Longterm care insurance helps protect your financial future
Longterm care insurance is a critical part of any financial plan. When you work hard to build wealth and provide the future that you want for your family, the last thing you want is for your hard-earned assets to be compromised by the costs of longterm care. Longterm care is often necessary when a person can’t care for themselves any longer – when eating, dressing, bathing and moving about are difficult to manage because of age, injury or illnesses like stroke, Alzheimer’s or multiple sclerosis. The cost for this care – as much as $85,775* for a private room at a nursing home – can easily impact the wealth you have accumulated and make it harder to provide the opportunities and lifestyle you want to give your family. Longterm care insurance can help protect your assets by helping to cover the cost of longterm care. And when many families want longterm care insurance they can trust, they turn to John Hancock.
John Hancock – a leader in innovative longterm care insurance
John Hancock has been a trusted name in insurance for nearly 150 years, and has been a leader among long term care insurance companies since 1987. When you buy a longterm care insurance policy from John Hancock, you have a variety of products to choose from and optional features that can help customize your policy to your financial plan. With a John Hancock longterm care insurance policy, you can:
- Minimize your financial exposure and protect the assets you have worked so hard to accumulate for your family.
- Avoid becoming a burden on your loved ones.
- Remove the emotional stress from decisions concerning longterm care by providing both the means to help pay for care and the control over where, when and how to receive it.
Deciding how much insurance coverage you will need for longterm care
When you buy long term care insurance, there are a number of factors to take into consideration:
- Your age and health.
- Where do you plan to retire or live in your later years? Cost of care varies by state and region, and having an idea about where you may receive care can impact the amount of longterm insurance you want to buy.
- How long will you plan to be covered? On average, people require about three years of longterm care, but you may want to plan for more or less insurance depending on your own health history and your family’s history.
* Based on John Hancock's Cost of Care Survey, conducted by LifePlans, Inc., 2011.