Long-term Care
Failing to plan is planning to fail.
It’s a fact of life today. As we continue to live longer, millions will face the prospect of needing or providing long term care at some point in their lives.
Long term care may be needed by anyone—at any age—due to accidents, illness, advanced aging, strokes or other chronic conditions. It is assistance or supervision with the everyday activities of daily living, such as bathing, dressing and moving about. And it helps people with cognitive impairments or brain disorders like Alzheimer’s Disease. Long term care can be received at home, in the community or in an assisted living or nursing facility. While the costs for each type of care can vary greatly, they can add up quickly. Families can deplete their savings as they pay for this increasingly expensive care out of their own pockets.

Talk to a long term care insurance professional who will look at your personal and financial situation to tailor a coverage amount that is satisfactory to your needs as well as your budget.
BEACH FINANCIAL GROUP | LTC | FREQUENTLY ASKED QUESTIONS
WHAT IS LONG TERM CARE?
Long term care is care that you need if you can no longer perform everyday activities of daily living by yourself due to a chronic illness, injury, disability or the aging process. Long term care also includes the supervision you might need due to a severe cognitive impairment (such as Alzheimer’s disease).
This type of care is not intended to cure you. It is chronic care that you might need for an extended period or for the rest of your life. You can receive long term care in your own home, an assisted living facility, or a nursing home.
WHO SHOULD BUY THIS INSURANCE?
Anyone can need long term care at any time in their life. Automobile and sporting accidents; disabling events such as strokes, brain tumors, and spinal cord injuries; and disabling illnesses such as multiple sclerosis and Parkinson’s disease are examples of injuries and ailments that can happen to anyone at any age.
Nearly 41% of long term care is provided to people under age 65 who need help taking care of themselves due to diseases, disabling chronic conditions, injury, developmental disabilities, and severe mental illness.
According to the U.S. Department of Health and Human Services (HHS), about 70% of people turning age 65 will need long term care services at some point in their lives.
WHAT DOES LONG TERM CARE INSURANCE COVER?
When it was first introduced over forty years ago, long term care insurance was marketed as nursing home insurance. That is why often times it is still misunderstood. Today long term care insurance policies encompass a broad variety of treatment and care-giving options, such as home health care, homemaker services, adult care homes and other assisted living arrangements, in addition to nursing homes. They also contain provisions to adapt as technology changes so that they cover the care capabilities that will be available 30-50 years from now.
BUT I DON’T PLAN TO BE IN A NURSING HOME
More than 70% of people receiving long term care services do so in the comfort of their own home.
Most people receive long term care in settings outside of a nursing home. Today’s policies provide comprehensive coverage, regardless of whether you receive care at home, in an assisted living facility, or in a nursing home.
WHY DO I NEED IT? WON’T MY HEALTH INSURANCE COVER ME?
Health insurance, including Medicare, rarely covers ongoing chronic care needs. Most health plans are intended to cover skilled, short term medical care as you recover from an illness or injury. For example, you need a surgery because of an injury. Health insurance will pay for the surgery, hospital stay and doctor’s bill. But if you need help with your daily activities of living and someone to provide care for you while you recover, this is not covered by health insurance. Long term care insurance will pay for the additional care you may need.
I THOUGHT MEDICARE COVERED THIS
Medicare is generally available for people over age 65 and the disabled. It only pays limited amounts for skilled nursing care following a hospital stay and it is not intended to cover care that assists people with activities of daily living for long periods of time. Specifically, Medicare covers the first 100 days of skilled care in a nursing home after a hospital stay of at least 3 days and as long as you enter a nursing home within 30 days of leaving the hospital.
WHEN SHOULD I BUY IT?
Long term care is not just for the elderly. Nearly 41% of long term care is provided to people under age 65 who need help taking care of themselves due to diseases, disabling chronic conditions, injury, developmental disabilities, and severe mental illness.
You can purchase long term care insurance at any time as long as you are able to pass medical underwriting. Since the cost for this insurance is based on your age at the time of application, your premiums will be lower the younger you are when you apply.
It is important that you apply for long term care insurance when you are in good health. That is because most long term care insurance plans list certain medical conditions, or combinations of conditions, that will prevent some people from being approved for coverage.
HOW LIKELY IS IT I WILL NEED THIS INSURANCE
According to the U.S. Department of Health and Human Services (HHS), about 70% of people turning age 65 will need long term care services at some point in their lives.
Nearly 41% of long term care is provided to people under age 65 who need help taking care of themselves due to diseases, disabling chronic conditions, injury, developmental disabilities, and severe mental illness.
I HEARD IT IS REALLY EXPENSIVE
The cost of long term care insurance varies and is based on gender, age and health. The younger you are when applying, the lower the cost will be. A policy can be tailored to meet your budget as well as your need.
HOW DO I DETERMINE HOW MUCH TO BUY?
Long term care insurance can help pay for care expenses and keep you in control of where and how you receive your care. It can be designed in any number of ways so that it fits your needs—and your budget.