Long Term Care Insurance
The possibility of needing constant care or supervision because of failing health can create tremendous worry. No one wants to be a burden on their family, yet as the baby boomers age, an increasing number of Canadians will be reaching their senior years all within a reasonably close period of time.
Long term care insurance is one of the options available to prepare for the financial consequences associated with the failing health that often occurs as we age. The insurance benefit helps pay for the care or services that may be necessary, which an individual may not otherwise be able to afford, or where an individual may wish to preserve his/her savings and investments. It provides the opportunity to protect assets and investments, but also of equal importance to many, it offers protection for one's quality of life, allowing individuals to maintain independence as long as possible.