Product Information

Long term elder or dependent care can be a wrenching life event both financially and emotionally. As the elder population increases more consumers than ever can benefit from Long Term Care coverage. Morstan is proud to help you provide your clients with the emotional and financial peace of mind that comes from the finest Long Term Care coverage.

Long Term Care insurance policies help to pay for certain long-term care, both medical and non-medical. We can all agree that Medicare is a start but it is far from being complete coverage. Did you know that costs associated with care received in an Assisted Living facility, a Nursing Home, or In-Home Care, are generally not covered by Medicare?  That’s a scary thought!  Long Term Care coverage can help prevent medical care costs from depleting your client’s hard earned savings. Additionally, Long Term Care insurance allows for in home care and that means your clients can maintain their dignity and independence, avoiding the depressing thought of nursing homes. 

When considering a Long-Term Care policy, you and your clients should consider the following:

• Elimination Period: The length of time between a claim being filed and payment being made. Typically, the longer the period between filing and payment, the lower the cost of the policy.
• Daily Benefit: The amount paid per day during the claim period. Most Carriers issue between $300 and $400 a day. The Daily Benefit varies by State.
  Benefit Period: The amount of time that the Carrier will pay a given claim. Not surprisingly, a longer payment period results in a higher premium.
• Inflation: This option allows for the changes in daily care costs from year to year to be covered by the policy.
  

Let Morstan help you give your clients dignity and financial protection through our Long Term Care Products.

Click here for 2010 LTC Tax Reference Guide