Long-Term Care Insurance

Long-term care services can address the health, social and personal care needs of individuals who have lost the ability to care for themselves. While a certain degree of public support is available, government programs are not comprehensive and long term care services can be costly.

Long-term care insurance helps to pay for the care or services that government or other plans don’t provide, or works to bridge the gap between what is provided and the extra care or services you might prefer.

With long-term care insurance:

  • You have more choices about the quality and amount of care you receive
  • You have more choices around where to receive care and by whom
  • Your savings and investments are more likely to be preserved

Long-term care may include:

  • Nursing care
  • Rehabilitation and therapy
  • Personal care (help with activities of daily living like dressing, eating and bathing)
  • Homemaking services (meal preparation, cleaning, laundry)
  • Supervision by another person

Care may be provided in the home, in the community (e.g. adult day care), or in a facility that provides long term care.

Why is there a need for long-term care insurance?

Each year, thousands of Canadians face the reality of needing long term care services – either for themselves or for a family member.

At every stage of our lives we are vulnerable to accidents and illnesses that can change the way we live. There are also many misconceptions about what the government provides and pays for, and what extended health care benefits cover. It’s important to understand exactly what the benefits you have through your employer or association cover, and what the limitations are. Do they end when you turn 65, or when you leave the group? Is your spouse covered?

For more information contact one of our certified LCU Financial associate.

 

 

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