Long-term care insurance can pay for services associated with a prolonged physical illness, a degenerative disease like Alzheimer’s or Parkinson’s, or a disability. Currently, BBT provides policies with top-rated insurance companies — Genworth Financial, John Hancock Life Insurance, Life Secure, Mass Mutual, Mutual of Omaha, National Guardian Life, and Transamerica Life Insurance Companies.
Hybrid life/long-term care insurance provided by:
Lincoln Financial Group
Nationwide
One American
Life insurance with long-term care rider:
John Hancock
Mutual of Omaha
Nationwide
Protective Life
Transamerica
Long-Term Care Insurance is available for all members of the Church of the Brethren, their family and friends, and employees of Church of the Brethren-affiliated agencies, organizations, colleges, and retirement communities.
Although most people invest in LTCi in their 50s or 60s, the premiums you pay are based on your age and your health, so the earlier you purchase a policy, the lower your premiums will likely be. Since LTCi covers medical issues that can occur at any stage of life — permanent disability, for example — policies can be purchased for individuals as young as 18.
Because the amount of coverage, your health and age, and the percentage of income you wish to spend on LTCi vary, it’s best to speak one-on-one with our insurance representative about how to budget for LTCi. With many companies offering LTCi plans, the cost and benefits of your policy can be tailored to fit your financial needs.
Most long-term care insurance policies do require underwriting — a review of your health history — for potential policyholders. Health problems could raise your premium, but medical history is only one of many factors that determines your LTCi cost.
LTCi policies vary, but generally this insurance can cover nursing home care, care in your home by a licensed health care provider, custodial services, hospice care, and services provided by adult day care and assisted-living facilities.
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