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Long Term Care Insurance

We are all living longer, which is very exciting. Less enticing is the prospect that by the time most of us reading this will require extra levels of care, the government will not have the funds available to help. Furthermore, long-term care costs are not currently covered by the Canadian public health system.

 

What is long-term care insurance?

Long term care insurance is designed to help provide for your future care needs, and applies as much to young people as those approaching retirements. The aim is to provide financial protection if you become unable to care for yourself through illness, disability, age-related conditions or cognitive impairment (e.g.dementia).

 

The care you need, when and where you need it

Long term care insurance is not just about providing for nursing home or residential care fees. Payments could provide you with the means to live in your own home for longer, employ a caregiver, pay a family member to look after you, or move to an adapted home more suited to your needs.

 

Key features of long term care insurance

  • Financial protection when you need help most
  • Designed for long term coverage
  • Choice of insurance types - expenses or income
  • Choose the care that suits your needs best
  • No worries over expensive long-term care facility costs
  • Options to customize your policy to your exact needs

 

Income or expenses?

Long-term care insurance policies are available in two main formats:


Expenses coverage: this type of policy will pay out for expenses incurred from a pre-determined list, up to maximum daily allowance.

 

Income plan: this policy provides you with a regular payment that can be used in any way you wish, whether to help pay for in-home care services or residential care.

 

How Jeff can help

If you are concerned about future care costs either for yourself or a loved one, come and talk to us. We'll help you define what your needs might be, and source a range of policies that suit your specific needs. As with all health-based insurance, the younger and fitter you are when you buy your policy, the lower the premiums will be. So, even if you're feeling younger than springtime, do come in and see us to discuss your healthcare insurance requirements.

 

For more details, call us at 519-485-5801

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7 St. Andrew Street

Ingersoll, Ontario

N5C 1K6 Canada

 

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