Dignity and Independence

Understanding Long Term Care Insurance

Long-term care insurance helps pay for the costs associated with long-term care that are not covered by provincial medical insurance. Statistically, about 70 percent of individuals over age 65 require at least some type of long-term care services during their lifetime.

Long-Term Care Insurance protects against being financially unable to take care of yourself as a result of aging, an accident, illness, or declining mental abilities.

Long-Term Care Insurance provides you with a benefit that can help you pay for services or support that you need. A Long-Term Care Insurance policy provides individuals with a tax-free benefit that they can use however they want.

A person qualifies for this benefit if requiring substantial assistance with at least two of the following six activities of daily living:

  • BATHING The ability to wash oneself and handle grooming tasks such as shaving and brushing teeth.
  • DRESSING The ability to make appropriate clothing decisions and physically dress oneself.
  • TRANSFERRING Moving oneself from seated to standing and getting in and out of bed.
  • CONTINENCE The mental and physical ability to use a restroom independently.
  • EATING The ability to feed oneself though not necessarily to prepare food.

The cost of Long-Term Care insurance is impacted by the age and health of the person, the elimination period, the length of the benefit period, and if inflation protection is included.

Who is Long-Term Care Insurance suited for?

  • Those who want to protect their wealth and legacy from the cost of care.
  • Those who are concerned that their savings would not be able to support them if their health deteriorates.
  • Financially support their care-givers and family should they require care.

What Long-Term Care Insurance can do for you

Long-Term Care Insurance can help prevent individuals from depleting retirement savings, selling home, liquidating assets in order to pay for necessary care.

This type of insurance can prevent individuals from having to compromise their quality of life in order to pay for necessary care.

Get a quote on long term care insurance today.

When you complete the Insurance Inquiry form after clicking below, we’ll help you design a plan and quote you rates from our top insurance companies with 100% transparency so you can select the lowest insurance price, guaranteed.