Why Consider Long-Term Care Insurance?

Long-term care insurance is a relatively new type of coverage which allows you to transfer some of the risk of needing expensive long-term care service to an insurance company in return for the payment of a premium. You should consider this type of policy to help protect income and assets, obtain quality care and avoid dependence on others, including family members and the government.

Long-term care insurance is becoming increasingly important in the workplace, something that can greatly enhance your employee benefits package and help retain your key executives. Long-term care insurance helps relieve the financial burden on your employees in the event they or a covered spouse need long-term care.

Whether you choose to offer Long-Term Care insurance (LTCi) as a voluntary benefit, which your employees pay for, or just your key executives and pay their premiums, you’re giving your employees access to quality coverage that helps them protect their financial future and your company’s bottom line.

You should consider buying long-term care insurance if you have significant assets and income that you are concerned about protecting. If you don’t have significant assets and income, you may still consider buying long-term care insurance if you don’t want to rely on Medicaid (Medi-Cal in California). Other reasons to consider long-term care insurance could be you want to remain financially independent and not rely on family or friends to provide care, or you simply want a guarantee that you or your spouse will have a choice of quality care.