Understanding Long-term Care Insurance

Alexandra with Brian Gordon of Gordon & Associates

Long-term Care (LTC) insurance helps cover the costs of care when you can no longer perform basic activities of daily living without help, such as bathing, dressing, or eating. LTC can help cover the income needed for folks to remain in their homes, receive healthcare at home, and help pay for facilities and nursing homes, among other things. 

LTC insurance requires a specialist that understands the ins and outs of the product and needs analysis. Sometimes our clients ask for this benefit and we “got a guy”! Our favorite LTC Insurance Agency is Gordon Associates and our go to agent is Brian Gordon, President of Gordon Associates. Recently, we sat down with Brian to learn more and share his tips with you! 

Here is the scoop—

Brian recommends anyone from their late 30s up into their 80s consider and look into LTC insurance. Going on claim is unpredictable because you never know if you could be injured, become sick or just age and need more help. It is important to help you and/or your family members maintain financial independence when facing unexpected life changes. Brian shares “LTC insurance gives families a direction and lightens the burden of planning and paying for care services. If you or your loved ones have already been diagnosed with something or are already in need of assisted living services, you won’t qualify for long-term care insurance, so it’s best to plan ahead." 

Filling out a health questionnaire can help Brian and his team at Gordon Associates figure out what options are available to you at your current age and health status. Once you have LTC insurance, payment for services triggers once the insured person is unable to perform at least 2 of the 6 daily living activities (ADLs) necessary for independent living. The ADLS are dressing, bathing, feeding, toileting, transferring and continence. The other way carriers pay benefits is if a insured person is certified to need continual supervision due to a severe cognitive impairment, including Alzheimer’s disease.

If you’re interested in LTC insurance let us know and we can introduce you to Brian at Gordon Associates. They’re licensed nationally in 40 states and have been providing both comprehensive packages and concierge services for over 50 years.