Long Term Care –
When You Need It Most
According to the federal government, some 70% of senior citizens will experience the need for long term care at some point in their lives, whether that’s the need for in home services, assisted living or an extensive stay in a nursing home. Yet most people don’t know that Medicare does not cover long term care facility stays that exceed 60 days.
Unfortunately, the vast majority of seniors have no protection from this very legitimate threat. Some cannot qualify due to poor health, some assume the government will take care of them, some cannot afford the premiums and others are simply in denial of the potential disaster of a long-term care situation.
Long Term Care
Insurance – Elder Care
The need for long term care insurance coverage is real. However, there are some very valid reasons why seniors avoid obtaining conventional long term or elder care policies. Not only are many of the conventional options less affordable, but they are being replaced by new life insurance policy options as well as options you can add with fixed indexed annuities.
For those without long term care coverage, this is good news. Over the last few years, there have been some highly innovative insurance solutions developed that can help individuals protect themselves at very affordable costs, and even offer optional benefits if the coverage is not actually needed. At the very least, we strongly encourage you to explore your coverage options when it comes to elder care.
For more information about today’s options for long term care coverage or to learn more about the “new way” seniors are protecting themselves against this tangible threat, contact Simon & Simon Financial today.