Home Care Insurance
If you need long term care in your own home then taking out a insurance plan could be the right option for you. Home care insurance is a type of long term care insurance.
In return for an upfront insurance premium you will receive a regular income towards your home care needs. To qualify for such an insurance policy you will need to have difficulty and need help with at least 2-3 (depending on your chosen provider) activities of daily living, such as eating, dressing or bathing. Long term care insurance can help to pay for care in your own home or for care home fees.
Currently it is only possible to purchase insurance for home care at the point when that care is needed. 'Pre-funded' long term care insurance policies, where the purchaser is insuring against any future care needs, are no longer available on the market.
Whether home care insurance is right for you will depend on you personal situation. There may be a number of different options available to you, but how much you receive as a regular income will depend in large part on the premium you are willing to pay, the state of you health and your age at the time of purchase.
To discuss your options, or to find out more about insurance policies for home care speak to a member of an independent long term care planning advice team and receive impartial advice and a free initial consultation.
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