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LONG TERM CARE INSURANCE


Protect your future well-being and financial security with a Long-Term Care (LTC) insurance policy.

If you’re not able to care for yourself, this insurance helps you pay for services such as home health care providers, assisted living facilities or nursing homes. These services can quickly become expensive and may not be covered by your health insurance. This coverage helps to defray the cost of care, either in your home or a facility.

The expenses associated with a chronic condition can be shocking and turn into one of the most costly healthcare components of your lifetime. Therefore, it deserves proper attention to protect your assets from being derailed from their intended use. 

Call Chartered Financial Services in Warren, NJ today at 800-549-6007 to learn more about LTC insurance quotes and coverage or contact usto discuss this further.


What is Long-Term Care Insurance?

Long-Term Care insurance can help you remain at home or help with payments for assistance at facilities such as a nursing home or assisted living facility should you meet certain requirements. Needing assistance with simple daily tasks like getting dressed, bathing, eating, toileting, transferring (from bed to chair for example), or continence for at least 90 days would trigger a Long-Term Care policy to assist with paying for services. Having a cognitive impairment would also qualify for a Long-Term Care policy to pay benefits. Long-Term Care insurance provides financial support for this kind of care, which can allow you to stay in the comfort and familiar surroundings of your own home for as long as possible. Other circumstances such as having joint surgery or recovering from accidents or other illnesses may also qualify for benefits. 

How Does It Work?

Long-Term Care insurance provides you with a daily or monthly financial benefit that’s used to reimburse you for care received from a healthcare provider in your home, at an assisted living community, or in a nursing home. The amount you receive depends upon the policy you purchase. Your insurance carrier will provide you with daily or monthly benefits for either a predetermined length of time or up to a certain monetary limit. The policy can even include a benefit that increases with inflation to help assure that you have the right amount of protection at the right time. 

Is It Right for Me?

It is difficult to predict how much care you’ll need at any point in life. Long-Term Care insurance can be an excellent way to help you remain financially secure. If you have concerns about paying for a chronic condition out of your own pocket, this coverage may be a good choice.

Keep in mind there is no single policy that is right for everyone. Some of the factors you should consider before purchasing a policy include your current financial situation, your age, your health, whether or not you have a support system that may be able to help should you need assistance and how much coverage you may need. It’s easier to decrease your level of coverage later, but it’s typically more difficult to increase it.

We offer a variety of solutions. Some life insurance policies now offer riders that would pay for a Long-Term Care event. The professionals at Chartered Financial Services can help you determine whether or not a Long-Term Care insurance policy is a suitable purchase for you.