Long-Term Care Insurance
What Is Long-Term Care Insruance?
Long-term care (LTC) insurance is designed to cover long-term services and supports, including personal and custodial care in a variety of settings such as your home, a community organization, or other facility. Long-term care insurance policies reimburse policyholders a daily amount (up to a pre-selected limit) for services to assist them with activities of daily living such as bathing, dressing, or eating. You can select a range of care options and benefits that allow you to get the services you need, where you need them.
The cost of your long-term care policy is based on:
- How old you are when you buy the policy
- The maximum amount that a policy will pay per day
- The maximum number of days (years) that a policy will pay
- The maximum amount per day times the number of days determines the lifetime maximum amount that the policy will pay.
What Long-term Care Insurance Covers
Most policies sold today are comprehensive. They typically allow you to use your daily benefit in a variety of settings, including:
- Your home
- Adult day service centers
- Hospice care
- Respite care
- Assisted living facilities (also called residential care facilities or alternate care facilities)
- Alzheimer’s special care facilities
- Nursing homes
In the home setting, comprehensive polices generally cover these services:
- Skilled nursing care
- Occupational, speech, physical, and rehabilitation therapy
- Help with personal care, such as bathing and dressing
Why Crestway Group
The Crestway Group (CWG) can help you design and customize a Long-Term Health Care plan especially for you or a family member. Contact a team member in our Personal Lines Division to ask about Long-Term Care coverage we will be happy to assist you.