Long-Term Care Insurance

What is Long-Term Care Insurance?

Long-Term Care Insurance (LTC) is coverage that provides nursing-home care, home-health care, personal or adult day care for individuals age 65 or over, with a chronic or disabling condition that needs constant supervision. LTC Insurance offers more flexibility and options than many public assistance programs. Long-term care is usually very expensive. The reason for Long-Term Care Insurance is so that you don’t have to pay these extraordinary costs out of pocket.

What are the Pros and Cons of Long-Term Care Insurance?


Pros

  • Benefit Flexibility
  • Tax-Free Benefits and Tax Deductible long-term care insurance premiums
  • Affordable Premiums
  • Your family can be the care-managers rather than the caregivers


Cons

  • Long-term care insurance premiums are not guaranteed and may increase
  • Long-term care insurance benefits may never be needed
  • The long-term care insurance company may “go under”

What is a Hybrid Long-Term Care Life Insurance Policy?

Hybrid Long-Term Care Life Insurance Policies usually are funded with a one-time single premium up-front such as $50,000 or $100,000. Many hybrid policies also provide you the ability to elect your long-term care insurance benefits at the outset, i.e. benefit period, inflation protection and monthly benefit.

Annuities with Long-Term Care Coverage

If you don’t qualify for a Long-Term Care Insurance policy because of age or poor health or if you are already receiving long-term care, you can still purchase an annuity. The insurance company converts your single premium payment into a guaranteed monthly income stream for a specified period of time or for the rest of your life.

How Can American Integrity Insurance Solutions Help You with a Long-Term Care Insurance Quote?

American Integrity Insurance Solutions is an independent insurance consulting agency that partners with dozens of carriers to provide people with unbiased advice on a variety of insurance products.

Our team is readily available to craft a policy that custom fits to your needs. We promise to not only provide a policy fulfilling your specific needs, but also to help you understand how and what it protects you against.

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