Long term care services address the health, social and personal care needs of individuals who have lost the ability to care for themselves. While a certain degree of public support is available, government programs are not comprehensive and long term care services can be costly.
There are many misconceptions about what the government provides and pays for, and what extended health care benefits cover. It’s important that you understand exactly what your benefits, through your employer, association, or the government cover, and what the limitations are.
Long term care insurance helps to give you funding and flexibility in a time when costs are increasing, and your options may be limited, meaning:
- You have more choices around the kind of care and amount of care you’ll receive.
- You are not limited to only professional care (your family, even friends can provide care for you)
- Your savings and investments can be preserved.
- Flexibility and choice on how you’ll spend your money
- Peace of mind to enjoy your hard-earned money during retirement rather than saving for the possibility that you may need to cover long term care expenses
- The quality of care you want with the dignity you deserve.
Your advisor can work with you to develop a complete understanding of how these and other risk management services can fit into – and protect – your financial picture.