John Hancock Long Term Care Insurance
John Hancock long term care insurance offers assistance to those who can no longer perform the daily tasks required in day-to-day living. As many people often think they won’t need this type of insurance until they are older, it is often not purchased until it is too late. John Hancock long-term care insurance is available in all fifty states and those who wish to ensure they have long term care insurance should purchase a policy before they need the services.
According to the National Clearinghouse for Long Term Care at least 70% of all U.S. citizens over the age of 65 will require the long term care services. This may include living in a nursing home, living in an assisted living facility or a residential care facility, living in a hospice facility, attending an adult day care center or requiring in home services in your home. One of the most important reasons why consumers should invest in long term care insurance is that it protects your financial portfolio.
John Hancock long-term care insurance has provided benefits for over 145 years and is one of the best investments you can make in your future. When a person loses the capability of providing for him or herself, the financial burden often falls to family members. A person may lose their life’s savings paying for their long term care needs and when that runs out, they may turn to family members to help make ends meet. Additionally, the need for long term care insurance is increasing as more medical advancements are made.
Medicine, new treatments and a healthier style of living has increased the lifespan of many. Due to longer life spans, the likelihood that someone will require long term care after the age of 65 is greatly increased. Illnesses such as diabetes, heart disease, strokes, Alzheimer, various forms of arthritis, or even an accident or injury may result in a person becoming unable to meet his or her daily needs. John Hancock long term care insurance ensures that there are funds available to provide the long term care required by each individual according to their personal situation and requirements. It is important to choose a long term care insurance policy while you are young and in good health to ensure that when a situation presents itself, you will have the benefits in place to cover your needs.
When choosing a John Hancock long term care insurance policy you can speak with a representative to make certain that you customize you policy according to your needs and you r budget. When determining your long term care policy consider the current cost of the type of care you will need, your current amount of assets and what you need your long term care insurance policy to protect and how long you believe you will need your long term care insurance for.
As the rate of long term care policies directly correlate to the age and health level of the person when they first initiate a policy plan, it is always best to apply for John Hancock long-term care insurance while young and in good health. Another factor to take into consideration is that sometimes there are situations when a person under the age of 65 requires some form of long term care. In fact, a study by the Georgetown University Long Term Care Financing Project titled “Long Term Care Financing Policy Options for the Future” indicates that of those who require long term care services, 41% are under the age 65. Due to the rising numbers of those both under the age of 65 and older requiring assistance with daily tasks, the need for purchasing long term care insurance is great. Most financial experts agree that the time to purchase John Hancock long-term care insurance is always sooner rather than later.