Health insurance will cover you should you need a hospital stay, but what about old age? Even if you avoid a tragic accident, everyone eventually gets old and may need elderly care. Long-Term Care Insurance will take care of costs should you need to enter a facility or require a live-in nurse. This will become necessary should someone over age 65 be unable to perform one of the six activities of daily life. This includes eating, dressing, bathing, transferring, toileting, or continence. A care provider may also perform instrumental activities such as cooking, housekeeping, medication management, etc. Long-term care insurance pays for what health insurance won’t.
What Long-Term Care Covers
If you are no longer able to do a number of the activities of daily life on your own or become cognitively impaired, you become eligible for the benefits of long-term care. Your age at the time of purchase may affect the cost. Women may have to pay more because, on average, they live longer than men. A pre-existing health condition may not prevent you from getting a policy. However, the policy might not cover any care germane to that specific condition for quite some time after it goes into effect.
Why You Should Get It
There are two main reasons for getting long-term care insurance. The first is to protect your savings. The other is to give you more options for your care. Long-term care can run quite expensive. Long-term care insurance may help you find a better quality of care than health insurance alone can.
Contact Colling Insurance Services Inc. For Long-Term Care
If you are in the Lakewood, CO area and looking into long-term care, consider Colling Insurance Services Inc. We’re here to help you.