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| Critical Illness | Group Health & Dental | Long Term Care | Disabiltiy Insurance |
Long Term Care Protection
An affordable solution to maintaining your Independence.
- Could you afford to provide care for an aging parent?
- Would you want to burden your children with your requirements for long term care.
- Is there an affordable solutions to manage this growing need?
- How long will your retirement savings last to help you maintain your needs for long term care?
Many of us today are being faced with our own aging parents. However, many of us wish that there was something in place to plan for this very day and avoid the financial hardships of costly private care.
FACTS
Depending on your province Canadians can spend up to $4,770 a month out of their own pocket for facility care that’s subsidized by government programs.
The cost for private, non-subsidized retirement homes can range from $2,500 to $7,000 per month.
Even if you choose to remain at home when getting the care you need, you will still have to pay for private nursing, and for services such as shopping, cooking and cleaning. This can add up to thousands of dollars annually.
While provincial health plans are fairly comprehensive, they cannot afford to pay the entire cost of care even for those facilitates that are subsidized. There are often limits on the amount paid for care at home and of course, they do not cover costs for private facility care.
Let’s take a look at some of the typical expenses long term patients face today:
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*Registered Nurse or Auxiliary Nurse
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$30 to $38/hour
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*Medical Services Aid
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$14 to $19/hour
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*Personal Support Worker
(cooking, shopping, housekeeping etc.)
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$19.50/hour
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Many of us may be forced to draw on retirement savings and family assets to help pay the substantial cost of what could be years of long term care. Fortunately, there is a way you can protect your assets and lifestyle.
The Need for this type of Protection
Thanks to our healthier lifestyles and medical innovation, most of us can look forward to celebrating our 80th birthdays. However, as a result of living longer, studies now show that nearly half the population over age 65 will need some form of long term care. This care includes on-going support from medical professionals like nurses, aids for household services and professional caregivers. It can be provided in your own home or in a long term facility.
Solution: Long Term Care Protection
Long Term Care provides a daily benefit in if you lose the ability to care for yourself, and require the services of a long term care facility or professional assistance at home. Whether the benefit is used for care in a government, private or even at home is up to you.
Long Term Care helps you preserve your lifetime accumulated savings and assets, your family’s lifestyle and their financial security. Most importantly it provides you with options, so that you can make decisions about personal care that are best for your particular needs. It allows you to:
*Select care in the setting that is most convenient and suitable for your needs, or receive professional attention in your own home, if you prefer.
*Pay Out of pocket medical expenses that may be subsidized by provincial health plans.
With economical ways to budget this inevidentable expense, ask us today for a Long Term Care quote, to free yourself of the enormous amount of emotional, physical and financial strain it creates within a family.
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