What is Long Term Care?
Long Term Care from Chappell & Stone Insurance Agencies Inc. provides a benefit, similar to an income, if you become unable to care for yourself due to an accident, illness or mental conditions. The money is usually paid to you and for you and your family to use as needed.
Why You Should Consider Long Term Care
Most people who opt for long term care insurance in Scarborough do so because they want to be sure they are covered financially if they have an accident that requires a substantial need for care afterwards, for example.
They may also be concerned that their current retirement plan hasn't accounted for their medical needs as they get older, where they may need more help than a government plan allows for.
Or, perhaps they just want to take care of their family’s inheritance after they've passed, by ensuring their estate doesn't have to bear the burden of longer term healthcare costs.
How Long-Term Care Insurance Can Help.
If you are concerned that you might need long term care in Scarborough, consider this: Long term care can help you bring long term care workers into your home so that you don't need to downsize or move into a care facility right away.
Long term care in Scarborough can help lower the burden of care required by care-givers while also providing financial support to your family if you are going to live with them. In other words, your long-term care policy will help provide most or all the money needed to pay for long term care support workers.
Contact us today to discuss your long-term care in Scarborough.
|A new and innovative approach to long term care.|
|Product Overview||Provides benefits from Major Carriers to help cover the costs of long term care, either home-based or in a nursing care facility.|
Retirees and pre-retirees concerned about:
|Premium Structure||Designed to be level to age 100 or Pay for 20 years or pay to age 65. Premiums are guaranteed for the first five years. After that Premiums may increase or decrease to reflect changes in cost experience. If however premiums are payable to age 100, the last time rates can be changed is the latter of attained age 75 or 20 years from the coverage effective date.|
|What Triggers Payment of Benefits?||
Requires assistance with Activities of Daily Living or due to a cognitive impairment, and incurs associated expenses.
Activities of Daily Living: requires the physical assistance of another person to perform 2 or more of: bathing, continence, eating, dressing, toileting, transferring.
Cognitive Impairment: has a loss of mental capacity so that ongoing supervision from another person is required. Examples include Alzheimer's disease or senile dementia.
A care coordinator, who develops a plan of care satisfactory to both the insured and the insurer, must assess loss. The plan of care identifies the type, frequency and duration of required services.
|When Does Payment Begin?||After selected elimination periods from the date of assessment: 30, 90 or 180 calendar days.|
|How are Benefits Paid?||Single Life Coverage: $25,000 to $1 Million - 0.5%, 1% or 2% OR Paid for Life|
|Benefit Maximum||Shared Coverage: $ 50,000 to $ 2 million - 0.25%, 0.5% or 1% OR Paid for Life|