Long-term insurance plans exist to provide income wherever and whenever needed. Most commonly used by the elderly, long-term insurance allows for coverage on services that vary by policies and the type of insurance provider you choose. Read about the types of insurance plans and services we offer to secure your investments and savings during life mishaps.
Skilled Care Plan
With this plan, a qualified nurse will take care of the ill or injured patient. The patient is treated in a nursing or long-term care facility which may include rehabilitative services and health-care services given by doctor’s orders. Medicare may only pay a portion of these services if the patient meets all of the requirements. Therefore, you should avoid paying out of pocket for these expenses and consider a long-term care insurance plan.
Traditional Long-Term Care Insurance Policy Plan
You have the flexibility to pay an annual premium through long-term care policies. This gives you the option to choose the amount of coverage you want, how long you want it for and even how long you have to wait before receiving these benefits. Remember that long-term care gives you a monthly income that will cover everyday expenses and medical costs.
Long-term Hybrid Care Policy Plans
There are many different types of hybrid care insurance policies. The most common, however, include asset-based policies that include whole life insurance policies. The upfront or fixed-rate premiums offered also help with full paid death benefits if the policy is never used. If it is used, there are options for the continuation of benefits. A hybrid long-term care annuity offers an investment that grows tax-free where full benefits coverage is drawn from the account value and care pool.
The employer-sponsored plan is an opportunity for employees to receive long-term care benefits. Care Financial works with employers to help employees get this in their package during open enrollment.
Individual Insurance Plans
At Care Financial, we have agents to help you set up an individual insurance plan, especially if you’re employer does not offer it. If you have other family members you would like to add to your plan, you also have the option for a joint policy. Please be sure to consult with our agents about any exceptions that may not be covered.
Care Financial is a privately owned and operated business providing families, individuals and businesses with comprehensive wealth management strategies. Contact us online at www.carefinaicialonline.com or call us at 251-633-7122.