Nevada Long-Term Care Insurance Planning
Prepare for what’s next with long-term care insurance in Nevada. Our team will help you find the right plan for your current and future healthcare needs.
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Nevada Long-Term Care Insurance Coverage – Senior Insurance Agency
Explore long-term insurance coverage options to give you and your family peace of mind.
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What is long-term care insurance?
Many people require assistance with daily activities like eating, bathing, and toileting as they age. A long-term care insurance policy covers the cost of assisted care outside of what’s covered by a traditional health insurance policy.
We help clients find long-term care insurance in Nevada to address the expenses of in-home care, assisted living facilities, or intensive hospice care. These services can be expensive, but taking out a long-term care policy in advance can make the costs more manageable.
When to Consider Long-Term Care Insurance?
The earlier in life you take out a long-term care insurance policy, the lower your monthly premiums will be. Many experts recommend searching for long-term care insurance in your mid-fifties or early sixties, but it’s never too early (or too late) to get started.
If possible, consider taking out long-term care insurance in Nevada while you are in good health. If you wait too long to get coverage, you could develop a medical condition that makes it difficult, or impossible to qualify.
Have questions or concerns? Our team is here to discuss them.
Types of Long-Term Care Plans in Nevada
There are two types of long-term care policies available: comprehensive coverage and facility-only coverage. Our local insurance agents will help you decide which is ideal for your needs.
Comprehensive policies allow you to choose from various long-term care options, including in-home care. These policies tend to come with higher premiums but also offer more flexibility. Facility-only policies only cover specific types of care facilities, including nursing homes and assisted living options.
How We Help You to Find a Right Long-Term Insurance Plan
Looking for long-term care insurance in Nevada? Our team will help you find the policy that’s right for you. We’ll take the time to understand your health history and concerns, then learn more about your budget and finances.
With this information, we’ll help you find individual long-term care insurance that aligns with your goals. No pressure, just professional guidance and compassion.
Why Choose Us?
At Senior Insurance Agency, we understand the joys that come with aging – as well as the unavoidable challenges and complexities. We work with many long-term care insurance companies to give our clients a variety of policy options.
Our knowledgeable team is always here to answer your questions and advocate for you during the hunt for insurance and long-term care.
Frequently Asked Questions
The oldest possible age to qualify for long-term care insurance varies by insurer, but it is typically around 75 to 80. Insurers set these age limits because the risk of needing long-term care services increases significantly as individuals age, making it less financially viable for insurance companies to offer coverage to older applicants.
Some insurers might offer policies to those older than 80, but such instances are rare and often come with higher premiums and stricter underwriting requirements.
No, long-term care premiums do not increase as you age, but are likely to increase for loss ratio claims paid over time.
The cost of premiums is largely based on the age at which you purchase the policy. Younger individuals can lock in lower premiums because they are less likely to need immediate care, whereas older individuals face higher premiums due to the increased risk of requiring long-term care services sooner.
Furthermore, premiums for existing policies can also rise over time due to inflation and rising healthcare costs, although such increases are typically subject to regulatory approval.
Individuals can be denied long-term care insurance for several reasons, primarily related to their health status.
Pre-existing conditions, such as severe cognitive impairment, certain chronic diseases, or a history of cancer, can lead to denial. Insurers also consider an applicant’s medical history, lifestyle factors, and current health assessments. High-risk factors, like smoking or a history of serious health issues, increase the likelihood of denial.
Additionally, if an applicant already requires assistance with daily living activities or has a significant need for care, they may be deemed ineligible.
Long-term care insurance policies typically do not cover services that are considered medical care rather than personal or custodial care. This can include treatments and services provided by doctors and hospitals, such as surgeries, diagnostic tests, and acute medical care.
Policies also generally exclude coverage for conditions or care needs that were pre-existing at the time of application. Additionally, most policies do not cover care provided by family members or friends, and some may exclude care for mental health conditions other than dementia or Alzheimer’s disease.