Long-Term Care: Prepare for the Future

You have worked hard as a Nurse to make sure you have the financial security you want for you and your family. And, you have tried to prepare for the surprises that life may bring in the future. But even the most well-thought-out strategy may not be enough to prepare you for the unexpected costs associated with Long-Term Care needs.

With Americans living longer than ever, due to advancements in health care, most of us will need some extra help with everyday activities as we age. The benefits of Long-Term Care go beyond what your health insurance may cover by reimbursing you for services needed to help you maintain your lifestyle if age, injury, illness, or a cognitive impairment makes it challenging for you to take care of yourself.

Even so, planning for Long-Term Care is an easy thing to put off. Maybe you think you are too young, can not afford it, or simply do not need it. But, if you want to help preserve choices about future care and have retirement assets and personal savings to protect, then Long-Term Care coverage could be the right plan for you. Here are 10 reasons why it may make sense for you:

  1. To help protect your assets and personal savings.
  2. To help preserve your quality of life
  3. To have options for your care---with Long-Term Care insurance, you can choose to participate in deciding where and how to receive care.
  4. To have access to appropriate care---the right policy helps ensure that the care you receive will be appropriate for your needs.
  5. To relieve the burden of care from loved ones.
  6. To help leave your assets to your family, friends or charity---Long-Term Care services are expensive and, without proper planning, can quickly use-up a lifetime of savings.
  7. To gain access to a professional care coordinator in a time of crisis. A professional can help you and your family co-ordinate your Long-Term Care needs, which may include locating special services to help with a particular illness, injury or condition.
  8. To enable you to stay in your home for a longer period of time---comprehensive Long-Term Care insurance offers you the option of staying in your home for as long as possible.
  9. To stay with children without depending on them for care---Long-Term Care insurance may make it possible for a parent to stay in a childs home without being dependent on him or her.
  10. To help you and your family plan for the future.


What to Look For In a Long-Term Care Insurance Policy

- Daily/monthly benefit amount: this is the amount your policy will cover toward your Long-Term Care needs for one day or, one month. The amount of the benefit you choose will depend on many factors including how much you think it might cost you for LTC services in the area where you believe you will need Long-Term Care.

- Elimination period: this is the period of time you must wait before becoming eligible to receive covered benefits. The elimination is the Long-Term Care insurance equivalent of a deductible or out of pocket expense, just like your automobile or health care insurance. But, unlike other deductibles, it is based on time, not a dollar amount.

- Benefit period: this is the specific period of time during which you will receive covered benefits.

- Inflation protection: this feature helps you keep pace with the rising costs of health care services. When you choose this option your benefits will increase each year to stay in step with inflation.

- Premium discounts: these discounts may be available if you qualify for preferred level of health or a couples discount along with American Nurses Association discount.

- Care coordination: the services of a health care professional can assist the policy holder/family, through the process of designing a personalized plan of care.

- Activities of Daily Living (ADLs): the benefit trigger for many Long-Term Care insurance policies involves the policy holder needing help with 2 or more of the activities of daily living for a period to last 90 days or more. ADLs include bathing, eating, dressing, toileting, continence, transferring and cognitive impairment.

- Free policy look provision: allows the policy owner to inspect the policy for a period of 30 days after receiving the policy. During this 30 day period the policy may be returned for a complete refund.

* Note: Your ANA LTC Personal Benefit Advocate will review all aspects of the coverages in detail.

For your free, no obligation consultation with an ANA, LTC advocate, please call us at