Long-Term Care Insurance

As part of the comprehensive retirement planning process, Hunt Country Wealth Management may present you with recommendations to utilize the proper type of insurance to protect your assets as you prepare for retirement.  These recommendations may include Long- Term Care (LTC) Insurance coverage.

Unlike traditional health insurance, Long-Term Care Insurance is designed to cover long-term care services and support, including personal and custodial care in a variety of settings, such as your home, a community organization or other facility. LTC policies reimburse policyholders a daily amount for services to assist them with the activities of daily living. Policies are based on how old you are when you purchase, the maximum amount the policy will reimburse per day, the maximum number of days (years) the policy covers, the lifetime maximum amount and any additional option benefits you select.

LTC is often an important component of your retirement plan, as long-term care services are generally very expensive. For example, on average, nursing facilities providing skilled care charge $150 to $300 per day–more than $80,000 a year or more. Even custodial home care at three visits per week can cost more than $9,000 a year. By receiving assistance in selecting the LTC plan right for you, we can help to ensure that you understand policies and compare benefits to determine the policy that will best meet your needs in cooperation with your overall financial plan.

Additional Resources:
Administration on Aging: Long-Term Care Information

Neither Hunt Country Wealth Management or Securities America, Inc., nor any of its affiliates or employees provide legal, tax or accounting advice. You should consult your legal and/or tax advisors before making any financial decisions. This material should be regarded as general information on health care considerations and is not intended to provide specific health care advice.