Long Term Care insurance has changed dramatically over the past decade. The days of unlimited life time benefits are gone. The traditional policies are still available but usually with a maximum length of the coverage lasting no longer than 5 years. To help clients cover these expenses new products are entering the market which are known as linked product that tie long-term care to life insurance policies.
Long Term Care includes a wide range of medical and support services for people with a degenerative condition (say Parkinson's; or those that occur after a stroke), a prolonged illness (cancer) or a cognitive disorder (Alzheimer's).
Younger people need long-term care as a result of accidents (falling off roofs and motorcycle accidents especially for men) or illnesses that tend to inflict younger people like Multiple Sclerosis.
Long Term Care is not necessarily medical care but rather "custodial care." Custodial care involves providing individual assistance with activities of daily living or the supervision of someone who is cognitively impaired. To better understand Long Term Care, think of the activities that you performed when you woke up this morning. You probably stepped out of your bed, walked to the bathroom, used the toilet, took a shower, got dressed, ate breakfast…When you are healthy it is easy to take for granted these Activities of Daily Living (ADLs).
However, when you or a loved one is stricken with a degenerative condition such as a stroke or Alzheimer's, performing these ADLs become impossible without the assistance of another person. As we age, performing these simple functions becomes difficult, often impossible.
This type of care is what Long Term Care means. It is the same type of care that a parent must provide for their new baby. This type of care is chronic (full-time) and thus becomes very expensive. Long Term Care can be provided in many settings including nursing homes, your own home, assisted living facilities and adult day care.
Before selling any long term care products please contact our office to verify that you have met all of the pre-training requirements including the 8 hour long term care CE training required by the state of Oklahoma or your resident state and the 4 hour refresher course.
For more information and quotes, please email firstname.lastname@example.org.