Absolute Retirement Solutions can offer you LTC policies from a number of the country’s top long term care insurance providers. Most modern LTC policies are comprehensive, meaning they usually allow you to use your daily benefit to pay for care services given in your home, adult day service centers, assisted living facilities, nursing homes, etc.
Your premium payments are based on a number of factors, including your age and health status at the time you are purchasing coverage. Sex also plays a role; women typically pay more for LTC insurance than men. That’s because they live longer on average and make more LTC insurance claims statistically. Married couples can get lower premiums than single people. Premiums will also depend on the amount of coverage you desire; if you want higher daily limits for your benefits, you’ll need to pay higher premiums.
Long term care insurance policies allow you a daily benefit amount. It can cover the cost of services that assist with activities of daily living (ADLs). Individuals who need long term care are typically unable to perform at least two out of the six official ADLs without assistance. Those ADLs are:
- Getting dressed
- Bathing/grooming
- Eating
- Using the toilet
- Transferring in and out of beds and chairs
- Walking