Assisted living insurance – or long-term care insurance – is a topic many avoid. After all, no one wants to think about themself or a loved one being incapable of living independently. However, for those who want to make a financially sound decision, this type of insurance is a must.
Below, we’ll cover everything you need to know about assisted living insurance. Let’s get started!
If you want to educate yourself more on the topic, we also recommend visiting AssistedLiving.org. AssistedLiving.org is a comprehensive online resource for seniors and their families looking for raw data and information, as well as deep insights and real solutions to problems seniors, caregivers, and influencers face every day.
By gaining insight from conversations with industry professionals, older adults, and those that care for them, AssistedLiving.org presents data-driven research and shares its findings in easy-to-understand guides and studies for the general public.
Their mission is to collaborate with like-minded individuals and to provide effective solutions to real challenges impacting seniors every day.
What Is Assisted Living?
Assisted living is a combination of housing, nursing home care, and health care. These services are meant for people who need assistance with day-to-day activities but still want the highest possible degree of independence. Many freestanding communities offer long-term care services, and you can often find them near or integrated with hospitals and nursing homes or at independent housing complexes.
The activities and services in these communities promote the good health and independence of the individual, like:
● 24-hour supervision (for those with cognitive impairment and in need of constant care)
● Three daily meals in a communal dining room
● Assistance with activities of daily living (bathing, dressing, going to the toilet, etc.)
● Medication management
● Exercise routines and other wellness programs
● Recreational activities
● Laundry services
● Housekeeping and maintenance
● Transportation arrangements
Advantages of Having an Assisted Living Insurance for the Elderly
Just like health insurance, the primary purpose of getting an assisted living policy is to save money, as the cost of long-term care insurance will be far less than when you pay for care with no coverage. To give you an idea, assisted living can cost you upwards of $90,000 a year.
Other benefits of purchasing senior care insurance include:
● Multiple care options. While Medicaid has its advantages, you can only get nursing home care. Long-term care insurance gives you more freedom to decide where you prefer to receive care, whether it's in the comfort of your own home or an assisted living community.
● Larger range of services. When you pay for long-term insurance, it can cover the cost of additional services like chore assistance, home-delivered meals, and home health aides.
● Relieving friends and family of caregiving. By preparing for the future, you don’t have to rely on your loved ones for assistance.
Choose the Best Assisted Living Insurance in Dallas, TX, Call Us Today!
Buying long-term care insurance is not a decision to take lightly because it's one of the priciest types of policies on the market. However, buying the right one that matches your goals and meets your budget will save you more in the long run – and here's how we can help.
What kind of benefit amount do you prefer? Do you want an assisted living and life insurance hybrid policy? At the Thumann Agency, we will inquire about your needs and scour the market for insurance premiums and insurance companies that offer what you need. Contact us today at 972.991.9100 for a free consultation!