Long term care options help protect wealth and secure your future

When you or a loved one can no longer handle normal daily activities because of illness or advanced age, long term care options can provide assistance. From eating and bathing to dressing and moving about the house, long term care assistance helps people manage the small but vital tasks of living day to day. Long term care cost, however, can be high depending on the long term care options required as well as the length of time care is needed. Long term care expenses can quickly impact retirement savings and your family’s lifestyle. To help protect the wealth you have built and secure your family’s financial future, John Hancock provides a variety of insurance products that can help cover the cost of long term care options.

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John Hancock provides innovative long term care options

With over 145 years in the insurance business, John Hancock provides long term care plans that can help cover a number of long term care options. There are a variety of care options available for people requiring long term assistance. Skilled care includes nursing care and occupational, respiratory, speech and physical therapy from licensed professionals on a daily or non-daily basis. Custodial care, the most common form of long term care, includes help with daily activities like dressing and eating. Care is available both for the home, where roughly 80 percent of people receive care, to nursing or assisted living facilities. While the cost of care can be high no matter the level, customized options for long term care insurance from John Hancock can help minimize financial exposure, protect assets, avoid being a burden on loved ones, and increase the control and choice you have over long term care options for where and how to receive assistance.

Coverage options for health care over the long term

When considering long term care options for insurance coverage, the answers to these questions will help determine the way you may want to customize your long term care policy:

  • How many assets do you need to protect? Long term insurance should be part of your overall financial plan. It can help protect savings for retirement and the wealth you’ve built.
  • What is the current cost of care where you plan to live or retire? The cost of care is higher in some areas than in others.
  • How long would you like to be covered by long term health insurance? While the average duration of care is three years*, you should take into account your family health history and your own health when reviewing long term care options.
  • How can your plan keep pace with the rising cost of care? Accounting for inflation in estimating longterm care needs is important.

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*Center for Retirement Research at Boston College, "How Can We Improve Long-Term Care Financing," June 2008.

 
Long-term care insurance is underwritten by John Hancock Life Insurance Company, Boston, MA 02117 and in New York by John Hancock Life & Health Insurance Company, Boston, MA 02117.