The Pros of Purchasing Long-Term Care Insurance

No one can stop aging or time, and until we can, we must think about our aging selves in the future. Where will we be? Will we be able to care for ourselves? Will we be alone? While we cannot predict the future, we can at least plan for it. A long-term care (LTC) insurance plan will help you and your family avoid the expensive nursing home/assisted living expenses/home-health services that may pop up in your life.

These policies help with the costs for personal care services, based on a predictable, daily cost, which is determined when you purchase a policy. These plans will help you cover daily living expenses (bathing, eating, dressing). These LTC plans are not for medical care.

According to, the average yearly cost of going into a nursing home in Florida is $82,155. With a LTC plan, you won’t have to come up with all this money on your own.

Ultimately, the decision is up to you and your family to get a LTC plan. Of course, with any type of “non-essential” insurance, there are cons (such as cost), but there are also a lot of pros that can make purchasing this insurance extremely valuable and worth it.

For this blog post, we wanted to share with you some pros of LTC insurance plans.

Is Getting LTC Insurance Worth It?

  • Purchasing LTC will give you peace of mind. With the plan in place, you will know you will be covered for expenses to help support you as you age.
  • If your family history shows a pattern of people needing assistance, you may need it too. If you know there’s a good chance that you’ll be using these funds in the future, it’s a good idea to get a plan.
  • You won’t have to care about as many out-of-pocket costs. According to the U.S. Department of Health and Human Services, the average cost of a semi-private room in a nursing room is $6,844 – that’s a lot of cash to hand out on a monthly basis. Most people cannot afford those costs, so this insurance will help.
  • If you’re in a healthy financial situation, a LTC can be a smart plan and investment. If you need help planning, you can talk to a financial planner or one of our agents at Thomas & Associates.
  • This insurance helps you maintain financial independence.
  • The premiums are lower, and payouts are higher when you enroll in your 40s and 50s.
  • The plan will help you relieve the burden of care from your loved ones.
  • LTC plans can help you to stay in your home for a longer period.

Do You Need a Long-Term Care Insurance Plan?

LTC insurance plans are great for covering costs that Medicare and Medicaid won’t cover including moving, cooking, housework, bathing, bathroom help, medication assistance, cleaning, shopping, caring for pets, and money management.

Our certified agent brokers at Thomas & Associates insurance agency in Jacksonville, Florida, can help you select a long-term care plan that is best suited to your particular situation.
We want to help you find the right LTC insurance and plan for the future. Contact us to get a quote today! To get started with us, click our Jacksonville long-term care insurance contact page or call 904-730-3900 .