A Comprehensive plan provides benefits for insureds receiving extended healthcare from a licensed health care provider in a variety of settings, from ones' home to residing in assisted living or a nursing home.
Benefit amounts are determined by the maximum monthly benefit purchased and are paid out based on actual costs up to the daily or monthly benefit limit.
While most agents only "traditional" tax qualified plans, we focus on a more modern policy design which offers, most importantly, premiums that are guaranteed to never increase.
Our Preferred Product also features up to lifetime benefits, an "monthly" benefit amount and an underlying death benefit that is paid out less claims at death of the insured.
Hybrid long-term care products provide benefits for insureds receiving care healthcare from a licensed health care provider and diagnosed as "chronically ill".
The amount of benefit payable is based on a preset percentage of a life insurance policy death benefit.
People who have a current need for life insurance but who would also like the option to use some or all of the life insurance benefit as a "pool" of funds to help offset extended health care costs may favor this type of plan.
By combining benefits into one policy many can get started earlier in life while premiums are lower for them.
When considering the costs of extended healthcare it is important to realize that often a person's need for assistance is first handled by a spouse, child or other caring person. And it is "normal" as a person's needs progress that they first turn to having a health care professional provide them with assistance at home.
Our Preferred Products features a 0 day waiting period for care in your home with a easy to understand schedule of benefits and in most states includes a prescription drug benefit providing benefits for both generic and name brand prescriptions which can greatly offset your premiums.
It's very affordable & offers simple application based underwriting.
First, we generally prefer individually owned, private products rather than group plans. Product premium stability being a primary concern. Having low group premiums may seem nice while you are working but come retirement and having to figure out what it will cost to continue your policy is an uncertainty that we prefer to help you avoid.
Our preferred Comprehensive and Hybrid products feature Guaranteed Premiums and benefits payable for any level of care. Our preferred home health care policies are guaranteed renewable for life and features a zero day elimination period for benefits for care at home.
Obviously, we work with people who have different financial concerns, coverage needs, budgets and sometimes health challenges so we have multiple carriers and products to best address individual situations.
Planning ahead is simply smart and with us it is easy to do. When you are ready to review your specific concerns or needs and have us help you with your Long-Term Care financial planning please contact us.
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