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Long Term Care Insurance - Manhattan & Westchester County, NY, Fairfield County, CT & New Jersey

A study recently came out from a nonprofit life and health organization showing that chances are about 70% that sometime after age 65 long-term care will be needed for individuals. What’s more, the median cost of a full-time nursing home room is $81,030 per year. The national median hourly rate for a licensed home health aide is $19, which would total $55,480 a year for eight hours a day of care. What’s more, generally, health insurance –  including Medicare – will not pay for custodial care when you have a long-term disability or illness, which is why Long Term Care is crucial.

The expense of long-term care could add up very quickly and can take a toll on a family – even those with significant resources at their disposal, especially if you want to be selective in your choice of facilities (including at-home care) and services, which will run well over the median cost. Long-term care insurance can alleviate the financial burden on a family, and provide a safety net so that you don’t have to pay out of pocket and the wealth you accumulated stays intact.

At A.J. Benet, we’ll be happy to discuss the options available under various long-term care plans. Long-term care insurance generally covers home care, assisted living, adult daycare, respite care, hospice care, nursing home and Alzheimer’s facilities. If home care coverage is purchased, long-term care insurance can pay for home care, often from the first day it is needed. It will pay for a visiting or live-in caregiver, companion, housekeeper, therapist or private duty nurse up to 7 days a week, 24 hours a day (up to the policy benefit maximum). Most policies have an elimination period, which begins when you meet the policy’s terms for qualifying for benefits and you start paying for services from a qualified provider.

It’s best to purchase this type of coverage around age 50, and not wait until you approach retirement. If you wait too long, you may develop conditions, such as diabetes or high blood pressure, which can disqualify you for the best rates for your age or cause you to be ineligible for coverage.

Insurance for every need, including long-term care.

Our staff is ready to go over the plans available to you and what makes best sense for your specific situation. Give us a call at (888) 639-4560, email us, or return the form on this page, and one of our advisors will give you a call. Since 1964, A.J. Benet has been serving individuals, residents, and businesses from Manhattan to Westchester County in New York, Fairfield County in Connecticut, and New Jersey.