LONG TERM CARE: INDIVIDUAL CONTRACTS

Long term care insurance policies pay benefits when long term care is prescribed by a physician as necessary or medically necessary ow when someone can no longer take care of basic needs. Usually, policies cover all levels of care in state licensed nursing homes. In addition, many policies cover benefits in assited living circumstances and home health care.

Most policies contain a waiting period during which no benefits are paid. After the waiting period is satisfed, the policy pays up to a pre-set maximum dollar amount for each day of covered services. The daily allowance will vary according to the selection made by the insured. If there is a difference between the maximum daily allowance and the cost of the care, it is the patient's responsibility to pay the difference.

Many policies offere a cost of living adjustment to keep up with the annual increases in the daily cost of care.

An individual long term care contract is the best option if you are self-employed, or work for an organization that does not provide long term care benefits.

To receive a quote based on your needs, please submit your information online or call us at 800 214-7039 today to discuss your situation in greater detail.