Long Term Care Insurance

“After age 65, Americans have more than a 70% chance of needing some form of long-term care.”
-American Society on Aging 5/23/2003

Long Term Care is not restricted to nursing home care rather it is a variety of services: that includes both medical and non-medical care to people who have a chronic illness or disability. Long-term care helps meet health or personal needs. Most long-term care is to assist people with support services such as activities of daily living like dressing, bathing, and using the bathroom. Long-term care can be provided at home, in the community, in assisted living or in nursing homes. It is important to remember that you may need long-term care at any age.

Determining how you and your family will pay for these costs is important to do prior to needing the services. At an average rate of over $100 per day, proper planning will eliminate the stress of dealing with the expense and allow for more choices when the services are needed.

One option to protect your financial wellbeing is Long Term Care Insurance (LTCI). This option gives you protection against the cost of Long Term Care as well as more choices during the time of care. LTCI coverage can vary greatly based on your requests.

Factors that go into underwriting are: age, health, coverage applying for and company applying with. Good health is significant to getting approved, therefore it is important to purchase such coverage at a time when you are healthy.

At PGI we work to educate consumers on the options available to allow you to make the best choice for your situation. You will be provided a comparison of the coverage, companies, and premiums to assist in the decision. We invite you to contact us to discuss LTCI in greater detail.