The TK Advisor -TK Financial Group Ottawa Blog about Life Insurance, Critical Illness Insurance, Wealth Management and Estate Planning

Long term care and you !

How will your finances handle the cost of long term care for you , your parents or your immediate family members ? We all know that our health care system is in trouble and will not accommodate all the demands places on it . Long Term Care insurance can create up to a 2 million dollar account for you to draw upon when the need arises . People are living longer today then ever before but with health impairments . On our web www.tkfg.ca you can learn how you can protect against huge costs of getting proper care .

Long Term Care Insurance

What is Long Term Care Insurance ? Long Term Care Insurance was designed to fill in the gap which provincial health insurance plans could not afford to cover . The cost of long term care creates financial hardship for the individual , family and anyone who cares for them . Long Term Care coverage will provide you with a piece of mind and protect your assets . There are several types of Long Term Care Policies and you need to take time to examine your options .What would make you eligible to receive Long Term Care payments from your policy ? Terms and conditions vary by company as well as individual policy from same insurer . Are you and your loved ones protected ?

Long Term Care Insurance is valuable insurance for young and old !

What constitutes a claim under Long Term Care insurance ? in order to qualify to receive benefits the insured must be ' unable to perform two activities of daily living ( ADL ) . If you think this coverage is only for the old you are mistaken , victim of car accidents , severe illness  or sporting accidents will qualify for this coverage which is based on ADL .These ADL situations are those where the individual cannot bathe ,dress , or move from one place to another without assistance or may also be incontinent , or suffers from a cognitive deficiency . ' For a couple ,there is a 64 % chance that one of them will require some level of long term care , and 20% of those who need long term care will need it for a period of more then 5 years . "  WOW ! We provide this coverage through a number of leading insurers and contractual obligations are not same with all insurers !