What is Long Term Care Insurance?

Long Term Care Insurance is critical in your planning if you want to protect your assets from being depleted due to long term health care cost.  If you don’t personally know someone to whom this happened, chances are you’ve heard the stories; people whose health deteriorated or their age made them less capable of caring for themselves, who spent the bulk of their life savings or even went into great debt to get the long term care they needed.

With the vast majority of health insurance plans available today, a great deal of the treatments and care that a person in such a situation would require aren’t covered. That’s why it’s crucial that if you know or foresee you will need more extensive care in the future, you seek out long term care insurance.

We help consumers compare and gather long term care insurance quotes in a simple and easy process. We have a simple quote form that will gather just the right information we need to provide a solid long term care quote.

But how do you know which long term care insurance companies will best suit your needs or are offering the best policies for the best prices? To date, there’s a handful of companies providing such coverage and going through long term care insurance reviews for every single one of these would mean doing countless hours of research. Even then, the long term care insurance reviews might not tell you what you need to know or give you a better idea of who is a reputable provider.

Why us? Local Life Agents has gone through all of the long term care insurance companies, developed relationships with these companies and strategically chosen the providers with which we currently work with. From our list of providers, our team of licensed life insurance agents and in-house underwriters can help place you with the provider who is best-suited to meeting your long term care insurance needs. So, instead of leaving your decision to to chance, let a Local Life Agent provide you with all of the help you need throughout your decision making process.

Why Buy Long Term Care Insurance?

  • Don’t drain your families entire nest egg on long term needs
  • Transfer your long term care needs to the insurance company for a fraction of cost
  • When a loved one needs long term care, life can get complicated quickly

LTC Benefits

  • Nursing home care
  • Assisted living care
  • Home health care
  • Adult day care

Talk To A Specialist Today.

Get a free quote and illustration from one of our advisers. Call today...855 924 5433

Long Term Care Costs Case Studies

Linda was a widow and had one child. She and her late husband had saved and invested all their lives. Together they had accumulated over $1,600,000 in assets.  Linda was always under the impression that her accumulated assets were more than enough to pay for her long term needs. Linda never realized how fast and how much long term care could add up.

Linda always wanted to leave her daughter as much of her wealth as she could. However that is not how it turned out.

Linda had never purchased a long term care policy and her health took a turn for the worst.  Linda’s health issues put her in need of full time care and with her daughter living two states away and working full time it was impossible for her to give her mother the care she needed.

After 5 years in a nursing home Linda had drained the entire nest egg that she wanted to leave behind for her daughter. She was forced in a Medicaid facility because she was out of money.

Solution – Linda could have insured against this if she would have just had a plan in place. Linda could have bought a long term care policy that could have protected her nest egg for pennies on the dollar.  She could have bought a 10 pay long term care policy that would have cost less than 2% of her entire wealth. She would have been able to stay in the nursing home of her choice and pass on the wealth her and her husband worked so hard for.

cost of long term care insurance for a female

cost of long term care insurance for a male

John is 62 years old and still working.  He has a farm and has accumulated over $900,000 in assets. John wants to make sure he can pass on the majority of his wealth to his children.  John also wants to make sure when the time comes that he can get his long term care needs in the home he loves.

John bought a long term care policy that was pennies on the dollar of his accumulated assets. John bought a policy that will give him $250 a day of in home or nursing home facility care. It comes with a 5 year benefit period and a 5% inflation guard.

John was smart to get the policy when he was still you and healthy. John now has piece if mind and his family does too.

The biggest mistake people make when getting long term care insurance is waiting till they are not healthy enough to qualify for it.  Don’t wait till it’s to late to get coverage.

Our long term care insurance companies and providers

We represent the top long term care insurance providers in the US.  The role of an agent when working with these providers can not be understated. A fully and complete application sent to an underwriter can be the difference in paying more for your policy than you should or not getting coverage at all.  Long term care underwriting is unique, it’s very different than life insurance and disability insurance.  That is why who you choose as your agent is so important. We have the knowledge and expertise to make sure you get the rates you deserve.

 Genworth long term care insurance

john hancock long term care insurance

Lincoln National long term care insurance

Transamerica long term care insurance

LTC Underwriting is Unique

Their are a lot of medical conditions that can make you uninsurable for long term care insurance. Some examples would be HIV, Alzheimers, Leukemia, Stroke, Wilson’s Disease, Wheelchair use, Parkinsons, Paralysis, Muscular dystrophy, MS, etc. As well it can make it difficult to qualify when you have a combination of health issues like diabetes combined with smoking in the last five years.

What an underwriter will want to know.

  • Is their any cognitive impairment
  • Your abilities to preform ADL’s , eating, bathing, mobility, etc.
  • Your ability to preform ADL’s like meal preparation, shopping, handling finances, etc.
  • If you have musculoskeletal issues ex, osteoporosis, falls etc.
  • Medications you take and any adverse side effects
  • If your currently in physical therapy
  • Any serious disabilities
  • Your independence factor as can you drive, take care of your self, etc.