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Understanding LTC Policy Coverage Limits Thumbnail

Understanding LTC Policy Coverage Limits

Many people choose to purchase a long-term care (“LTC”) policy to help cover the high costs of in-home health care and nursing care. To help you understand long-term care insurance, here are key terms and benefits. The terminology below is most applicable to traditional long-term care policies but may be found in hybrid policies as well.

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Four Types Of Long-Term Care Insurance Thumbnail

Four Types Of Long-Term Care Insurance

Around 70% of adults over the age of 65 will need long-term care (“LTC”) support during their lives[1], ranging from in-home health care to nursing home care. The cost of this care can be high; the average cost of nursing care in Maryland is $127,750 per year[2], and most long-term care is not covered by Medicare beyond 100 days. Fortunately, your financial advisor can help you prepare for this financial impact. For many, a long-term care insurance policy is a beneficial part of a solid financial plan, protecting savings and estate values from being depleted by expensive long-term care. Here are four types of long-term care insurance to discuss with your financial advisor.

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