Longer life expectancies and rising healthcare costs are just two factors that make it important to find solutions for medical assistance as you age. Long-term care insurance lessens the financial burden on your spouse and family of high cost healthcare.
Long-term care insurance covers three very different types of care. There’s skilled care for serious injuries or illnesses that require daily medical attention. Serious injuries or illnesses that don’t always require daily attention are best served by intermediate care. And for assistance with things like eating and bathing, there’s custodial care.
Simply put, getting long-term care insurance as you get older becomes increasingly expensive. Buying it early on helps keep keeps your premiums down. It also helps protect your family assets if you suffer a serious illness or accident.
Typically the most affordable type of long-term care insurance, you should buy a policy for as much care as you expect to need. Benefits cover both in-home and nursing home care.
Some non-traditional long-term care insurance policies are life insurance policies, while others are annuity policies. Non-traditional long-term care insurance offers extra features that can help pay the cost of long-term care (while still providing benefits for your family).
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Located at: Hancock Whitney Financial Consultants, 525 Florida Avenue SW, Denham Springs, LA 70726, 1-800-385-4188
Hancock Whitney Financial Consultants is a marketing name of Cetera Investment Services. Securities and insurance products are offered through Cetera Investment Services LLC (doing insurance business in CA as CFG STC Insurance Agency LLC), member FINRA/SIPC. Advisory services are offered through Cetera Investment Advisers LLC. Neither firm is affiliated with Hancock Whitney Bank where investment services are offered or Hancock Whitney Corporation. Individuals affiliated with Cetera firms are either Registered Representatives who offer only brokerage services and receive transaction-based compensation (commissions), Investment Adviser Representatives who offer only investment advisory services and receive fees based on assets, or both Registered Representatives and Investment Adviser Representatives, who can offer both types of services.
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