Would Long-Term Care Insurance Be Beneficial During a Global Pandemic?

By Steve Elliott | May 4, 2020 | Comments Off on Would Long-Term Care Insurance Be Beneficial During a Global Pandemic?

One major question people are facing now is how life will change permanently going forward? The coronavirus is a global pandemic and even though it’s not the first one, it’s the first time that a majority of nations, including the United States, have enacted measures shutting down businesses and urging people to remain home instead.

Long-Term Care Insurance Quote Encinitas CA - Would Long-Term Care Insurance Be Beneficial During a Global Pandemic?

Long-Term Care Insurance Quote Encinitas CA – Would Long-Term Care Insurance Be Beneficial During a Global Pandemic?

The efforts are to slow down the spread of the virus, giving researchers and healthcare professionals an opportunity to treat those infected and potentially find a cure. The most at risk for serious complications arising from an infection from coronavirus are elderly and those with pre-existing respiratory health issues.

As some people may require ventilators and respirators in order to survive, to help them breathe, a major question is arising regarding long-term care.

Would long-term care insurance be a benefit for some older patients during this global pandemic?

In most cases, it would not. That’s because for most of these individuals who recover, they won’t require care for several months. They may need to be on a ventilator or respirator for several days or even a couple of weeks, but eventually their body fights back against the virus.

It would be akin to the flu for some of those older Americans who are more susceptible to these viruses. Since they would not require long-term care (in most cases, unless there are other extenuating circumstances or complications), long-term care insurance would not be necessary.

So, when would long-term care insurance be necessary?

In the event a person requires any type of long-term care — meaning longer than three months, for example, with direct medical attention, physical support, or other assistance — then most insurance policies, including Medicare, would no longer cover this under their policy. That’s where long-term care insurance becomes instrumental.

How does long-term care insurance protect policyholders?

It provides financial support for long-term care. There are different lengths of time for these policies, from a year to approximately three years, on average. An individual who may require a nursing home stay for six months, for example, to help them recover following a stroke or heart attack would most likely have to pay that out-of-pocket or use equity in their home or savings before Medicaid would provide assistance.

A long-term care insurance policy, on the other hand, would help protect them from this unexpected and unwelcome expense.

Never discount the value of long-term care insurance. While the most recent and potentially future global epidemics or pandemics may not require long-term care, there are dozens of other reasons why seniors often wish they had long-term care insurance when they needed it most. Getting a quote can help with this decision.

If you or a loved-one are considering Long-Term Care Insurance Quote in Encinitas CA, please contact Steve Elliott at Capstone Insurance for an honest discussion about your future and your options. Call today (858) 350-3161.

Steve Elliott
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Posted in Coronavirus/COVID-19, Long-Term Care Insurance Quote Encinitas CA, Questions About Long-Term Care Insurance