Flexibility – for the care you need when you need it.
At Reliable Insurance Agency, we understand that people are living longer, healthier lives than ever before. And, with a longer life expectancy comes an increased likelihood that you’ll need long-term cash insurance at some point in your life.
Why you may want to consider Long-term cash insurance:
National nursing home costs average between $40,000 and $100,000 per year. Medicare and Medicaid have restrictions attached to them and do not, typically, cover the full expenses of long-term care or long-term care that lasts more than 20 days.
You may think of long-term health care insurance as being only for senior citizens. But younger people can have a need for long-term care in case of accidents or illnesses.
What does long-term cash insurance cover?
Long-term cash insurance can cover the gamut – from in-home support with daily care needs (such as bathing, dressing and cooking) to ’round the clock’ medical support services received at a nursing home or assisted living facility.
Benefits of long-term-care insurance:
- Supports independence by providing the ability to pay for in-home care and defer out-of-home placement.
- Gives people choices and time to plan for the future.
- Provides financial stability for families seeking care for their loved one.
- Protects loved ones from the burdens of caregiving.
- Premiums may be eligible for an income tax deduction.
If you are thinking about long-term cash insurance, you should consider:
- Affordability. Costs between plans can vary, but in general, long-term cash insurance can be more affordable than you might think.
- Your health. You must be healthy enough to quality for long-term cash insurance. Health qualifications can vary from one carrier to another.
- Your age. Insurers have different pricing plans based on age. In general, the younger you are, the lower your premiums.
- Statistics. You might think it won’t happen to you, but statistics show that most people will need some sort of long-term care (either permanent or temporary) at some point during their lifetime.
- Reimbursement policy versus fixed cash benefit policy. A reimbursement policy pays for qualifying expenses up to the cost of the service. A fixed cash benefit policy provides a cash benefit that could be in excess of the cost of the services. The fixed cash benefit option typically comes with a higher premium.
- Premium incentives and discounts that may be offered by certain companies.
Your needs are individual and unique to your situation. Let our professional staff help you explore the various options for long-term cash insurance to create a policy that is right for you. For your convenience, please click on the link below and fill out the information needed and one of our insurance professionals will contact you directly.