Long-Term Care Insurance

Long Term Care Insurance (LTC) is designed to protect individuals from the high expense of care in Skilled Nursing, Intermediate and Custodial Care facilities. It may also include Home Health care. It has been recognized as an important piece of financial planning for the protection of assets. Individuals mid-50's onward are the usual interested parties but Long Term Care insurance is sold by some insurance companies as early as age 45. Premiums increase as an individual ages so it can be prudent to buy it early. One in 4 people who make age 60 will use Long Term Care facilities and the percentage increase dramatically as one ages.

Long term care is heavily underwritten. Medical records are obtained and carefully reviewed. Long Term Care policies are triggered (activated) by "activities of daily living" (ADL's). Usually three activities of daily living must apply for a policy to kick in. ADL's include:

  • Eating

  • Dressing

  • Bathing

  • Ambulating

  • Transferring

  • Toileting

  • Cognitive awareness

Cognitive awareness is the only trigger that works by itself. Cognitive awareness includes different forms of senile dementia and Alzheimer's disease.

LTC is purchased in $10/day increments (e.g. $100/day will equal $3000/month in a 30 day month). Facilities can run as high as $5-6,000.00 a month in Northern California and may be more expensive in urban areas. LTC comes with a variety of riders that should be carefully considered before purchase. Home Health Care is designed to pay for care in your own home and is extremely important to consider.

LTC is very complicated and confusing. A knowledgeable and certified agent is a must for this line of insurance.
Anderson Robinson Starkey Insurance Agency, Inc. is one of 100 Small Group Agents in California selected as a 2007 Bluestar Agent recipient.
Steve Justus
Lic #0614156		 Robyn Allen
Lic #0D52817
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Who needs Long-Term Care Insurance?

Most of us need Long-Term Care Insurance, but few of us buy it. Put another way, anyone who has assets to protect needs Long-Term Care (LTC) Insurance. Given the high percentage of people who will find their way to a long-term care facility, most of us would like to accomplish at least these three things:

1. We want to make sure we have money for a decent facility.

2. We want to make sure that our spouse remains comfortable.

3. We want to preserve as much of our estate as possible for our children.

If you want to make sure, then insure.

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Long-Term Care is expensive.

You may have an estate that can bear part of the expense. You are not required to insure to full value.