Long Term Care Insurance in Phoenix

For those who plan ahead!  

Long term care insurance is one of those things no one wants to think about. But it’s something that everyone, especially those who are the sole breadwinner in their family, need to consider.  But we understand that investing in any kind of insurance demands knowledge and expert help. That’s why professionals at Heroes Financial Group in Phoenix take time to guide you through the intricacies of long term care insurance. 

What is Long Term Care Insurance?

As the name suggests, these policies provide you help with the expenses of medical and long-term care services that you might require with age.

When you buy a long term care insurance policy, you do not just strengthen your financial security but also give your family members a gift of peace of mind. You give your loved ones an assurance that whenever you would require long term care services in life, you will have the financial resources to avail them. This policy pays a benefit if an individual cannot do any two of the six daily living activities like bathing, toileting, transferring (getting in and out of bed), eating, dressing, and continence. It also pays benefits if the holder is diagnosed with a cognitive disorder. 

These insurance policies are especially beneficial when you outlive your hard-earned money and wish to avoid troubling your children with medical and long-term care expenses. 

Long Term Care Insurance Policy

How do these Policies Work?

Like any other insurance plan, the first step for purchasing a long term care insurance policy is to find a financial agent. If you are looking to buy long term care insurance in Phoenix, Heroes Financial Group can help you find everything you need. You just have to reach out and leave the rest to us. We also help our customers calculate the exact long term care insurance cost they will have to bear with the help of our long-term care insurance calculator. 

This is how Heroes Financial Group guides you through the policy purchasing process: 

  • Assigning a consultant: When you first reach out to us, a consultant from our team is dedicatedly assigned to you.
  • Understanding your needs: We take our time to understand your needs. You can share the requirements with your consultant.
  • Thorough Assessment: We carry out a thorough assessment of your lifestyle and medical information to find the best policy options.
  • Providing options: Based on what we learn, we then provide you with the policy options that suit your needs the best.
  • Connecting the right people: Once you are convinced about a choice, we connect you with the insurance companies who sell the policy.

If you have a specific medical condition, long term care insurance plans might be expensive or unavailable, which is why it’s best to have these policies and plans set up when you’re young and healthy, and looking forward to your future needs.

After starting with the policy, you will be required to pay regular premiums for a long time to avail of the benefits when required, but doing so will help you live stress-free in the later years. The policy also pays a fixed amount if you stay at a nursing home for continuous care and treatment. 

What gets Covered in this Policy?

The policy is often customized according to the client’s budget, requirements, and age of initiation. These factors may bring differences in policy details like the cover, premium amount, and services covered. However, regardless of your plan, most long term care insurance policies cover adult daycare, nursing home costs, and assisted living facilities. 

Benefits of Long Term Care Insurance Policy

A financial agency like us checks an individual’s eligibility for these benefits after carefully evaluating your care plan and doctor’s report. Some policies even cover hospitalization bills along with other expenses like:

  • Physical, rehabilitation, and radiation therapies
  • Testing and diagnosis processes
  • Chemotherapy treatments
  • Multiple surgeries
  • Doctors’ visits

Factors Affecting the Cost of Long Term Care Insurance Policies

Financial agencies design long-term care insurance policies based on an individual’s specific needs, eventual desired payout, and budget. As a result, there is no one long term care insurance cost for all. Factors such as the age of initiation, type of plan chosen, gender, marital status, annual growth percentage of the policy, and health status determine the cost of a long term care insurance policy. 

Discuss Long Term Care Insurance Plans

How can Heroes Financial Group Help?

As a trusted financial agency, Heroes Financial Group can assist you in finding the most appropriate long term care insurance plan based on your specific needs. Our well-established network of agents empowers us to navigate you through the complex options available and find personalized plans that suit your budget and preferences. 

To find you the best long term care insurance in Phoenix plan, we evaluate your unique situation and identify the most suitable one. Our team will find you a policy that will care for you and your financial security whenever you find yourself in need of medical care in the later years of your life.

According to a 2018 case study, the rate at which American senior citizens (above the age of 65) have been filing bankruptcy, has become twice as high as that in 1999.

So, don’t leave the quality of your retirement years in the hands of fate. Contact us today and sign up for long term care.