Long Term Care Insurance
Independence means the financial security to live life the way you - and your family - choose. And long term care insurance plays a big role in making that a reality.
A serious illness, injury, or disability that requires long term care can be a challenge to both your financial security and your family's well being. The time to prepare is now. By incorporating long term care insurance into your financial plan today, you can help protect your savings, your assets, and your family from the high cost of long term care.
Long term care insurance. Important at any age.
It makes sense to plan for long term care when you're young - and healthy. That's because a serious illness, injury, or disability can strike at any age. If something were to happen to you while you were young, you would want to ensure you had ample coverage, since most of us don't accumulate assets until we're older. If it were to happen later in life, you'd want to be sure you could remain independent, protect your retirement assets, and maintain your family's well-being.
Long term care is typically not covered by any other kind of insurance.
Long term care is the kind of hands-on, personal assistance you would need if you became unable to handle several of the basic activities of daily living on your own, such as eating, bathing, getting dressed and moving around. Or if you require significant supervision due to a cognitive impairment resulting from conditions such as Alzheimer's disease, brain injury, or stroke.
This type of care is typically not covered by health or disability insurance. As for government programs, Medicare pays only for short periods of care and Medicaid only covers the very poor - those whose assets are at or below state-required levels.
We encourage you to watch a Kiplinger Educational Video, sponsored by John Hancock, called "A No-Nonsense Look at Long-Term Care and How to Pay for It" (October 2007). Please click on the following link to be re-directed to the video:
www.johnhancocklongtermcare.com/tools/tools_res.jsp
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