Individual Long Term Care
Forty percent of all Americans currently receiving long-term care services are between the ages of 18 and 64. The amount of money needed to pay for long-term care is staggering. In fact, long-term care services average $40,000 a year and often exceed $100,000 annually.
Long-term care insurance is coverage that pays for the cost of care received in your own home, nursing homes, adult day care centers or hospice facilities. The type of services provided are generally not medical, but custodial care. Long-term care benefits are payments in the event an insured is unable to perform 2 of the 6 Activities of Daily Living (ADL's). The six ADL's are: getting out of bed, walking to the bathroom, using the toilet, taking a bath or shower, getting dressed and eating breakfast.
Long-term care insurance is now available to Cultural Alliance members and their employees on an individual basis. Coverage can be purchased for yourself, spouse, parents, grandparents or in-laws. This individual coverage is offered through Commonwealth Investment Management Group, LLC.
- Provides custodial care to individuals who can't perform 2 of 6 ADL's
- An individual policy discounted at a minimum of 10%
- Discounts up to 25% if spouse is included in policy
- Benefit limits are for 2, 3, 4, 5, 6 years, or lifetime
- Flexible eligibility periods
- Covers care for degenerative conditions like Parkinson's, stroke, etc.
- Covers care for a prolonged illness like cancer
- Covers care for cognitive disorders such as Alzheimer's Disease
- Covers care received at home, a nursing home or long-term care facility
- Covers long-term care not provided by Medicare or Medicaid
- Policy is guaranteed as long as premiums are paid
- Benefit payments are tax-free when premiums are paid with personal funds
Complete the Online Questionnaire...
To see if you qualify, complete our confidential online questionnaire.
Visit our Long Term Care Frequently Asked Questions.
For more information, Vicki Devlin.