Long Term Care
The quality of life in Canada has improved significantly over the last 50 years and, as a result, we are living longer. That’s good news. But as our life expectancy increases, so does our need for providing quality care to our ageing population. The reality is, however, that government-sponsored insurance programs lack the financial resources needed to offer comprehensive coverage, making individual Long-Term Care Insurance an increasingly valuable product for seniors and the elderly.
Many Canadians are unaware of the costs associated with long-term care support. If you are no longer able to care for yourself, your spouse or a parent, you will most likely be faced with expenses currently uncovered by Quebec’s national health plan. As a result, costs such as private nursing, private facility care, cooking, cleaning, shopping, etc. will largely be your responsibility. Over time, these expenses can add up to thousands, if not tens of thousands, of dollars.
With Long-Term Care Insurance, you can protect your savings and retirement income from these and other expenses with a wide range of plan options that allow you to choose your care setting (facility or home, or both), daily benefit amount, benefit periods and more.
The age we reach where we are no longer able to care for ourselves varies according to each individual. It is, therefore, important to consider long-term care options when you are young and healthy. Odds are that this is probably the time when you are least likely to think of your future, older self and the impact ageing will have on your quality of life.
While it is impossible to know exactly when or how ageing will impact your life, you can prepare for the unknown by ensuring your long-term care expenses are covered. This allows you to maintain some level of control, knowing that you were involved in making the decisions regarding your long-term care.
Make Long-Term Care Insurance an important part of your financial planning. Depending on your plan options, Long-Term Care Insurance covers expenses for:
- Care at home, in an assisted-living environment, or in a nursing home
- A private nurse
- Assistance with dressing, bathing, using the toilet, etc.
- Assistance with grocery shopping, cooking, cleaning, etc.
Why Stand-Up Advisor?
Stand-Up Advisor simplifies the process by helping you gain a better understanding of available Long-Term Care Insurance products. We will explain the fine print, bringing any policy exclusion clauses to your attention, so that you can make an informed decision when presented with product options.
Independently owned, Stand-Up Advisor is not bound by exclusivity contracts that limit access to products offered by specific insurance companies. This allows us to do two things: 1) Gain access to all available products 2) Compare and offer the most competitive rates based on our client’s needs. At Stand-Up Advisor, our first priority is to provide you with all the necessary information about the product(s) you are considering purchasing.
By asking the right kinds of questions, and comparing insurance products, you can ensure you purchase the policy that’s right for you. We can guide you through the process. Give us a call to set up a consultation today.
At Stand-Up Advisor we:
- Ensure you know to what extent you are covered
- Practice full disclosure
- Provide an unbiased approach to consulting
- Compare quotes and offer the most competitive rates
- Have access to all available products
To learn more about Long-Term Care Insurance, contact Stand-Up Advisor today for a complete assessment and review of plan options.