Long Term Care Insurance

Long Term Care Insurance

Canada is going to have 43% more seniors in a decade and twice as many 20 years from now – and that’s a good thing – We all hope to be one of them!

Every year, the number of seniors aged 90 and older is increasing by 10,000 people. As people age, they need more health care. Health care spending is rising and the reality is that revenues are not projected to increase at a rate sufficient to pay for the rising health related cost.

The fact is, our health care system is struggling to meet the needs of our seniors

Provincial health insurance plans simply don’t have the resources to pay the full cost of long-term health care, even in subsidized facilities.

At present, the government offers NO coverage for private facility care and pay only a limited amount for care at home. The expenses for private nursing, food preparation, cleaning, shopping, etc. will be largely your responsibility.

Long Term Care insurance was designed to help pay for the gaps in our health care system.

Long Term Care insurance provides an income benefit when you are no longer able to care for yourself. Although we mostly associate this state with the elderly, it can be true of anyone at any age, due to accident, sickness, or deteriorated mental abilities.

Long Term Care insurance is a good solution for anyone concerned about exhausting their savings, investments, assets, or becoming a burden to their family to pay for their care. It gives you the freedom to choose the kind of care you want without the financial burden.