What are the Benefits of Long-Term Care Insurance?

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What are the Benefits of Long-Term Care Insurance?

Long-term care insurance can have huge benefits when it comes to longer periods of care. Unlike traditional health insurance, long-term care insurance is meant to cover long-term services. Now, we’ve taken a closer look not only at what long-term care insurance is, but also what the benefits of having it are.

What is Long-Term Care Insurance

Long-term care insurance are insurance policies that reimburse policyholders a daily amount for services that help them during their daily living activities. This can including helping with activities such as bathing, dressing, or eating.

Of course, there are several options when it comes to long-term care insurance. The cost of the insurance varies depending on how old you are when you buy the policy, the maximum number of days the policy will pay, and the maximum amount the policy will pay per day.

The Benefits of Long-Term Care Insurance

Why would you need long-term care insurance in the first place? It can help if you want to live independently from your children or family members for support. Because it helps cover out-of-pocket expenses, it can be a huge boon to those who want to maintain their independence.

While Medicaid provides some of the benefits of this type of insurance, it doesn’t provide medically necessary services. In addition, Medicare and health insurance may only cover a fraction of costs. This means that long-term care insurance can help with those who need to have these particular services.

In fact, it’s estimated that just one year in a Connecticut nursing home can cost more than $109,000. Because an average stay can be about two years, this means that having a way to offset these costs is important.

How to Get Long-Term Care Insurance

When it comes to getting long-term care insurance, choosing an independent insurance agent can be especially useful. If you’re 40 or older, you can add long-term care insurance as part of your retirement plan. Give Petruzelo Insurance a call today to learn how you can add long-term care insurance to your plan.

For more information on long-term care insurance in Connecticut, call: 1-866-479-3327


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