Features of long term care insurance
- Provides money for in home or nursing home care.
- Available for people aged 40 to 80.
- Perfect for those approaching retirement age, who do not want to become a burden on their family.
- Daily benefit available from $10 to $300 a day.
- Having a policy is like having your own private medical plan. You can now afford the service you want, so you no longer depend on provincial health care.
- At some point in their lives, 8 out of 10 people will require some form prolonged care.
- The cost of care can easily be upwards of 40 to 60 thousand dollars a year, making long term care insurance a must for retirees.
- You have permanent coverage, but premium payments are generally limited to 20 years.
Major uses of long term care insurance
- Protect hard earned retirement savings.
- Maintain independence and dignity.