Long Term Care & Disability
Protecting your Health and Financial Well-BeingLong-term care insurance is a type of insurance policy that covers the costs of long-term care services, such as nursing home care, assisted living, and home health care. It provides financial support to individuals who require assistance with activities of daily living, such as bathing, dressing, and eating, due to chronic illness, disability, or cognitive impairment.
One of the primary reasons to have long-term care insurance is to protect your assets and ensure that you receive the care you need without depleting your savings. Long-term care services can be expensive, and health insurance and Medicare typically do not cover these costs. Long-term care insurance provides a safety net to help you pay for these expenses and maintain your financial independence.
Another critical consideration is the impact of long-term care on your family. Long-term care services can be physically and emotionally demanding for caregivers, who are often family members. Long-term care insurance can provide peace of mind to both you and your family, knowing that you have the resources to pay for the care you need and that your loved ones will not be burdened with the responsibility of providing care.
How much coverage do you need?
Important factors to consider.When determining the appropriate amount of long-term care insurance, it is important to consider various factors such as your age, health status, family history, and retirement plans. These factors can all influence the amount of coverage you need. For instance, if you have a family history of chronic illnesses, you may need more coverage than someone without such a history. Similarly, if you have a high net worth, you may need more coverage to protect your assets.
Consulting with a FRP Personal Risk Manager who understands the complexities of long-term care insurance is crucial. We can help tailor a long-term care insurance strategy that aligns with specific objectives, ensuring that you have the right coverage in place to safeguard your financial well-being and quality of life.
How to get Started
A plan tailored
to your needs.
After taking time to understand your coverage needs, a personal risk manager will prepare a custom plan designed to protect what's important to you. We take a holistic approach to risk management that looks at your entire portfolio of risks to ensure you are properly covered. No detail is overlooked.
