Long-Term Care (LTC) Insurance

Why Purchase LTC Insurance?

  • With Americans living longer, the need for long-term care is high. 70% of people turning 65 can expect to use some form of long-term care during their lives.*
  • The cost of long-term care continues to increase each year. LTC Insurance can help cover these costs. The average cost of care in a nursing home in Western New York is $146,892/year. In the Long Island area, it is $176,016/year.
    ** Find the cost of care in your area by visiting https://nyspltc.health.ny.gov/rates.htm.
  • Caregiving is not a short-term proposition: While almost half of caregivers have been providing care for their loved ones for more than three years, one in four has been doing it for five or more years.***
  • LTC Insurance can help ease the financial, emotional, and physical strain your care can put on your loved ones.
  • LTC Insurance can help you maintain your freedom and give you the control to determine how and where you receive care.
  • LTC Insurance can help to protect the assets you have worked so hard to build.

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Important Features of our Endorsed LTC Insurance:

  • Tax Qualified

    Affords you tax advantages including a state tax credit of up to 20% depending on your income, as well as federal tax deductions based on age.

  • Compound Inflation Options

    To build your benefit amounts to help prepare for the increasing costs of care in the future.

  • Cash Benefit

    A portion of your policy in cash can be very helpful as you develop a more permanent plan of care.

  • Home Health Care Options

    To help keep you in the comfort of your home for as long as possible.

  • Facility Care

    Will pay to reserve your bed should you need to leave the facility for any reason. You don’t want to have to leave your “new home” after settling in.

  • Built-in Care Coordinator

    A licensed health care professional to help you and your loved ones create an individualized plan of care to meet your specific needs.

  • Included benefits such as Respite Care, Waiver of Premium, and an International Benefit.
  • Optional benefits for partners applying together to maximize your care and benefits.
  • Discounts

    • 5% savings for eligible Medical Society members and their partners
    • 15% savings when you and your partner are both issued a policy
    • 5% savings when you and your partner both apply, and one policy is issued
    • 15% savings for a preferred health rating

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*2019 US Department of Health and Human Services, www.longtermcare.gov

**2021 New York State Partnership for Long-Term Care, https://nyspltc.health.ny.gov/rates.htm

***The Senior Care Index Report - Care.com

Information provided is a summary only. For complete terms and limitations, please refer to the applicable Certificate or Policy of Insurance. Specimen copies available upon request.