Long term care plans can help secure your family’s financial future
Long term care plans provide much-needed assistance when one can no longer manage day-to-day tasks like eating, dressing and bathing. Long term care plans are typically required because of advanced age or because of injury or the onset of illnesses such as multiple sclerosis, rheumatic arthritis, stroke, Alzheimer’s or other diseases. While the level of care provided depends on the nature of the condition, the cost of care is quite often very high – up to nearly $75,000 per year for a private room in a nursing home.* Depending on how long care is required, such assistance can have a significant impact on retirement savings and on the financial future you have worked so hard to provide for your family. Long term insurance is designed to not only help cover the cost of long term care plans, but to avoid or minimize the impact such care may have on your family’s finances. When considering long term care insurance rates, John Hancock provides innovative options for customized long term care plans.
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John Hancock provides customized long term care plans
As one of the nation’s leading providers of longterm care insurance, John Hancock offers a variety of coverage options that can help you feel confident about your future and give you the resources to help cover the cost of long term care plans. With a long term care insurance plan for insurance from John Hancock, you can minimize the financial exposure of long term care and help protect the wealth you have built for your family. Long term care plans also reduce the financial and emotional burden on loved ones by reducing the financial uncertainty long term care can create and providing more choices for where and when care can be received. When you work with John Hancock to customize your long term care plans, you know you have the support of a financial services leader with more than 145 years in the insurance business.
When is the right time to consider plans for long term care?
There are two reasons to develop your plans for coverage of long term care sooner rather than later.
- Your long term care insurance rate is based on your age and health when you apply. The younger and healthier you are, the lower your long term insurance premium can be.
- If you incur an accident or illness when you are relatively young, the cost of long term care would likely be much higher, make the need for long term care insurance much greater.
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** Based on the average annual rate of inflation over the past 30 years ending December 31, 2008 of 4.1%, using the Consumer Price Index for All Urban Consumers, Bureau of Labor Statistics, www.bls.gov.
