Milwicz Insurance Group

Long Term Care Insurance- Insurance that covers the costs of skilled, intermediate or custodial care at home, an adult day care center, assisted living facility, or nursing facility. These costs are covered in the event you cannot perform two of the six Activities of Daily Living (ADL’s), or suffer from cognitive impairment.

Activities of Daily Living include toileting, transferring, bathing, dressing, continence, and eating. Transferring refers to the movement from bed to wheelchair, from wheelchair to commode, etc. Cognitive Impairment is the result of dementia, Alzheimer’s or other illness that you may suffer requiring substantial supervision.

LTC may be the most important insurance you purchase. It protects your financial security, standard of living, and provides you with choices regarding where you receive your care. LTC is simply not insurance for senior citizens. Almost 40% of the people who need LTC are between the ages of 18 and 64, according to a US General Accounting Office study in January 2001.

While your assets pay the premium, you health allows you to purchase LTC insurance. You may have significant assets, but if you’re not reasonably healthy you may not be able to purchase coverage.

The healthier you are, and the younger you are, the more affordable the premium. A third of current LTC policyholders purchased their coverage before the age of 65 according to statistics from the American Council of Life Insurance Study in January 2003.

LTC policies are designed to suit the needs of either an individual or couple. A significant number of factors are involved in determining the nature of your policy; the benefit, benefit period, elimination period, inflation protection….

For more in-depth information, complete the “Get a Quote” section.