Long-Term Care Insurance

• Cost of a policy depends of your choices things to consider

Current Age

• The earlier you buy the cheaper the premiums but the longer you are paying premiums

• Amount of Coverage

• Ranges from partial to enough to cover the whole daily rate (example: $50 to $200 a day)

Length of Coverage

• 3 yrs., 5 yrs., lifetime

• The longer the pre-waiting/elimination period the lower the premiums (example: 20 to 100 day wait)

When Does Coverage Apply

• Should include Alzheimer’s and other brain diseases

• If unable to ... bathing, dressing, toileting, continence, eating, transferring (any where from 2, 3 to all of these)

• Home care, “assisted living”, adult day care, case management riders

• SNF only policies are cheaper, don’t buy home care only policies

Inflation Option

• Young buyers should consider to preserve future value

• Older buyers (late 70s) should consider the value of the option

Reliable Company

• Highly rated, committed to LTC insurance

• NYS Partnership type of policies (check out www.nyspltc.org on the internet)