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There are six primary factors influencing the premium for long term
care insurance policies: |
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Type of Policy: Facility, Home Health Care, or Comprehensive
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Age: The most important element in determining the premium.
Naturally the earlier you start paying for long term care insurance the better. |
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Daily Benefit: The maximum amount a policy will pay
for one day of care. This can vary from $50 per day to over $400 per day. You will decide whether to purchase sufficient insurance to cover all of these costs or only most of them. |
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Benefit Limit: The number of years that a plan will
pay a benefit from the time you get sick. Benefit limits generally vary from one year to lifetime coverage. The longer the benefit limit, the greater the protection but the higher the cost.
Inflation Protection: Sometimes called an "inflation
rider", this provides you with a way for your daily benefits to increase over time. Otherwise, the policy may not be sufficient to protect you many years from now. Long term care insurance policies normally contain riders offering automatic daily benefit increases of 5 percent each year, either at "simple" or "compounded" rates.
Elimination Period: Amount of time that you agree to
pay out of your own pocket before the plan (policy) begins to pay. This period normally varies from 0 to 100 days. The 100-day elimination period will produce the smallest premium cost to you. |
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Long Term Care Insurance (Nursing Care)
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There are three levels of nursing care that are covered
by a long term care insurance policy: |
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Custodial care: Care necessary due to a permanent or chronic
illness or injury, which is less intensive, but which may continue indefinitely. This nursing care helps a person perform activities of daily living or supervises a person if cognitive impairment exists. Many custodial care situations start with a mild degree of illness which is followed by slow deterioration. Alzheimer's disease is one example where custodial care is usually needed. Other types of insurance policies do not offer custodial care benefits. The value of long term care insurance for you or a family member and protecting a lifetime of created assets is never more evident than in custodial care nursing services. |
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Skilled care: Short term nursing care needed after an illness or
serious injury. Consists of rehabilitative and intensive 24 hours per day care. |
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Intermediate care: Rehabilitative care by a nurse for up to six
months and when less than 24-hours per day supervision is needed. |
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Skilled care: Short term nursing care needed after an illness or
serious injury. Consists of rehabilitative and intensive 24 hours per day care. |
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A long term care insurance specialist with Sunrise Retirement
Solutions and Insurance Planning Services will assist you in deciding which type of policy will work best for your needs. |
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More Information on New Jersey Long Term Care Insurance
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Click on the link below to fill out a secure quote request form
for a New Jersey Long Term Care Insurance policy that will provide comprehensive long term care insurance coverage at an affordable cost. Or you can speak with our Long Term Care Insurance agent specialist toll free at 1-800-501-6199 to discuss the features. |
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We are a greater Philadelphia, PA area insurance services agency, offering
affordable long term care insurance premiums to individuals and families in the following New Jersey cities and counties: Deptford, Camden, Cherry Hill, Blackwood, Collingswood, Runnemede, Woodbury Heights, Pennsauken, Palmyra, Cinnaminson, Delran, Riverside, Edgewater Park, Burlington, Riverton, Delanco, Beverly, Bridgeboro, Woodlynne, Oaklyn, Gloucester City, Brooklawn, Mt. Ephraim, Westville Grove, Colonial Manor, Red Bank, National Park, Thorofare, Gibbstown, Bridgeport, Penns Grove, Almonesson, Fairview, Grenloch, Hurffville, Turnersville, Erial, Pine Hill, West Berlin, Clementon, Barrington, Kirkwood, Maple Shade, Mt. Laurel, Pitman, Sewell, Mantua, Centre City, Magnolia, Somerdale, Berlin, Richwood, Mt. Royal, Glassboro, Ewan, Wenonah, Audubon, Haddonville, Merchentville, Willingboro, Woodbury, Clarksboro, Mickleton, Repaupo, Paulsboro, Williamstown, Sharptown, Ferrell, Auburn, Yorktown, Pedricktown, Pennsville, Vineland, Millville, Gloucester County, Burlington County, Salem County, and Camden County, NJ. We also offer affordable long term care insurance policy services throughout southeastern Pennsylvania, including in Upper Darby, Drexel Hill, Yeadon, Sharon Hill, Collingdale, Darby, Folcroft, Lansdowne, Norwood, Prospect Park, Glenolden, Havertown, Colwyn, Chester, Cheltenham, Montgomery County, Bucks County, Delaware County, and Philadelphia County, PA. |
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**The information, pictures, and other content in this website about particular
insurance services is only provided for informational purposes. Any decisions regarding your insurance needs should be discussed with a licensed insurance agent. |
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Sunrise Retirement Solutions
& Insurance Planning Services
188 Fries Mill Road, Unit F-1
Turnersville, New Jersey 08012
Gloucester County, NJ
(856) 875-0999
Toll Free: 1-800-501-6199
Fax: (856) 875-0981
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