Long Term Care (LTC) insurance may help you avoid a far more difficult decision: whether to exhaust your savings or liquidate your assets to pay for a period of long term care.
This policy may help you be prepared for the financial realities and help you maintain control of some important decisions about Long Term Care and how it affects you and your family.
Will my other insurance pay for long term care?
Unfortunately, no. Medical insurance and Medicare are designed to pay for specific care for acute conditions, not for long term help with daily living. Medicaid only helps with long term care (LTC) expenses after you have depleted nearly all of your assets. The exact amount varies by state but usually leaves just a few thousand dollars in total assets.
Only LTC insurance may cover those costs and allow you to maintain as much of your assets as possible.
Why buy coverage at work?
You may get more affordable rates when you buy this coverage through your employer and you may extend your coverage to your parents and spouse. Depending on your plan, you may be able to pay your premiums through convenient payroll deduction. Your employer has selected coverage from Unum, the leading provider of group LTC insurance for employees in the U.S.
Why buy now?
People often buy long term care insurance at an early age, because the younger you are, the more affordable the rates. In fact, 63% of the people who buy group LTC insurance are under age 55.
Do I need to be in a nursing home to use my LTC insurance?
All Unum plans include a home health option. This allows you to use your benefit to pay for an aide to come to your home, so you can remain in your residence as long as possible. For an extra premium, some plans allow you to pay a family member or friend to take care of you.
Additional help for caregivers.
Even if you do not need LTC in the immediate future, you may be a caregiver for someone you love. Your plan includes LTC Connect® service, which gives you access to counselors who can help you find long term care providers in your area, a support group, or other assistance you may need. This service also provides discounts for medical equipment such as walkers, hearing aids, wheelchairs, and other related needs.
UNUM Website: http://unuminfo.com/bergerLTC
UNUM Phone Number: 877.286.2852