At its core, it involves assistance with the most basic and personal activities of daily life; getting out of bed, getting dressed, going to the bathroom, etc. However, it can also include help with secondary tasks such as assistance with cooking and cleaning.
Twenty years ago, most of the American public knew nothing about the subject of Long Term Care. About ten years ago we awakened one morning and discovered our parents and grandparents were living well into their late 80s and beyond. The baby boomers are expected to live even longer, and our children and grandchildren might very well make it past 100!
The Long Term Care insurance industry realizes this, and has developed state-of-the-art product designs. Benefits that make sense with affordable premiums and policy language, and definitions that allow claims to be paid quickly and easily.
Go here to get a free long term care insurance quote.
Go here to view long term care costs by state.
Go here to read about the Long Term Care CLASS Act.
While many of us think of the elderly when we refer to Long Term Care, the fact is that accidents or medical conditions that require Long Term Care could occur at any age. As a small business owner, you or your employees might experience a medical event or debilitating accident that might require care at any time.
If you own a business, even a very small business, you, your employees and your family members can enjoy the benefits of a Group Long Term Care Insurance Plan. This exciting product makes it possible for small businesses to offer Long Term Care coverage at an attractive group discount, with premiums that may be 100% tax deductible as a business expense.
The benefits of a Group Plan include:
Tax Deductibility: Premiums may be 100% tax deductible as a business expense. This enables you to use Pre-Tax Business dollars to pay for your Personal long term care insurance.
Discounted Premiums: Each participant receives a Group Discount off the premium that is in addition to other discounts that may be available.
Simplified Underwriting: The application has fewer health questions than with an individual policy which increases the likelihood of being medically eligible for coverage. In essence, it's easier to medically qualify for a group plan than an individual plan.
Family Members Qualify: Best of all, your family members qualify as group members and enjoy all of the benefits described. Additionally, like your family members, your employees' spouses and family members may also qualify.