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 $132,648/year. In the Long Island area, it is $166,008/year.** Click this link https://nyspltc.health.ny.gov/rates.htm to find the cost of care in your area.
  • 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.


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

*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.


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