Long-Term Care Insurance

Author

Stone Law, LLC

Posted on

Aug 12, 2021

Book/Edition

Colorado - Northern Colorado

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Do You Need Long-Term Care Insurance?
As our population ages, more and more people are confronting the fact that they or their loved ones may someday need long-term care for conditions such as arthritis, dementia or Alzheimers disease.


Nobody loves this topic, but we believe it is one of the most important and overlooked areas of planning today. Getting this rightor getting it wrongcould make a huge difference in your familys future standard of living.
Individuals who plan are more likely to get quality long-term care later if they need it. Long-term care insurance policies can protect people from using up all their assets or becoming dependent on family members.


Long-Term Care Insurance to Meet Your Needs
Buying long-term care insurance isnt simple. Policies come with a dizzying array of choices and optional riders. Three worthwhile features include a level premium, inflation protection and comprehensive coverage that allows for all levels of care including home health care.


Premiums vary depending on the maximum payment for daily care, the waiting period, and the length of benefits. Some policies reimburse your costs up to a prescribed daily limit. Other (more expensive) policies pay a daily amount and let you spend it as you see fit. Pay attention to what is covered: assisted living, home health care, or some combination of the two.
If youre shopping for a policy, try to get one that pays for at least four years of care. And make sure your own savings will cover the waiting period.


Finding The right Long-Term Care Insurance?
To fully understand your options, you may want to get some help from an independent agent or other source. We can help you with that process. This is not a fun task, but its difficulty pales in comparison with the hassle of needing care and discovering you dont have the coverage you thought you did.


Even if you are having trouble qualifying for long-term care insurance or an illness comes up suddenly, there are still options. Dont lose hope. Call us and we will do our best to connect you with viable options.

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Local Services By This Author

Stone Law, LLC

Estate Planning 430 East 6th Street, Loveland, Colorado, 80537

At Stone Law, we support you and your family with any aging and disability concerns. We can help make sure you have a solid plan for these and other what ifs to give you peace of mind. Our primary goal is to advocate for the elderly so no one can take advantage or manipulate a situation to their benefit. We aim to make sure your needs and wishes are met. We will always be sensitive to your needs and emotions. We also recognize that issues and concerns are broader than simply addressing legal needs and can help facilitate partnerships with other helpful agencies.

Stone Law, LLC

Elder Law 430 East 6th Street, Loveland, Colorado, 80537

There are so many issues that can addressed with effective estate planningfrom something as simple as a will to a complex trust specifying who gets what finances from your estate and how they can use the fundsyour worries and concerns can all be taken care of. We can also include special planning for those with disabilities who need additional support. With proper estate planning, you can ease the burden on your loved ones following your death or illness. Stone Law can help you plan for whatever you and your family need.