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Long-Term Care Insurance
Long-Term Care Insurance is probably the least understood insurance product and can be one of the most valuable addtions to your insurance portfolio.
What exactly is Long-Term Care? If you were to become unable to care for yourself because of a prolonged illness this coverage would provide coverage for your care. Whether you receive home care or need to enter a nursing home.
A Long-Term Care plan will allow you to maintain:
- your dignity and independence,
- your financial security,
- and stay in your own home when at all possible.
Many people think our health system is designed to cover the costs of long term are . . . think again:
- Medicare only cares for short-term benefits (a maximum of 100 days) for skilled care in a nusing home, following a three day hospital stay.
- Medicare only pays for part-time skilled home health visits. Eight hour shifts are not included.
- Medicare only pays for nusing home care once your assets won't continue to cover the cost.
With advances in medical sciences, Canadian's are living longer. Unfortunately with age comes more sickness and a decreased ability to care for ourselves. Long-Term Care Insurance should be considered whether you are 30 or 75 years of age. At any time or age an accident or illness could strike.
For more information on Critical Illness or to request a proposal, call Wilson Insurance at 506-458-8505 or e-mail us at wilson@wilson.nb.ca. Our Benefits Team will be happy to help.