Have you thought about what your future will be like if you’re not able to take care of yourself? Have you planned for long term care such as nursing care or home care services? After living independently, it is reasonable to anticipate the need for care. You will perhaps first need care while living at home, then in a retirement home or seniors’ residence and eventually in a nursing home. Have you explored the cost of such living arrangements? It could cost thousands of dollars a month.

A long term care insurance policy can provide peace of mind by knowing that necessary care can be afforded and will be provided. A long term care insurance policy helps you pay for long term care and services. You may not have to rely on your family for financial help or hands-on care or both. It gives you and those you care about the opportunity to spend quality time together.

Long term care insurance provides a monthly benefit if you become functionally dependent and satisfying a waiting period (0 to 180 days). Functional dependence means that you require substantial assistance with two of six activities of daily living or substantial supervision because of cognitive impairment, such as Alzheimer’s disease.

The six activities of daily living are:

1. Toileting
2. Bathing
3. Eating
4. Dressing
5. Transferring positions of the body
6. Maintaining continence

The insured should be between the ages of 31 and 80. Long term care insurance premiums become expensive with age so the policy should be taken out well before it may be needed.

Long term care insurance policies are usually level term so the premiums will remain the same. However, some policy premiums can increase over time. Some individuals may not qualify if there is a pre-existing condition; so it is recommended to apply for long term care insurance coverage while you are healthy.

Key Benefits of GTA Wealth Long Term Insurance

• Independent advice: GTA Wealth can access multiple insurance companies to ensure you receive the best solution for your needs. Our financial advisors do not work for an insurance company; therefore, there is no requirement to patronize only one company.
• Low cost: Your GTA Wealth financial advisor will search for the best value to meet your insurance needs. Multiple insurance company’s solutions can be reviewed so you get the best value.
• Flexible: If you are denied coverage from by one insurance company, your GTA Wealth financial advisor can apply to another insurance company.

GTA Wealth will help you get the best value for your Long Term Insurance requirements

Contact or call the financial advisors GTA Wealth Management toll free 1 855 GTA WLTH (855 482 9584) for your long term care insurance needs and get the best insurance quotes. A professional wealth management financial advisor is ready to serve your personal tax return, planning and wealth management needs. GTA Wealth Management Inc. has three convenient locations in Mississauga, Toronto and Markham to serve you.

Insurance sales are conducted through Allen Wong & Associates (AWA), a Managing General Agency