual basis are subject to evidence of insurability. Group insurance benefits can often be offered on a guaranteed issue (G.I.) basis and the G.I. benefit level will depend on the number of employees enrolled and the benefit level chosen. Group coverage can be purchase on an employer paid basis, voluntary or a combination of both (employer paid plus employee buy-up voluntary benefits).