Protects your most valuable asset and your ability to earn an income.
Disability insurance pays cash benefits to the policyholder in the event the insured is unable to work due to sickness or injury. That cash benefit ranges from 50% to 70% of income. The insurance company will not pay more than 70% of income because there must be an incentive to return to work.
Medicare Advantage Plans are health plan options that are approved by Medicare but run by private companies. They are part of the Medicare Program, and sometimes called "Part C." When you join a Medicare Advantage Plan, you are still in Medicare. (see Medicare Part C) With Medicare Advantage Plans:
Many people do not know about or understand all the long term care options that are available. The following are brief descriptions of the major types of long term care, the kinds of service you may need, the ways of paying for long term care and how to find the best services and facilities:
Home care can be given in your own home by family members, friends, volunteers, and/or paid professionals. This type of care can range from help with shopping to nursing care. Another type of care that can be given at home is hospice care for terminally ill people.
The Medicare Program
Medicare is a health insurance program for:
- People age 65 or older.
- People under age 65 with certain disabilities.
- People with End-Stage Renal Disease (permanent kidney failure requiring dialysis or a kidney transplant)
The Original Medicare Has Two Parts
Long Term Care Insurance
What is Long Term Care
Long Term Care is the assistance individuals need when they are unable to care for themselves and need help with Activities of Daily Living (ADLs) - bathing, dressing, transferring, toileting, continence (control of bodily functions), and eating - or they have severe cognitive impairment such as Alzheimer's disease. The need for long term care can result from an accident, chronic illness or short-term disability, or from advance age.