Ask a Pro
Long-Term Care Insurance
Q: What is a good age to purchase a long-term care insurance plan?
A: Most people are beginning to consider long-term care insurance at about age 50 although some younger than that are making the purchase as part of their retirement plan. Age is not the only consideration. Adverse health conditions are the biggest reason people are unable to get long-term care insurance. It is important to get your coverage in force before you are diagnosed with a health condition that might disqualify you. An experienced long-term care insurance specialist will be able to discuss the underwriting guidelines with you.
Q: I am 75 years old and had breast cancer three years ago. Will it be possible for me to get long-term care insurance and if so, how much might it cost?
A: As independent brokers we have access to nearly every major insurance company. Some companies won’t accept an application until five years have passed since the last treatment for the cancer, however, we do have access to a company that will accept an application after only 24 months have passed. The coverage can be tailored to meet your own individual financial needs.
Q: Do long-term care insurance policies cover the charges for adult day care?
A: Yes, the companies that we work with cover all of the different places you may need to receive care, including adult day care, foster care, nursing home care, home health care and assisted living facilities. We feel it is best to have this type of comprehensive coverage because there is no way to know in advance which setting will be the most appropriate when the time comes. Your premium will be determined by how much you need the company to pay. Call our office for a quote.