It might be hard to imagine now, but chances are you’ll need some help taking care of yourself later in life. The big question is: How will you pay for it?

Buying long-term care insurance is one way to prepare. Long-term care refers to a host of services that aren’t covered by regular health insurance. This includes assistance with routine daily activities, like bathing, dressing, or getting in and out of bed.

A long-term care insurance policy helps cover the costs of that care when you have a chronic medical condition, a disability, or a disorder such as Alzheimer’s disease. In addition, most policies will reimburse you for the care given in a variety of places, such as:

Facility-only: This type of insurance covers care provided in a long-term care facility, such as a nursing home.

Home care-only: This type of insurance covers care provided in the policyholder's home by a professional caregiver.

Comprehensive: This type of insurance covers care provided in both a facility and at home.

Group: Group long-term care insurance is purchased through an employer or other organization, and may be available at a lower cost than an individual policy.

Long-term care insurance is important because it helps cover the cost of care for people who need assistance with activities of daily living. In addition, it can provide financial security and protect assets for the policyholder and their loved ones, as long-term care costs can quickly deplete savings. Long-term care insurance can also ensure that the policyholder receives the type and quality of care they prefer and provide peace of mind.

It might be time to switch insurers whenever the service that your existing insurer provides doesn’t meet your needs. For example, if you have a poor claims experience or an unexplained rate increase, it might be time to consider other options

If you cancel a previous policy before a new policy is effective, you could run into some serious financial problems.

Contact us today to help you with multiple options to choose from.