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July 2, 2014 By Julian

Costs & How To Pay

Video-jpg_LongTermCareVideoJust as there are many kinds of long-term care services and supports, so is there a wide range of costs for them. And while some people may qualify for a public program to help pay for these expenses, most people use a variety of options, including long-term care insurance, personal income and savings, life insurance, annuities and reverse mortgages to ensure they can pay for the care they require.  As our population ages, new financial products are offering yet more options.

Important questions answered in this section:

  • What are the costs of care?
  • Does disability or health insurance cover long-term care?
  • What is long-term care insurance?
    • What it covers
    • When your coverage begins
    • How to buy it
    • Where to look for it
    • What the costs are
  • How can I use life insurance to pay for long-term care?
  • What are other ways to pay privately?
    • Reverse mortgages
    • Annuities
    • Trust

GO HERE TO VIEW VIDEO: http://longtermcare.gov/costs-how-to-pay/

Source: U.S. Department of Health and Human Services, “Costs & How To Pay” http://longtermcare.gov website. Accessed November 30, 2015. http://longtermcare.gov/savings-calculator/

© Copyright 2016. All rights reserved. This content is strictly for informational purposes and although experts have prepared it, the reader should not substitute this information for professional insurance advice. If you have any questions, please consult your insurance professional before acting on any information presented. Read more.

Filed Under: Health & Benefits, Personal, Theme 48

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