What is the best age to purchase a policy?

Start planning for the expenses of long-term care needs when you begin saving for your future or retirement. Increase your savings by an additional amount or percentage for that added expense. In other words, begin as soon as possible.

What does long term care insurance cost?

The younger you are the more likely you are to receive better medical underwriting and lower premiums. Long-term care insurance can help to pay for needed care due to an unexpected accident or chronic illness at a young age. Your benefits will grow with time, if you have inflation protection rider on the policy.

What is the cost of care?

Personal health care is a hands on service. As the population ages, the demand for the services grows which increases the cost. The cost of housing is also a part of the total cost. National annual median costs are: full time home care $42,000, assisted living $50,000, nursing home is $78,000.

What are the benefits of long-term care insurance?

Long term care insurance helps to pay the expenses of personal health care. When it does, the family members can continue to live their lives. It protects assets the you worked for and saved for a desired goal. Insurance gives the insured the independence to select the type of care they want. It gives peace of mind.

What if I use all of the money in my policy?

It does happen, on occasion, that a care need extends beyond what was planned and all of the funds are used. The insured then needs to consider other resources that they have or to consult an elder law attorney to determine if they qualify for Medicaid.

Can I deduct the premium from my taxes?

Yes, the premium for a Tax Qualified policy may be included with medical expenses on the 1040 Federal Tax Return.

How does an insure trigger benefits?

A doctor must state in writing that the insured needs assistance with two activities of daily living for at least 90 days or has a diagnosis of dementia. The activities of daily living are bathing, dressing, toileting, eating, transferring or is incontinent

Can anyone who wants to purchase a policy?

Long-term care policies are medically underwritten. This means the medical condition at time of application and medical history are used to determine eligibility and the cost of the premium. About one third of the applicants do not qualify. Applicants 80 years and older are not eligible.

Why are women’s premiums higher than men’s?

It is very clear that women live longer than men. Of the claims that are paid, 2 out of 3 claims are paid to women.

Is there an advantage to purchase long-term care through my business?

Having a long term care program as an employee benefit is an effective means to retain valuable employees. Any premiums that are paid by the employer can be deducted as ordinary business expense.


Nancy Gould, LTC ConsultantI’d love to connect with you about how you can be confident you will
be taken care of as you age without being a burden.

Would you like to know more?

Call me at 914.242.3250 or Email Me


Nancy Gould, LTC

"Nancy is the person you want on your side when planning for life's difficult events. She is warm, professional and gifted at helping you to determine what type of long term care coverage you might need if something were to happen to you or your loved ones in the future. I highly recommend her services."