Long Term Care

Statz Agency will shop a variety of companies for you.

Long Term Care also called Extended Care is something people need but do not want to talk about. In fact 1 out of 2 people will need some form of this care in their lifetime.

If you think about it we all know at least one person that has needed help with taking medications, or help with performing any of the six Activities of Daily Living ( eating, dressing, bathing, toileting, transferring, continence, )  or help with transportation or grocery shopping.

The definition of Long Term Care:

When someone needs assistance or supervision for 90 days or more with their activities of daily living.

There are 4 types of Long Term Care

  1. Home Health Care (this is the most common): Includes personal care, nurses, therapists, homemaker services , etc..
  2. Assisted Living (predominant choice for live-in care): Includes community, apartment style living, 24 hour personal or custodial care, option for live-in spouse
  3. Community Care (also known as Adult Day Care): Includes support for receiving care at home and respite care for overnight relief
  4. Nursing Home: Includes 24-hour care, institution feeling, hospital setting, skilled nursing and therapists.

We are living longer lives but not healthier ones. Our pool of family healthcare givers is diminishing and we all need to hire help. We can choose to self-insure but with the average cost of care being $46,000/year is it worth losing everything we worked for in a matter of years because we were not aware that we could protect ourselves in a very affordable manner.

How it works:

You purchase a pool of money that is accessible at a pre-determined monthly amount. This amount is accessible after triggers and a deductible (also known as an elimination period are met)

For Example:

    • $432,000 Pool of Money
    • $6,000 Monthly Access
    • Policy will last 6 years if maxed out monthly
    • If 5% compound inflation is added, this same benefit would be worth $864,000 in 14.7 years.

There are other ways to cover LTC needs through Life Insurance Plans and Annuities. Statz agency will consult with you and your family to determine what kind of care you will need to be prepared for and how much coverage will be appropriate.

We will give you the best 2-3 options based on your needs and budget.

Call us today and we will help you get started on preparing for your future care and protecting your assets.

Contact an Insurance Professional