Long Term Care

Provides financial assistance for home care or facility care when illness or declining health affects your independence.

Protect Your Independence, Your Savings and Your Family

As we age, the possibility of needing assistance with everyday activities or ongoing personal care becomes an important financial consideration.

Long Term Care Insurance is designed to help cover the costs of care when you can no longer manage certain daily activities independently or experience significant cognitive impairment.

Whether care is provided at home, in an assisted living facility or in a long term care residence, the right insurance protection can help preserve your savings, maintain your independence and reduce the financial burden on your family.

Why Consider Long Term Care Insurance?

Protect Your Retirement Savings: Help prevent substantial care expenses from depleting the assets you have accumulated.

Maintain Your Independence: Provide financial resources to support care at home or in an appropriate care facility.

Reduce the Burden on Your Family: Help minimize the financial responsibilities placed on your spouse or children.

Greater Choice of Care: Provide additional financial flexibility when selecting care arrangements and services.

Supplement Government Programs: Help address care expenses that may not be fully covered by provincial healthcare programs.

Preserve Your Estate: Help protect assets intended for your spouse, children or other beneficiaries.

How Does Long Term Care Insurance Work?

Long Term Care Insurance generally provides benefits when the insured person becomes unable to perform a specified number of Activities of Daily Living (ADLs) or experiences qualifying cognitive impairment.

These activities commonly include bathing, dressing, eating, toileting, transferring and maintaining continence.

Depending on the policy, benefits may be paid as a regular income amount or as reimbursement for eligible care expenses.

Coverage amounts, benefit periods, waiting periods and eligibility requirements vary by insurance company and policy.

Planning Ahead for Future Care Needs

The cost of long term care can place considerable pressure on retirement income and family finances, particularly when care is required for several years.

Planning ahead allows you to consider how potential care expenses could affect your retirement savings, your spouse’s financial security and your estate.

Depending on your circumstances, protection may be available through traditional Long Term Care Insurance or alternative insurance solutions offering living benefits.

Evaluating your options early can help you prepare for potential care needs while maintaining greater financial flexibility.

Find the Right Long Term Care Solution

InsureBizz can help you evaluate your potential long term care needs and explore available insurance solutions based on your age, health, financial circumstances and retirement objectives.

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