Policy Benefits

It is important that you understand exactly what sources will be available to pay for your care. Complete this form and submit it to us to receive a multi - company rate quote.

To move to the next field in this form, press tab on your keyboard and do not press enter.

The average cost of care now in my area is $ per month.

*To determine the costs in your area, call three nursing homes and take the average.

Medicare will pay 100% of the approved amount for 20 days if you need skilled nursing facility care. It will pay 100% after a daily deductible of $96.00 this year for the next 80 days. Beyond 100 days, Medicare pays nothing. Do you understand and agree that Medicare is NOT designed to pay for Long-term Care?

If I needed nursing home care in the very near future, I would be able and willing to
pay $ per month from my income. This could be done without affecting my lifestyle.

Based upon the amount I can pay from monthly income, I understand that I would need an additional
$ per month from my assets.
The amount that would be needed from assets would come primarily from;
If I needed to invade principle at the rate above, I estimate that my assets would last about years
To determine how many years you think your assets would last, divide the annual cost of care into the total amount of your assets. You may also assume some interest earnings, but remember as your assets are depleted, your interest earnings will diminish.
© 1999 Senior Selling Systems, LLC
Long-term care funding sources for care needed now at home
The average cost of home care now in my area is $ per day
*To determine the cost in your area, contact three home care agencies and take the average.

Medicare will pay for skilled nursing care in my home if I am: confined to my home, in need of skilled care or under a doctor's superivision.

I understand that Medicare does not cover custodial care at home.

If I needed home care in the very near future, I would be able and willing to pay $ per day from my income. This could be done without changing the lifestyle of my spouse at home.
Based upon the amount I can pay from monthly income, I understand that I would need an additional
$ per day from my assets.
The amount that would be needed from assets would come primarily from
If I needed to invade principle at the rate above, my assets would last about years
*To determine how many years you think your assets would last, divide the annual cost of home care into the total amount of your assets. You may also assume some interest earnings, but remember as your assets are depleted, your interest earnings will diminish
© 1999 Senior Selling Systems, LLC LTC POLICY BENEFITS
There are several key factors, which effect the cost of care. Each of the benefits below will change your out of pocket expenses but also change the premium.
Risk Transfer:
The daily benefit you choose is the single most important factor to consider.
The cost in this area is $ per day, do you wish to transfer all or some of the risk to the insurance company?

Daily benefit:

Current cost $ Amount willing to co-insure $

The elimination period is the period of time you would pay for care out of pocket BEFORE policy benefits begin. With an average cost of $ per day a day elimination period would mean you would pay $ out of pocket in today's dollars when you need care. The longer the elimination period, the lower the premium. How many days are you willing to pay before benefits begin?
The maximum lifetime benefit is the amount of insurance you will have. Most plans use a 'pool of money' concept. The number of years you select times the number of days times the daily benefit amount is your maximum lifetime benefit. The average stay in a nursing home is 2 ½ to 3 years. About 1 in 5 people stay longer than five years, usually due to cognitive impairment. How many years do you feel comfortable insuring?

© 1999 Senior Selling Systems, LLC

The cost of long-term care is expected to continue to rise. Therefore, inflation protection is an important benefit to consider. The more inflation protection you chose to purchase the higher the premium. (Click here to use compound interest tables below and select the interest rate you feel is reasonable. Then multiply the current daily cost times the inflation factor for that year to determine projected daily costs and enter it here) $

Current daily cost $
Assumed inflation rate %
Projected daily cost in years, when you think you may need care $
Based upon this, which inflation factor do you want?
Most care begins at home. For every one person in a nursing home there are about five receiving care at home. The home care benefit is usually a percentage of the nursing home benefit. What percentage of home care do you feel most comfortable with?

Benefit Priorities

You may need to sacrifice some benefits in order to include the benefits you feel are most important. Please tell us in order of priority which benefits are most important.

 
Gender:
 
Daily Benefit:
 
Elimination Period:
 
Lifetime benefit:
 
Inflation:
 
Home Care:


First Name:
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Last Name:
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Email:
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To receive information in the mail on this (for regulatory reasons we cannot provide policy quotations online) Please complete the contact us form to receive information on policy benefits you desire.

National | New York Long-Term Care Brokers
11 Executive Park Drive   Clifton Park, NY 12065-5631
518-371-5522 | 800-695-8224 | Fax 518-371-6131