Group Long-Term Care Insurance
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Group Long Term Care Insurance


Group Long Term Care Insurance Harman Stone

Group Long-Term Care Insurance (LTCI) is a group insurance policy that helps pay for the cost of long-term care.  Group Long-Term Care Insurance covers care generally not covered by health insurance, Medicare, or Medicaid.

 

Individuals who require care and treatment under a Group Long-Term Care Insurance plan are usually not sick in any traditional sense, but rather, are unable to perform two or more of the six activities of daily living (ADLs) like dressing, bathing, eating, toiletry, continence, transferring in and out of a bed or a chair, and/or walking.

 

Age is not a determining factor in the need for Group Long-Term Care Insurance benefits.  About 70% of individuals age 65 and older will require at least some type of long-term care in their lifetime.  About 40% of individuals receiving long-term care today are between 18 and 64.  Once a change of health status occurs, long-term care insurance may or may not be available.  Early onset Alzheimer's - before the age of 65 - and Parkinson's disease are rare, but it does happen.

 

People in our society are living longer.  As people get older, they sometimes need help with everyday activities of daily living or might need supervision for memory problems.  This happens to women even more since women live longer.  Also, women are often, by default, caregivers to others.

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