Protect your wealth with a long term care insurance program
As many families today must grapple with the challenges of providing long term health care for aging or ailing loved ones, the value of a long term care insurance program becomes evident. Long term care is needed when one can no longer manage routine daily activities like eating, bathing or dressing. Long term care providers offer various levels of assistance – from occasional intermediate care to daily skilled care services to custodial care in an assisted living or nursing home. But long term care can be very expensive – the national average for one year in a nursing home is $74,460. A long term care insurance program is designed to help pay for the long term care and to protect your assets and your family against these increasing costs. When choosing a long term care insurance program, consider the trusted and innovative products from John Hancock.
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John Hancock – innovative long term care insurance program options
As the largest life insurance company in North America* and market leader in long term care insurance**, John Hancock can provide a long term care insurance plan customized to fit your needs. In addition to innovative coverage programs for all kinds of care in home, community, assisted living and nursing home facilities, John Hancock provides a wide range of optional features enabling you to tailor your insurance program to your needs and help protect your savings from the cost of long term care.
Because long term care insurance cost is lower when you are younger and healthier, it’s best to begin a program sooner rather than later. John Hancock representatives can help you determine which long term program the best long term care insurance for your family and your budget.
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How much insurance coverage should your program have for good long term care?
There are several things to consider when choosing a long term care insurance program:
- Levels of assets you want to protect. A long term care insurance program should be part of a comprehensive retirement plan to build and protect the wealth you need to retire and to provide for your family.
- Current cost of care where you live or plan to retire. Costs for long term care vary from state to state, and knowing where you plan to live or retire can help determine the level of coverage you may need.
- Length of coverage. Research suggests that the average time for long term health care is three years, but you will want to take into account your family history and your current health.
- Inflation protection. Planning for the rising cost of health care is an important part of any long term care insurance program.
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*Thomson Reuters, market data as of October 30, 2009.
**According to LIMRA, an industry research and consulting group
