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Lincolnshire, IL 60069

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Who would benefit from having long-term care insurance?

For people in the Chicago, IL area, having proper insurance coverage continues to be extremely important. A form of insurance all people here need to consider getting is long-term care insurance. There are various situations when a person would benefit from having long-term care insurance, which offers financial support if you are in need of long-term care. 

Long-term Care Insurance Beneficiaries 

Those at Risk of Developing Health Conditions

A situation when someone will want to have a long-term care insurance plan is if they are at risk of developing health conditions that could require additional care. If you develop a serious health condition, it could require you to pay for very expensive long-term care, and having insurance to provide support here would be very helpful. Some individuals that have a higher risk of developing a disease include older adults, those with certain health risks, and those with a family history.

Those Looking to Protect Assets

If you have worked hard your whole life and built up a nice nest egg, you will likely want to be able to pass some of it down to your dependents. Unfortunately, an unforeseen illness or health condition that requires long-term care can eat away at your savings over the years. When you have a long-term care insurance plan, it will give support so you can protect your assets as much as possible.

Reach Out To Us

There are a lot of situations when someone in the Chicago, IL area would benefit by having long-term care insurance. If you are looking to get this coverage here, it would be great to start the process by calling our team with the Arial Insurance Group. If you do call us at the Arial Insurance Group, we will give the support necessary to understand all options and build a policy.

Understanding Long Term Care Insurance

Since you are now healthy, it can be hard to imagine you need long-term care later in life. The big question is: how will you take care of these costs?

One way you can do this is by purchasing long-term care insurance from Arial Insurance Group in Chicago, IL. This coverage pays for ongoing care services not covered by your health insurance plan, like bathing, dressing, and getting out of bed.

Who needs long-term care insurance?

This policy is ideal for persons with disability, chronic diseases, or a condition like Alzheimer’s. This coverage covers the cost of care you receive at:

  • Your home
  • A nursing facility
  • An adult care center
  • An assisted living facility

The best time to buy long-term care insurance is in your 50s. Remember, you may not qualify for this policy if you have a pre-existing condition. Plus, most long-term care carriers won’t approve policies for individuals older than 75. So, instead of waiting for too long to buy long-term care coverage, buy it in your mid-50s or early 60s.

Why you need long-term care insurance

According to the U.S. Department of Health and Human Services, about 70% of persons aged 65 and above will need long-term care. Since typical health insurance doesn’t cover long-term care and Medicare only covers a portion of it, you need to invest in long-term care insurance.

Without this coverage, you will have to cater to the costs from your pocket. And even if low-income families can get help from Medicaid, by that time, you will have exhausted your lifetime savings.

The two prominent reasons to invest in long-term care insurance include:

  • To protect your savings
  • To access more choices of care

Contact Us Today

Need to purchase long-term care insurance in Chicago, IL? Please get in touch with Arial Insurance Group. We will offer you coverage that gives you peace of mind in your golden years.

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