Protecting your retirement egg

Long Term Care Insurance

What is long-term care insurance?

Long-term care insurance provides a comprehensive income-style benefit when you become dependent. This helps protect you and your family financially.

Long-term care insurance can help cover the cost of care services in any environment, including:

  • a personal residence – like your own home, 
  • a retirement home, or
  • a long-term care facility.

It can help cover the cost of care if you’re unable to care for yourself because of declining cognitive or physical abilities.

It can also help pay for assistance to manage your daily activities, for things like bathing and dressing. Or, if your cognitive condition has worsened and you need constant supervision to protect your health and safety.

How does long-term care insurance work?

Generally speaking, there are two options for long-term care insurance:

  1. Plans can be set up to reimburse specific expenses, such as homemaking or private nursing services.
  2. Or, your plan can be set to provide an income-style benefit. This means you’d get money on a regular basis and use it any way you choose.
long term care

In all cases, the message is pretty clear – we’re not getting any younger and some day, we might need help. You’ll want to make the decision based on your family situation, your own personal resources, and other factors. I will help you sift through the options.

Long Term Care Insurance provides you with:

  • Freedom, to enjoy their money now and in retirement because they’re prepared. Having a plan that helps protect their savings means living retirement to its fullest.
  • Choice, from a product that can be tailored to their needs and which provided features and options that will allow for more choice when needed in their retirement years.
  • Flexibility, from a benefit that can be used to pay for the type of care that’s right for their needs and their situation – whether it’s purchasing private home care or compensating a child who provides assistance.

At Lang Financial, we service customers across Canada. Primarily, we offer mortgages in the Winnipeg, Manitoba area.

I work with Castle Mortgage, Castle Insurance and TMG The Mortgage Group – an award-winning Canadian mortgage brokerage with a national team of over 800 qualified and accredited mortgage brokers, agents and associates providing residential and commercial mortgage services. Since 1990, TMG has helped over a quarter million Canadians get the best financing solutions and mortgage rates through Canadian mortgage lenders from coast to coast.