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Long Term Care insurance

WHAT IS long term care INSURANCE?

Long-term care (LTC) insurance provides individuals with the help they need on a daily basis, either through a nursing home or other facilities. For some, it’s an opportunity to maintain their independence and dignity in an environment that provides the companionship of others—and for others, it’s the only way they can continue to live safely and comfortably at home.

The average yearly cost for an assisted living facility is $60,000 dollars per year in Hawaii. Nursing homes can cost upwards of $100,000 dollars per year.

Long-term care insurance helps protect you financially in the event that age or illness leaves you unable to properly care for yourself. The reality is that a majority of people over the age of 65 will require long-term care assistance at some point in their lives. LTC insurance can help cover expenses for in-home care, assisted living, and nursing home care where the average length of LTC needs is between 2 and 4 years.

70% of people turning 65 will require some form of long-term care services within their lifetimes.
70% of people turning 65 will require some form of long-term care services within their lifetimes.

What are the six Activities of Daily Living (ADLs)? 

If a person becomes unable to do any two of the following Activities of Daily Living (ADLs), they may qualify for long-term care coverage:

  1. Bathing
  2. Dressing
  3. Eating
  4. Transferring – getting in or out of a bed or chair
  5. Toileting – Going to the bathroom alone
  6. Caring for incontinence – ability to control bowel and bladder movements

Steps to long term care insurance

Step1

Determine How Much Coverage You Need

LTC policies vary in the amount that they pay out monthly and the total amount paid over the course of time.  This calculator can help determine how much coverage you need. More expensive policies provide more coverage.  Determine the amount that fits in your budget.

Step2

Determine the Type of Coverage You Want

LTC policies can be sold as stand-alone policies that only pay out if you require long-term care.  There are also hybrid LTC policies that also act as traditional life insurance should you not require LTC care.  Our team will help you decide which type is best for you.  

Step3

Compare and Apply

Occidental is happy to consult with you and answer any questions you might have about the different long-term care policy options available to you.   We have been proudly serving the families of Hawaii for nearly 90 years.  We look forward to helping you find the perfect policy and peace of mind.

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