If you are like most individuals, you've looked forward to the freedom of your retirement.
You've set the financial groundwork and have focused on building assets to maintain your standard of living during those years or to share with your heirs.
Unfortunately, even the best-laid retirement plans can be derailed when unforeseen circumstances require a stay in a nursing home or care in the home and put your carefully nurtured nest egg at risk.
What is Long-Term Care? Long Term Care can be best defined as the broad range of skilled, custodial and other care services provided over an extended period of time in various care settings due to a chronic illness, physical disability or cognitive impairment.
Generally speaking, Long term care is associated with the ironic illnesses and disabilities.
This means that it excludes acute care services.
Acute care can be thought of as an emergency intervention or treatment that is typically brief and intense in nature.
Long-Term Care, on the other hand, involves helping individuals cope with physical and mental impairments that will not improve over time and may, indeed, increase in its severity Your basic coverage design will answer six important questions that will determine the amount of insurance and the premium for the policy: 1) When will benefits start? 2) How much will be paid? 3) How long will benefits last? 4) Where will care be covered? 5) Will policy benefits periodically increase? 6) How will the policy be treated for tax purposes? From this point it is always best to find a qualified insurance advisor to discuss the importance of Long-Term Care and how it fits in with your overall financial plan.
If you would like additional information on the products and services offered please visit http://www.
meettheelite.
net/larsav256.