We are pleased to announce that Long Term Care Insurance is now available
for our members. The product that we are offering is the new Leading Edge from
John Hancock Life
Insurance Company. SECU members will be eligible for a
special premium discount as part of a sponsored group program. Applications
for coverage are individually underwritten with age and health
considerations being important factors used for rate determinations and
approval decisions. Please contact SECU Insurance Services for more
information.
What is long term care? An injury, illness or the effects of aging could
result in someone becoming unable to provide for their own personal care. The
care needed may be temporary or permanent and could involve skilled nursing,
rehabilitative or custodial care. Assistance with the activities of daily living
is considered custodial care. The possible need for long term care increases
with advancing age, but the need could occur at any age. The cost for receiving
long term care can be very expensive. Most health insurance plans and Medicare
do not cover long term care costs.
Why purchase Long Term Care insurance? A sound financial plan should include
consideration of potential long term care needs. Provided premiums are affordable,
one should consider purchasing Long Term Care insurance to help protect assets
and income, to remain independent of support from others and maintain freedom
to choose the quality of care desired.
