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Long Term Care Insurance

The Baby Boomers, often times now referred to as “Zoomers”, the same bunch that created subdivisions, mini vans, and mobile homes are getting older. They are now starting to think about those days when they may need some help with their own personal aging challenges. Not the least of, one of them is being concerned about not enough money. Particularly, when you start thinking about supplementary health care expenses.

The Zoomers today have probably helped at least one aged parent thru medical and housing needs or at least know someone who has, or perhaps is living that way currently. How do we know those challenges? One of our Founders helped an aged family member for 15 years. The challenges and associated costs of bringing in outside help to your home or their home is just the start of things. Everything changes.

Recognising the need for long term health care planning, the insurance industry has introduced a number of products in the market place to fill this need. How does it work, you ask? Well, like all insurance, you pay a little money up front, usually by the month, and the insurance company will pay you if a specific risk occurs in the future. The Long Term Care risk, is one where you may in fact have to go into a nursing home, require some help in your own home, and have other associated costs with that care covered.

Long term care benefits are not offered by all insurance companies. As well, some companies that were in to the long term care market a couple of years ago, are no longer offering the coverage. You could say that this type of insurance is in the early stages of development.

The best thing The Benefit Guys can suggest, if you have specific needs or questions about this area, don’t hesitate to ask them in the easy to use Client Data page found here. The Benefit Guys will get back to you with further information by your preferred method of contact.

As more and more products come available in the market, The Benefit Guys will post the most current information available.