Long-Term Care Insurance
Prepare for the Unexpected,
Ensure Quality Care
Long-term care (LTC) is a reality many will face, yet few plan for. A serious illness or accident can lead to extended care needs, placing a significant financial burden on individuals and families. Help your employees safeguard their future with a group long-term care insurance plan.
Why Long-Term Care Insurance Matters
Comprehensive Coverage
LTC insurance covers a wide range of services, including assisted living, hospice care, skilled nursing, and even home care.
Financial Protection
It helps cover the high costs associated with long-term care, protecting your employees’ savings and assets.
Peace of Mind
Knowing they’ll have access to quality care in the future alleviates stress and anxiety for both employees and their families.
Choice and Flexibility
Employees can choose the type of care and providers that best suit their needs.
How Long-Term Care Insurance Works
LTC policies typically reimburse a daily amount (up to a set limit) for services that assist with daily living activities. The cost of the policy depends on:
- Age at Purchase: Younger individuals typically pay lower premiums.
- Daily Benefit Amount: The maximum amount the policy pays per day.
- Benefit Period: The maximum number of days (or years) the policy pays benefits.
- Optional Benefits: Such as inflation protection, which increases benefits over time.
What to Know Before You Buy
- Medical Underwriting: Most individual and some group policies require medical underwriting, meaning those in poor health or already receiving LTC services may not qualify.
- Policy Options: Explore various plans to find one that aligns with your employees’ needs and budget.
- Premium Costs: Premiums can vary depending on age, health, and chosen coverage options.
What Our Clients Are Saying
FAQ
What is long-term care (LTC) insurance?
LTC insurance is designed to cover the costs of extended care services that may be needed due to aging, illness, or disability. These services can include assisted living, nursing home care, and home healthcare.
Why should my employees consider LTC insurance?
LTC insurance offers financial protection for your employees and their families, ensuring they can afford quality care if needed. It also provides peace of mind and flexibility in choosing care options.
What factors affect the cost of LTC insurance?
The cost of LTC insurance varies depending on the age of the insured person, the daily benefit amount, the benefit period, and any optional benefits chosen, such as inflation protection.
Do I need to undergo medical underwriting to get LTC insurance?
Most individual LTC policies and some group policies require medical underwriting, meaning that those in poor health or already receiving LTC services may not qualify. However, some group policies may offer guaranteed issue options with less stringent health requirements.
How can Primary Care Insurance Solutions (PCI) help me with LTC insurance?
We can help you understand the complexities of LTC insurance, explore various plan options, and find the best coverage for your employees’ needs and budget. Contact us to learn more.
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