Why You Need Long-Term Care Insurance

November is Long-Term Care Awareness Month, and that means it’s time to start thinking about either your own future or that of your parents and others you love. If you’re 60 or older, you need to consider how you’re going to pay for care if you incur serious medical bills at the end of your life.  Fortunately, you have a few long-term care insurance options that will help cover most of your care so those costs won’t drain your hard-earned savings. Here are the basics.


What is long-term care?


“Long-term care” refers to services you require when you can no longer live independently. This could include help with eating, bathing, getting dressed, etc.


Long-term care policies can help cover the cost of necessary arrangements such as:


  • Nursing homes
  • Assisted living facilities
  • Adult day care services
  • Home care
  • Home modification


Do I really need long-term care insurance?


Many people think that their retirement savings or Medicare will cover their medical bills late in life. Unfortunately, that’s not necessarily true. Medicare doesn’t pay for all long-term care services, and sky-high nursing home costs often burn through savings quickly.


Why can’t I just rely on my family for care?


Caregiving can become a severe burden for family members. They love you, but your needs may cost them dearly—especially if they have to quit work to look after you. Caregiving often drains family members both financially and emotionally, and therefore, it isn’t always a great solution.


What should I do?


Our insurance agents can help you purchase a long-term care rider that will add some flexibility to your life insurance policy and let you start using your benefits before you pass away. You can pay for long-term care bills without even submitting receipts!


So, don’t worry about your end-of-life costs. Talk to a Hibbs Insurance agent today about adding long-term care to your life insurance policy and make sure you’ve got the coverage you need until the very end.