Long Term Care Insurance

The need for home care is often unpredictable, but being prepared can be a true fortune when the time comes. Today, home care services are no longer just a choice—they are essential to keeping our loved ones safe and healthy during life’s most critical moments. To manage the expenses of home care, it’s important to plan ahead by choosing the right insurance plan that keeps you covered and meets your needs. One such option is Long-Term Care Insurance, designed to provide financial support when care becomes necessary.

Long-term care is part of many life journeys. At some stage in life, we all become dependent on others for support. Most of us will either support a loved one transitioning from independence to needing assistance, or we’ll experience it ourselves. Care may come in the form of in-home support, assisted living, or a nursing facility.

While no one can see the future, Long-Term Care Insurance (LTCI) offers a way to prepare. It provides financial support when chronic illness, disability, or age-related decline makes it hard to manage basic daily activities.

• Linked-Benefit Long-Term Care Insurance
  Also called hybrid insurance4, this type blends the benefits of traditional long-term care coverage with permanent life insurance or an annuity. It allows policyholders to draw on life insurance or annuity for long-term care needs, combining protection and flexibility in one plan.

3. Benefit Period

This defines how long your insurance will pay for care:

• Can range from 1 year to lifetime coverage.
• Your total benefit pool is calculated by multiplying the daily benefit by the number of days in the benefit period.
• Example: $150/day for 2 years = $150 × 365 × 2 = $109,500 total coverage.

4. Inflation Protection

You can choose to have your benefits increase over time to keep pace with rising care costs:

• Simple Inflation: Increases by a fixed amount each year ($100 → $105 → $110).
• Compound Inflation: Increases by a percentage of the current amount ($100 → $105 → $110.25 → $115.76). Compound inflation becomes significant over long periods.

5. Elimination Period

The elimination period is the number of days you must pay for care out of pocket before the insurance begins covering costs.

• Typical periods: 0, 30, 60, 90, 100, 180, 365 days.
• Similar to a deductible—the longer the period, the lower your premium, but you pay more initially.

The best time to consider Long-Term Care Insurance (LTCI) is before life calls for it. Planning ahead is an act of care—for yourself and for those who will support you. LTCI gives you the chance to explore options, understand costs, and make decisions with clarity and confidence. Reflect on who would stand by you if illness or disability arrived and what type of care would honor your dignity and values. If you are more prone to Alzheimer’s, dementia, Parkinson’s, or other chronic conditions, it’s especially important to plan early, so you and your loved ones are prepared.

Most of us hope to age in place, staying in the comfort of our own home surrounded by memories. With LTCI, you can plan realistically for these needs, ensuring that help is available when required. Life and our needs change, so revisiting your plan over time ensures safety, comfort, and peace of mind—allowing you to embrace each stage of life with grace, independence, and security.

If you are planning to look for long-term care services in your area, then here are a few resources for your help.

Start with the Eldercare Locator. You can call at 800-677-1116 or email to eldercarelocator@USAging.org. Their website (https://eldercare.acl.gov) is helps in identifying trustworthy local support resources.

You can even reach out to local area agency on aging, state or local offices on aging or social services, or your tribal organization. As they will be familiar with good community resources, they can provide needful guidance.

Additional Resources:

LongTermCare.gov – 202-619-0724
aclinfo@acl.hhs.gov
https://acl.gov/ltc

USAging – 202-872-0888
info@usaging.org
www.usaging.org

To receive Long-Term Care Insurance (LTCI) benefits, most policies require that a person needs support with at least two Activities of Daily Living (ADLs)—such as bathing, dressing, eating, or mobility—or is living with a cognitive condition like Alzheimer’s or dementia.

At Assured Home Nursing, we know these transitions can feel overwhelming, but you don’t have to face them alone. If you’ve been paying into an LTCI plan, we’ll walk beside you to make sure you get the care and benefits you deserve. Our team can help you understand your coverage, coordinate directly with your insurance provider, and most importantly, provide compassionate hands-on support every day. From assisting with daily needs to specialized memory care, we bring peace of mind to families and comfort to seniors, because your well-being is always our priority.

Call us today at (248) 593-8134 to explore the care options your LTCI makes possible. We are serving families across Birmingham, MI and nearby areas.