Long Term Care Insurance

If you can't look after yourself, who will? What if they can't?

Get cash to help cover the costs of your long term care (good for spouses and parents too)

Why long term care insurance?

How much does $5,000/month of long term care cost for a female age 58?

Four ways to pay

There are four ways to deal with the costs of long term care:

Public insurance: rely on the government
Self-insurance: pay out-of-pocket
Permanent life insurance
Long term care insurance

Each option has pros and cons. A combination often works best.

What long term care insurance covers

Long Term Care insurance typically provides money for you to use as you wish if you're unable to

unable to perform two more Activities of Daily Living (e.g., eating, bathing)
unable to take care of yourself due to mental incapacity (e.g., dementia, including Alzheimer's)

Some plans index benefits and give your money back if you don't have a claim.

More information

A Guide To Long-term Care Insurance (CLHIA, 2012)
Dementia numbers in Canada (Alzheimer Society of Canada)

What if you already have critical illness insurance?

Some critical illness plans include benefits for long term care. There are pros/cons.

Arrange a chat

For personal attention, arrange a chat.

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Planning tips from the Mayo Clinic

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Would long term care insurance help fund better outcomes?

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