Long term care insurance Arizona
Choosing the right long-term care insurance can be the most important retirement planning you do. You hope, as with all other types of insurance you buy, you never have to use it. The difference with long-term care insurance is that there is a much greater chance of using it than your homeowner, car, or even a catastrophic health event. Statistics show that more than half of the 65-year-olds will need long-term care at some point in their lives. So if you buy long-term care insurance, there is a very good chance that one day you will use it.
Let us take a look at what LTC insurance Arizona will do for you and your family. This type of insurance covers the care of someone who needs help with basic tasks of daily life such as bathing, dressing, and eating. With long-term care insurance, this type of help can be provided in your home. Long term care Insurance Arizona is not just “nursing home” insurance as many people think. Most long-term care guidelines cover the cost of supervised living facilities, home care, in addition to traditional nursing care.
Today, less than 15% of long-term care is in a nursing home. Using long-term care insurance is exactly what you need to keep you out of a nursing home so that you can get care at home. Would most people not stay in their own homes with their families as long as they can?
Long-term care is expensive. According to Met Life’s Mature Market Institute, nursing care runs an average of $ 213 per day or $ 77,745 per year, an assisted living facility is about $ 2969 per month, home health AIDS $ 20 per hour, housewife/companions $ 18 per hour Adult day services $ 64 a day. The fact is that worse than the need for long-term care is not able to afford it.
It is important to remember that you do not need long-term care for perhaps 20-30 years. In this sense, you need to consider the rate of inflation and how much long-term care will cost you at the time when you begin to get care. In twenty years, $ 213 per day will be $ 564 per day. So you can have the means to cover the cost today, but you will have enough to cover the cost of care twenty or thirty years from now.
Long-term care plans offer inflation protection, which in the future allows the increased costs. It is highly recommended that you include the inflation protection in your plan unless you buy a plan in your 70s or older. Long term care insurance seems expensive, but compared to what? You can easily save money when you buy a policy while you are younger and in good health. If your health is bad, you can not qualify for long-term care insurance at any price.
It is important to consult with a long-term care specialist who is independent and does not show any prejudice against a company. He/she will be able to guide you to the company which will provide you the best coverage at the best price. Do not forget to apply for the discounts you qualify for such as marriage or partner discount, preferential health, and apply together as a pair discount.
You can get great on long term care and long term care insurance From These companies in Arizona
mutual of Omaha long term care
Long-Term Care insurance may be right for you if …
You intend to remain in your home as long as possible
You value your independence and enjoy your home. You’re not planning to go anywhere … certainly not to a nursing home.
Family relationships are important
Your family means the world to you. You love spending time together and don’t want to do anything to jeopardize those cherished relationships.
You want to protect your retirement savings
You worked hard to plan for a comfortable retirement. Spending your life savings on long-term care services isn’t on your to-do list.
The value of long-term care insurance
As you age, you may need help with things you’ve always been able to do yourself– shopping for groceries, fixing meals, cleaning the house. You may also need help with personal services, like bathing, dressing or taking medications. A long-term care insurance policy is designed to help you pay for these types of services.
Gen worth long term care
The secret to getting the care you want tomorrow? Planning today.
People are living longer than ever. But 70% of those over 65 will need long term care at some point.1 Health insurance won’t pay for it. Medicare and Medicaid may provide limited coverage but only if you meet certain criteria. Long term care insurance, on the other hand, can provide you the coverage you need to live your life on your terms, where you want
Why would I need it?
Long term care insurance is coverage that you purchase in the event that you are one of the overwhelming majority of people who will need some form of long term care as they age. If you are unable to perform simple everyday tasks by yourself, like going to the bathroom, getting dressed, feeding yourself, or getting from place to place, you will need long term care services or support
John Hancock long term care
John Hancock Life and Long-term care insurance products are issued by John Hancock Life Insurance Company (U.S.A.), Boston, MA 02210 (not licensed in New York); and in New York by John Hancock Life Insurance Company of New York, Valhalla, NY 10595 (Life insurance) and John Hancock Life & Health Insurance Company, Boston, MA 02117 (Long-term care insurance).
The John Hancock Vitality Program is available with select John Hancock policies. Please consult your financial representative as to product availability, additional information, costs, and complete details on coverage. Product availability, features, benefits, and costs may vary by state. The life insurance policy describes coverage under the policy, exclusions, and limitations, what you must do to keep your policy in force, and what would cause your policy to be discontinued.
Vitality is the provider of the John Hancock Vitality Program in connection with life insurance policies issued by John Hancock.
Premium savings are in comparison to the same John Hancock policy without the Vitality program. Premium savings over the life of the policy will vary based upon policy type, the terms of the policy, and the level of participation in the John Hancock Vitality program.
Vitality Rewards may vary based on the type of insurance policy purchased for the insured (Vitality Program Member) and the state where the insurance policy was issued. John Hancock Vitality Program rewards and discounts are only available to the person insured under the eligible life insurance policy. Rewards and discounts are subject to change and are not guaranteed to remain the same for the life of the policy.
Transamerica Long Term Care Insurance
When we think “long term,” we often consider retirement savings and wealth preservation. But what about long term health? What about long term care?
Long term care is a family matter: Early planning may help you avoid facing tougher decisions down the road. How much care would you (or a loved one) need? How would the care be paid for? Would care at home or care in a facility be preferable?
These are important questions to consider when crafting a long term care insurance plan