Disability & LTC

Disability Insurance

You lose a key employee to a disability. This highly compensated individual is part of a team taking your company to the next level. A disability could be devastating to the financial, professional, and lifestyle goals of an executive. As an employer, you want to minimize the effect of both the cost of coverage of executives and the effect of the disability on the company. Being prepared can make a big difference.

Employers must weigh their choices carefully, balancing cost and administration burdens with adequate coverage and return-to-work incentives. There are these and many other factors to consider, and our firm is prepared to help you find the right protection for you and your executives.

Long Term Care

Long term care provides essential help for daily activities. From walking and eating, to bathing and dressing, these are the activities that allow a person as they grow older or cope with a chronic illness, to preserve as much of their lifestyle, independence, and flexibility as possible.

Long term care includes the necessary skilled and custodial care that a chronically ill or frail individual requires. Diagnostic, therapeutic, preventive, and rehabilitative services all have their place in a comprehensive long term care program. The primary focus of long term care is, however, on the personal care and maintenance that will preserve daily independence and dignity over an extended period of time.

It is difficult to anticipate and plan for long term care needs because so many factors are involved in the decision making, such as:

  • Ambivalence about long term living arrangements as physical capabilities decline
  • Inability or unwillingness of family members to provide periodic or ongoing support when the time comes
  • Misinformation about long term care options or services available through health programs, Medicare, etc.
  • Difficulty in juggling financial and family priorities when planning for long term care

There are solutions to the long term care dilemma, and we can help you find the right solution for you.

What is Long Term Care?

Long term care is usually defined as care required for someone needing assistance with his or her usual activities of daily living (ADLs). ADLs are commonly defined as eating, dressing, bathing, toileting, maintaining continence, and transferring from bed to chair. When an individual needs physical assistance or verbal reminders to perform any of those ADLs, they are generally classified as receiving long term care, whether they need the assistance occasionally or full-time.

The financial implications of a chronic disease or other debilitating condition that requires long term care are great. Along with health care costs in general, these costs are expected to triple over the next two decades.

The Need for Long Term Care

For a couple turning 65 today, there is a 70% chance that one or both of them will need long term institutional care. Even if people plan carefully, they will still face the risk of losing control of their lives and their finances when they become elderly and unable to live independently.