In the event of a tragedy, life insurance proceeds can help pay the bills, continue a family business, finance future needs like your children’s education, and protect your spouse’s retirement plans. To learn more about life insurance , click on the links below.
Long-Term Care Insurance
It is important to help protect your loved ones from financial, physical and emotional burdens if you should require long-term care. Long-term care is the assistance or supervision you may need when you are not able to do some of the basic activities of daily living. You may need assistance if you suffer from an injury like a broken hip, an illness or a stroke. Others may need help because of mental deterioration called severe cognitive impairment that can be caused by Alzheimer’s disease, other mental illness or brain disorders.
We at Kades-Margolis offer Long-Term Care Insurance (LTC or LTCI) to help provide for the cost of long-term care beyond a predetermined period. Long-term care insurance covers care generally not covered by health insurance, Medicare, or Medicaid. Individuals who require long-term care are generally unable to perform the basic activities of daily living (ADLs) such as dressing, bathing, eating, toileting, continence, transferring (getting in and out of a bed or chair), and walking. About 60 percent of individuals over age 65 will require at least some type of long-term care services during their lifetime. About 40% of those receiving long-term care today are between 18 and 64. Once a change of health occurs, Long-Term Care Insurance may not be available.
Long-Term Care Insurance generally covers home care, assisted living, adult day care, respite care, hospice care, nursing home and Alzheimer’s facilities. If home care coverage is purchased, long-term care insurance can pay for home care, often from the first day it is needed. It will pay for a visiting or live-in caregiver, companion, housekeeper, therapist or private duty nurse up to seven days a week, 24 hours a day (up to the policy benefit maximum).