LONG TERM CARE Insurance – Customer-friendly
What is Long Term Care Insurance?
Long term care insurance is designed to pay for living expenses and health care bills for senior citizens or people who become disabled before retiring. Such an insurance policy is essential for individuals who need help with daily tasks at home or at other facilities that are staffed by caregivers, nurses and other specialists in the medical field.
Who it is For
This insurance can be activated when a person officially reaches retirement age. Additionally, such coverage could also be initiated earlier than retirement if a person becomes disabled. In such a case, the individual would need to provide proof of physical or mental conditions that limit the ability to perform job duties.
How it Works
Long term insurance can be sponsored partially or fully by an employer. Within a given time period, the employer must make a specific contribution into an account that is dedicated to employees. Of course, the employees can also add money into this type of insurance plan. In order to file a claim and withdraw funds, the employer and employee must both agree on the terms and conditions. For example, it wouldn’t be possible to take out money from this policy in order to pay for basic living expenses.
Different Types of Coverage in Existence
Long term insurance pays for various types of health care services that are designed for disabled individuals and the elderly. For example, such care insurance could pay for home care that includes visitations by certified nursing assistants and nurses. Besides covering the costs of caregivers, such an insurance plan also yields funds for essential medical equipment and accessories like oxygen concentration tanks and mobility aids. Stays in nursing homes and physical rehabilitation centers can also be covered under this form of care insurance.
Senior citizens who have this insurance can enjoy peace of mind when it comes to living in their own homes, independent living facilities, assisted living facilities and nursing homes. Such an insurance plan also provides benefits for home care services that include visits by caregivers with various types of certifications.