Many Americans are misinformed about the cost and financing of long-term care and do not know where to turn to find clear, reliable, and comprehensive information.

Long-term care (LTC) insurance is important coverage that provides valuable support and financial resources that help cover the cost of long-term care you might need in the event of an illness, accident, or through the normal effects of aging. By helping to protect your assets, and giving you choice and control over where you receive care—including in your home—LTC insurance helps you and your family face the future with confidence.

There are actually several reasons why you should buy Long-Term Care insurance:

• Protect your family - Long-term care insurance provides benefits to help you and your family manage the potentially significant costs of long-term care.  Long-term care insurance takes the potential burden of care off of your family and gives you the peace of mind that you will be able to afford the type of care you need and choose.
• Protect your finances - Long-term care insurance helps you to protect your financial assets so that you and your family will have the financial resources to pay for the care you may need and can focus on your life together instead of worrying about your finances. Long-term care insurance costs only a fraction of what it would cost you if you had to pay for your care needs completely on your own.
• Maintain independence - You plan and choose now for your future care and care giving. You may want to opt for home care, assisted living care, or choose a nursing facility that best meets your standards and needs. Choice is not available with most government-funded care. By having the options that come with a private long-term care insurance policy you can maintain your independence and stay in your own home as long as possible.
• Long Term Care Insurance Allows You To Stay In Your Home Longer - When you think of long-term care insurance, you likely think of a facility; somewhere that’s not your home. The reality is most long-term care policies today cover in-home care, as well as out-of-home care. In 2007, over 1/3 of the claims paid were for home care services.
• Control over the quality of care - Increasingly, people of all ages are beginning to buy long-term care insurance.  Most likely this is due to increased education and the startling statistics we are seeing.  Many individuals decide to purchase long-term care insurance to protect their assets and to insure a choice in the quality of care that they deserve.  The majority of our policyholders that end up needing care can remain independent, not burden family members with constant 24-hour care, or alter their standard of living.  When selecting a policy, it’s important to select a policy that not only you can afford but also meets your needs. There are many insurance policies covering LTC today.  Policies can vary widely in terms of benefits they’ll offer, terms of the contract, and features. Some can be used to pay family and friends for their care.
• Protect your children’s inheritance - The biggest risks to your retirement income and your children’s inheritance are unexpected illness and high healthcare costs. Government programs are often of little assistance when it comes to paying for nursing homes and other forms of long-term medical care. Medicare covers nursing-home stays for a very limited period of time, and Medicaid requires that you spend almost all of your own money before it pays for long-term care. You cannot simply transfer assets to family members to qualify for Medicaid, as the program restricts benefits if asset transfers were made several years prior to a nursing-home stay.

If leaving a legacy to your family is important, LTCi as a way to make sure that the fruits of your labors are passed on to the next generation.