Below are questions and answers about long-term care insurance. We hope it will help you make the right decision about obtaining long-term care insurance. If you have any questions, please call us at 1-800-451-9963.
What is "Long-Term Care Insurance"?
Long-Term Care Insurance helps pay for the long-term care needed by people with disabilities or long-lasting illnesses—such as skilled care, physical therapy, or a nursing home. It can even pay for in-home custodial care.
Why would I need it?
Most health insurance plans don't provide significant long-term care insurance. Medicare will pay only for short-term skilled care in a nursing home, after a hospital stay. Medicare won't cover in-home care, which is what most seniors want and need. Medicaid will cover in-home and other long-term care, but only after all other financial resources are exhausted.
With long-term care insurance, families can help avoid depleting savings and other assets to pay for the care their loved ones may need.
Protect your assets—and your freedom of choice
Buying long-term care insurance today can give you the security of knowing you're covered when it comes time to seek long-term care, and that you are protecting the assets you have worked so hard to save and grow.
A variety of policies are available from top-rated companies.1 Coverage options can include inflation protection, guaranteed renewal, and other benefits. One of our Financial Advisors or Insurance Specialists can review them in detail to help you determine which plan is best for you.
Even if you already have long-term care insurance, it may be smart to review your policy now. Several carriers have recently been downgraded, and policy coverage may have changed—we can help you determine the options and carriers that might be right for you.
Insurance and investment expertise at the same location you do your banking
Chevy Chase Financial Services is an unbiased provider of investments, insurance, and financial planning services to thousands of families in the greater Washington-Baltimore region. Whether you're considering insurance or have other investment needs, our professionals will provide you with individualized advice when and where you need it—at a conveniently located Chevy Chase Bank branch, or at your home or office.
