Homecare Service Contracts are not Long-Term Care Insurance

Living in your home while recovering from an illness or injury is certainly preferable to sitting in a nursing home. And homecare service companies can often provide the care needed. Unfortunately, there have been cases where homecare firms offered contracts that caused some seniors with poor health to think that they were getting much more. A homecare provider’s services may include visiting aides who cook, clean, bathe, and help with other activities. Or the company might give you access to special care by a registered nurse or physical therapist. And for an upfront fee, the contracts promise discounted, quality care when you need it without any medical underwriting. The contracts do not, however, include provisions for care in a nursing facility. And when the agreements are sold by insurance agents, seniors may get the wrong impression that they are buying Long-Term Care Insurance policies. Then by the time they need nursing home care, it’s too late to obtain the proper protection. If you or your spouse has been turned down for Long-Term Care Insurance because of advanced age or poor health, I might be able to help find a policy. In addition, there may be alternative solutions, such as a medically-underwritten annuity that could possibly provide higher than normal payouts, to meet your long-term care needs.