14 Ways to Secure Long-Term Care Coverage

14 Ways to Secure Long-Term Care Coverage

Today, there are many ways to secure long-term care coverage. This recently published report reveals 14 different ways to secure long-term care coverage, along with advantages, disadvantages, and things to consider for each.

Topics discussed:

  1. Veterans Administration – limited assets & have served one day in combat
  2. Federal Long-Term Care Program – federal retiree option
  3. Self-Insure – for those that will pay 100% of their LTC expenses
  4. Medicare – pays a portion, up to 100 days
  5. Medicaid – for those with limited assets and resources
  6. Traditional Long-Term Care Insurance – oldest type but least bought today
  7. Short-Term Care Insurance – LTC coverage in a smaller package
  8. Asset-Based LTC policy – solves consumers two biggest concerns
  9. LTC Rider – can be added to a life insurance policy
  10. Chronic Illness Rider– can be added to a life insurance policy
  11. Annuity w/LTC Rider – an option when health issues are present
  12. Annuity w/LTC ‘doubler’ – doubles income for LTC purposes
  13. Reverse Mortgage – access to home equity for LTC purposes
  14. Life Settlement – turn un-needed life insurance into LTC funds

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Could there be a non-insurance way to protect yourself?

Copyright 2018. All Rights Reserved. All written content on this site is for informational purposes only. Opinions expressed herein are solely those of LTCi Solutions, LLC. Material presented is believed to be from reliable sources; however, we make no representations as to its accuracy or completeness. All information and ideas should be discussed in detail with your individual advisor prior to implementation. Insurance product guarantees are subject to the claims‐paying ability of the issuing company. Neither Jim Sloan or LTCi Solutions, LLC offer tax or legal advice. Individuals are advised to consult with their own counsel if such advice is needed.

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