Stay In The Know About Long Term Care Coverage

Stay In The Know About Long Term Care Coverage

Stay In The Know About Long Term Care Coverage

What You Need To Know About Long Term Care Insurance Coverage

Long term care insurance policies are different from traditional health insurance plans in that they provide long term care including personal and custodial care in a wide variety of settings. If you are thinking about getting long term care insurance, here is some information you might find useful.

What does a long-term care policy do?

A long term care policy can reimburse the policy holder for a pre-selected daily amount, which can cover services to assist with the activities of daily living like bathing, eating, dressing, etc. There is a range of options and benefits that are available with long-term care that helps you to get the specific care you need.

How is the cost determined?

The cost of long-term care varies on a number of factors like:

  • Your age when you buy the policy.
  • The maximum amount the policy will pay per day.
  • The maximum number of days or years that a policy will pay.
  • Any optional benefits you choose that may increase with inflation.
  • Preexisting health conditions.

Different types of plans:

  • Individual plans: Most people buy long-term care coverage individually through an insurance broker. If you choose to do this, you need to make sure the broker you work with has training in long-term care insurance.
  • Employer-sponsored plans: Some employers may offer group long-term care policies or individual policies at a discounted price. These plans may also offer benefits to family members if they pass a screening. If you leave the employer however, these benefits are no longer provided. Delete entire sentence.

Contact Employee Benefit Plans Inc. in Greenwood Village for all of your Colorado long term care  insurance needs. Let us help you invest in your future with a great long-term care insurance policy.