Traditional Long Term Care Insurance
Traditional Long Term Care Insurance is a form of private insurance that assists individuals who can no longer care for themselves. They may require assistance based on their activities of daily living (bathing, dressing, toileting, transferring, continence, and feeding). This type of insurance is also designed for individuals who develop cognitive disorders such as Dementia, Alzheimer’s, and memory loss.
Traditional LTCi policies sold today are comprehensive plans which provide services such as Home Health Care, Adult Day Care, Assisting Living, and Nursing Home Care. Policyholders have the flexibility to decide who provides the care and where the care is provided.
Most people prefer to receive care within their home, close to their friends and family. Depending on the state, often homecare is less expensive than receiving care from an assisted living or nursing facility.
Benefits of Traditional LTCi
Traditional LTC is going to provide the most leverage in long term care benefits. The premium dollars spent are strictly for tax free LTC coverage for an extended period of care. Depending on the design of the policy, Traditional LTC is also the most affordable plan available for those who are insurable.
When considering plans that provide the most coverage for the lowest premiums for LTC benefits, traditional LTC stands out the most. Traditional LTC also allows couples to apply together. Insurance companies reward couples to apply together by providing discounted rates and riders that are only available for couples applying together.
Why Traditional LTCi
· Provides highest leverage of any solution for Traditional long term care needs
· Protectstry assets & wealth
· Flexibility to access benefits
· Tax free benefits & tax deductible LTC premiums
· Lowest cost for LTC benefits