Certified Insurance Broker Discusses The Types of Long Term Care Insurance
As a certified Insurance Broker, I regularly get asked what types of long term care insurance are available. It used to be that long term care insurance policies only covered benefits if you were in a nursing home. However, with today’s policies it’s recommended that comprehensive benefits are purchased so it doesn’t really matter where the care is provided whether it’s in a nursing home, an adult day care facility, an assisted living facility, or preferably pays for home health care.
In an ideal world, the benefits payable under those policies would be unlimited. As you can imagine, premiums for that type of policy are very expensive. To offset that high cost, benefit periods can be shortened, benefits can be shared between couples, and partnership policies can be purchased.
Do you know the different types of Long Term Care Insurance? Contact our experienced Insurance Brokers for guidance.