Long Term Care Insurance in Charlotte, NC

Protecting The Gold In Your Golden Years.

Unlike traditional health insurance, long-term care insurance is designed to cover long-term services and supports, including personal and custodial care in a variety of settings such as your home, adult daycare, assisted living facilities and nursing homes.The cost of Long Term Care is growing dramatically and can easily destroy retirement savings. A new case of Alzheimer's disease is diagnosed every 70 seconds eventually requiring care until the end of life. As Americans live longer, Long Term Care Insurance is becoming an essential insurance for most people.

Long-term care insurance policies reimburse policyholders a daily amount (up to a pre-selected limit) for services to assist them with activities of daily living such as bathing, dressing, or eating. One can select a range of care options and benefits that allow coverage to be custom designed for individual desires.

The cost of your long-term care policy is based on:

• How old you are when you buy the policy
• The maximum amount that a policy will pay per day or per month
• The maximum amount a policy will pay
• Any optional benefits you choose, such as benefits that increase with inflation

If you are in poor health or already receiving long-term care services, you may not qualify for long-term care insurance as companies require medical information prior to approving coverage. In some cases, one may be able to buy a limited benefit or coverage at a higher "non-standard" rate.

The Source Of Some Of This Information: USA.gov

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The Partnership Act

If one runs out of income and liquid assets and must go on Medicaid, upon the death of the individual and his/her spouse, Medicare will attempt to recover from the estate the amount paid for the care. The Partnership was an act passed in many states. If a Long Term Care policy is purchased in conformity with The Partnership, money paid by this policy will offset what can be recovered by Medicaid. For example: A policy is purchased for $200,000 in conformity with The Partnership If the policy holder goes into long term care and uses up this $200,000. If he/she goes into a Medicaid facility, the first $200,000 paid by Medicare will not be sought upon his/her death.