Pre-existing conditions may explain why, even though long term care is a worry for many adults in America, only about 6% of the population has a long term care policy. Another major reason for lack of this coverage could be the cost.? Some may be able to circumvent both these drawbacks with a combination life and long term care policy.
Some of these hybrid policies available may help seniors avoid being denied coverage for pre-existing condition exclusions. If the funds in many of these policies aren?t used for long term care expenses the payment gets treated like an insurance annuity that gains interest for the life of the policy. There may also be a beneficiary clause that makes this more attractive than the traditional long term care policy.
Those who are offering in home assistance to a senior may help their loved one find a policy before any long term care needs arise. The benefits offered can be used to help pay for nursing home stays, rehabilitation centers after a bad accident and for home health services. If a person in your care has this type of policy take a look at the services we offer and schedule an appointment to discuss the care your loved one needs.