Long Term Care (LTC) Options for Your Extended Family
We know one solution doesn't work for everyone, please review these additional options available to your extended family, as they are not eligible for this employee and spouse benefit offering. Please contact us or have your family contact us directly using the contact information below.
AGIS Network’s LTC Specialists are here for you.
Personalize an action plan to safeguard your family, finances, and future!
- Health and disability insurance do NOT cover LTC expenses.
- Often people wipe out their retirement savings and other assets to fund in-home care.
- Avoid relying on family, friends or neighbors for daily help and assistance which may not be adequate, convenient, or even possible.
- States are starting to propose, and some may potentially enact, legislation that creates new taxes for individuals if they do not own private LTC insurance.
- The sooner you apply, the better! Premiums are based on your age at application. Typically, the younger you are, the healthier you are, which makes it easier to be approved for coverage.
What is Long Term Care (LTC)?
We all might need a little extra help some day as the result of an accident, illness, or age. LTC insurance is designed to pay the cost of extended professional caregiving. Most LTC is non-medical, it includes assistance with activities such as taking a bath or moving from a bed to a chair or caring for someone with severe cognitive impairment.
That’s why having a plan in place is so important. It allows for paid/hired care at home. Your plan also helps with expenses should you need to move to an assisted living or memory care facility.
The Basics of Long Term Care Insurance
What is Permanent Life Insurance With LTC?
Many of us have group term life from our employer and potentially some “supplementary” group term life insurance. Those policies protect us for an “unexpected death” during our working careers. Permanent Life insurance is life insurance we take into retirement at the same cost as when we were working, but it is for our “expected death” late in our golden years.
Too many employees have no life insurance when they retire, this program solves that problem. We might not need as much life insurance as when we were working, but it is likely we want/need more than zero. And this policy will pay LTC benefits should those be needed and still maintain a death benefit that pays out later whether we use the LTC benefits or not.
Life w/LTC Insurance
The Basics of Short Term Care (STC) Insurance*
Like LTC, Short Term Care insurance plans help with home care, assisted living, nursing homes, and usually offer benefits for up to a year.
*Not Available in all states