Long-Term Care & Disability Insurance Solutions
Planning for Long-Term Care
Most people will need some form of long-term care as they age, whether it’s help at home, in assisted living, or in a nursing facility. These services can be extremely expensive—and contrary to common belief, Medicare does not pay for ongoing custodial care. Medicaid can step in only after you’ve spent down most of your assets, leaving many families financially vulnerable. Long-term care insurance provides a way to secure the care you need without sacrificing your savings or independence. It’s an essential part of a well-rounded retirement plan.
What Long-Term Care Insurance Covers and Your Options
- What LTC Insurance Covers
Long-term care insurance pays for services like nursing home stays, assisted living, and in-home care once you can’t perform two or more activities of daily living (ADLs), or if you have a cognitive impairment. Coverage is triggered by a medical assessment and helps preserve your quality of life. - Policy Options
Choose from traditional long-term care insurance, which provides flexible benefits for a set number of years, or hybrid policies that combine life insurance or annuities with long-term care riders. Hybrid options can provide value even if you never use the LTC benefit, by offering a death benefit or cash value. - Short-Term Care Insurance
For those who can’t qualify for traditional LTC or need a more affordable option, short-term care insurance can pay benefits for up to one year of care. This can be a helpful solution if cost or health issues are barriers.
Disability Income Protection for Your Working Years
Why Disability Insurance Matters
The risk of becoming disabled during your working years is higher than many people realize. Disability insurance replaces a portion of your income if you’re unable to work due to injury or illness, helping you pay bills and maintain your lifestyle.
Types of Disability Insurance
Individual policies are perfect for self-employed workers or those who want extra protection beyond what an employer offers. Coverage details include the waiting period before benefits begin, the length of time benefits are paid, and the percentage of your income replaced—usually around 60%.
When to Get Disability Insurance
It’s best to secure coverage when you’re young and healthy, as rates are lower and policies are easier to qualify for. True North Associates helps you find policies that fit your job risks, needs, and budget—whether you’re just starting your career or looking to protect an established income.
Combined Planning for Lasting Security
Long-term care and disability insurance work together to support your financial stability at every life stage. Disability insurance protects your income during your peak earning years, while long-term care coverage shields your assets as you age. These tools ensure that an unexpected illness or injury won’t upend your retirement or derail your family’s financial future. At True North Associates, we see them as crucial pillars for anyone who wants lasting peace of mind.
Frequently Asked Questions About Long-Term Care & Disability Insurance
At what age should I buy long-term care insurance?
The ideal time to purchase long-term care insurance is typically in your late 50s or early 60s, before premiums increase sharply or health issues make qualifying harder. Buying too early can mean paying premiums longer than needed, but waiting too long could mean missing your best window. We help you strike the right balance for your situation. Planning ahead provides the most options and value.
What if I never use my LTC policy—do benefits go to waste?
If you never need care, traditional LTC policy benefits aren’t paid out, but hybrid policies can address this concern. With a hybrid, unused benefits can be left as a death benefit to your heirs or withdrawn as cash value in some cases. Even traditional coverage offers peace of mind knowing you’re protected, but we’ll help you decide what type fits your comfort level. It’s about finding the right balance of protection and flexibility.
Does disability insurance cover any illness or just injuries?
Disability insurance generally covers both illnesses and injuries that prevent you from working, not just accidents. There are some exclusions, like self-inflicted injuries or sometimes uncomplicated pregnancies, but most serious health conditions are covered. It’s important to read your policy carefully for details. We’ll explain the fine print and help you understand what’s protected.
Get Personalized Advice for Your Care and Income Protection
Long-term care and disability insurance can be complicated, but you don’t have to figure it out alone. True North Associates will review your needs, walk you through policy choices, and recommend the right coverage amounts and benefit periods. Protect your future with guidance you can trust—tailored for your family and your goals.
Ready to Safeguard Your Future?
If you’re thinking about long-term care or disability insurance, schedule a conversation with True North Associates. We’ll answer your questions, compare policy options, and make sure you’re fully protected—so you can live and retire with confidence.
