Insurance

Long term care insurance

As opposed to life insurance, long term care insurance covers the cost of care for those who are unable to perform activities of daily living.  Long Term Care Insurance can cover the cost of home care, assisted living, hospice care, nursing homes, etc.  Long term care policies offer more flexibility than most public assistance programs such as medicare.

The cost of your long-term care policy is based on:

  • How old you are when you buy the policy
  • The maximum amount that a policy will pay per day
  • The maximum number of days (years) that a policy will pay
  • The maximum amount per day times the number of days determines the lifetime maximum amount that the policy will pay.
  • Any optional benefits you choose, such as benefits that increase with inflation

The average cost of a nursing home in Western New York is $280 a day!  Long Term Care Insurance is a way that you can protect your life savings and still leave your loved ones a legacy.