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Long Term Care

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Since the inception of long term care policies in the 1980 their popularity has not only increased but covered services has been modified + varied

One fact remains

The Sooner you start the less expensive and more value you can secure for yourself. Some Policies can be designed to return the premium you pay to your heirs should you not use your plan. Now that, would be a great legacy to anticipate – and for which to plan!

These plans are strictly regulated and it’s important for you to call us so we can explain the many details.

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Options of paying for long-term care expenses

Self-Insure:

For an individual with substantial retirement income and liquid assets, self-insurance may be an option however it will impact the allocations of your income flow & assets. The majority of individuals and families are not in a position to self-insure.

Self-insuring or leveraging your cash or single premium contribution plans, For example: life insurance/long term care/guaranteed return of premium, allow Individuals to retain wealth and individuals business owners to leverage their own liquid cash to fund for an extended long term care event. Some policies also guarantee your premium contributions returned on a vested schedule up to 100% after 5 years, in the event you decide to quit and cancel the plan.

Medicare / Medicaid:

Medicare will only pay for the first 20 days of skilled nursing care if you were in the hospital for a minimum three-day stay (not counting discharge day) and you require skilled care and your condition is restorative (you are getting better/improving) usually but to qualify the patient must spend down assets & have a very limited income.

Long Term Care Insurance (LTCI):

LTCI is designed to help cover the costs of long-term care to protect assets and assure more choices about the types and quality of care (personal/skilled & at home care, residential/assisted living care, skilled nursing care). These premiums are paid over the lifetime of the insured.

Life Insurance, Annuity Policies with LTC Insurance:

Another option to provide some financial assistance are life insurance and annuity policies with a LTCI rider for LITC services. Some of these policies with a LTC rider provide a valuable “Care Coordinator” for your family in the event you or a loved one needs care.

Options of paying for long-term care expenses

Have you ever been diagnosed with:

  1. Alzheimer’s disease or Dementia, or taking any medication for memory loss?
  2. Emphysema, chronic obstructive pulmonary disease (COPD) or congestive heart failure?
  3. Parkinson’s disease, multiple sclerosis, or muscular dystrophy?
  4. Rheumatoid arthritis or taking methotrexate, prednisone, enbral or remicade or joint pain?
  5. Osteoporosis that is untreated or with a history of compression fractures or height loss of two inches or more?
  6. A Stroke (without full recovery and less than 10 years ago) or Multiple Strokes, Transient Ischemic Attack (TIA) within the last 24 months or multiple TIA’s, a heart attack, heart or carotid artery surgery within the last 6 months.
  7. Cancer (other than non-melanoma skin cancer) within the last 6 months? Some will decline if within the past 12 months

Are You:

  1. Currently being treated for a medical condition or having medical treatment, a pending consult or surgery recommended but not yet completed?
  2. On Kidney Dialysis?
  3. Using Oxygen for any reason?
  4. The recipient of an organ transplant?

Do You:

  1. Use a quad or stabilizing cane of any variety, walker, wheelchair on a regular or intermittent basis?
  2. Take any narcotic drug or prescription pain medication on a regular basis?
  3. Have an implantable defibrillator?
  4. Currently collect disability benefits?
  5. Have a handicap permit?
If any questions are answered YES, you would more than likely will NOT qualify for Long Term Care insurance or a Long Term Care rider on a Life or annuity product, unless guaranteed underwriting (large groups only) is offered by the carrier.

Client Information 1

MM slash DD slash YYYY
Gender
Do you smoke?
Current Status
Registered Domestic Partner means a pair of adults who have registered themselves as domestic partners in accordance with state law.**Partner means the one adult person who: (a) shares a serious and committed personal relationship with you that is intended to be lifelong; (b) has shared a common permanent residence with you on a continuous basis for the most recent three years; (c) is not legally married, a registered domestic partner, or in a committed personal relationship to anyone else; and (d) is not related to you in any way that would bar marriage in the state where you and he or she reside.

Client Information 2

MM slash DD slash YYYY
Gender
Do you smoke?
Current Status
Registered Domestic Partner means a pair of adults who have registered themselves as domestic partners in accordance with state law.**Partner means the one adult person who: (a) shares a serious and committed personal relationship with you that is intended to be lifelong; (b) has shared a common permanent residence with you on a continuous basis for the most recent three years; (c) is not legally married, a registered domestic partner, or in a committed personal relationship to anyone else; and (d) is not related to you in any way that would bar marriage in the state where you and he or she reside.