Neal Benefits

Long-Term &

Short-Term Care (LTC)

 

Long-term care includes the care you need when you can no longer perform the day-to-day activities normally associated with independent living due to chronic illness, disability, disease or merely as a result of the frailties of aging. This includes performing everyday activities like bathing, dressing or eating. This assistance can be provided in your home, community, or at an assisted living facility or nursing home.

 

It’s likely that you or a family member will need long-term care at some point in your lifetime. Currently, it is estimated that, on average, a 65-year-old today has a 70 percent chance of needing some type of long-term care. This could include both care from a paid provider or care from family or friends. Your chance of needing long-term care services are greater if you are older, are female, or possibly due to a family history of longevity or debilitating disorders.

 

 

Long-term care insurance provides benefits to help you and your family manage the potentially significant costs of long-term care. It helps you to protect your financial assets so that you and your family will have the financial resources to pay for the care you may need and can focus on your life together instead of worrying about your finances. This takes the potential burden of care off of your family and gives you the peace of mind that you will be able to afford the type of care you need and choose. Long-term care insurance costs only a fraction of what it would cost you if you had to pay for your care needs completely on your own.