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What is Long-Term Care Insurance?

Long-Term Care Insurance

Long-Term Care (LTC) is care that is required for an extended period of time because of medical, physical, and cognitive conditions caused by accident, illness or frailty. LTC involves receiving assistance or supervision to perform activities of daily living when these tasks can no longer be performed independently.

LTC Insurance is an opportunity to protect you and your loved ones from financial ruin due to the high and ever rising cost of care. Everyone should have a plan for long-term care. As we age, we think we can continue taking care of our own needs or the needs of our loved ones, but in reality, more times than not we are not physically, mentally or financially capable of handling these hardships.

Long-Term Care means caring for people who cannot independently take care of themselves:

  • Due to chronic medical conditions or illnesses
  • Becomes necessary when a person is unable to perform basic activities of daily living

LTC Insurance is a benefit that not only gives you and your employees peace of mind, but also relieves the burden your loved ones feel if they would need to care for you or if you need to take care of someone else.

This important benefit becomes an even greater need as our baby boomers continue to age. And with Americans living longer than ever, this means many are needing some extra help with everyday activities.

We can affordably help you manage this burden by offering only the top-of-the-line carriers. This important benefit will give you the peace of mind you and your loved ones need for many years to come.

Insurance Carriers

U-Connect offers the following LTC insurance carriers:

  • Mutual of Omaha
  • OneAmerica
  • Lincoln
  • Genworth

LTC Benefits

Believe it or not, 40 percent of the people receiving long-term care are working age people between the ages of 18 and 64. Also most people think of long-term care meaning people who live in a nursing home while the truth of the matter is close to 80% of the elderly and 41% of the severely disabled live at home. One of the most astonishing facts is less than 15% actually are in nursing homes.

It’s time to look closely at adding this benefit to your portfolio of company offerings before the cost is too great. The younger a person is when they purchase these plans the more affordable they are. Employees can lock in lower rates at an earlier age.

This benefit can either be offered by the employer OR (and is more often the case) purchased individually – no burden to the employer and paid for independently by the employee or individual.

Long-Term Care may benefit:

  • Families who want to help protect their loved ones, lifestyle and assets.
  • Retirees and Pre-retirees wanting to preserve the money they have worked so hard to save.
  • Individuals who may not have someone to care for them or significant assets to pay for these costs.

View Short and Long Tern Disability.