Today, seniors are living longer than ever before. While this is a milestone to be celebrated, it can also create financial challenges for many families. Approximately 70% of people age 65 and older are expected to need some form of long term care at some point in their lives, and finding the finances to support this care may be tough. At iWill Advisors, we know some life insurance policies and health insurance options can provide long term care help in South Florida. Our advisors can help you find your best fit for financing long term care services.

Does Medicare offer long term care help in South Florida?

Medicare policies can vary greatly depending on coverage needs. At iWill Advisors, we can help connect you with the policy that’s your best fit. While Medicare may not cover custodial care, it may cover options such as:

  • Long-term hospital care
  • Skilled nursing care at a facility
  • Home health services
  • Hospice care
  • Respite care

Supplemental insurance policies may help fill in coverage gaps to help provide finances for long term care help in South Florida. Our specialists at iWill Advisors can help connect you with the Medicare and supplemental coverage that can fill in the gaps. There are many Medicare options, such as Part A, Part B and Part D. Finding the combination that offers your ideal coverage does not have to feel like a guessing game. Our team at iWill Advisors can help you find your coverage needs.

Can a life insurance policy provide long term care help in South Florida?

Just as Medicare is now offering multifaceted coverage fits, life insurance policies are changing for the better as well. Many life insurance policies include coverage for long term care help in South Florida. Annuities are one option to help fund long term care options. There are also other fits. For example, policies with living benefits may include detailed “riders”, or policy information pages. These riders can include information about the distribution of cash while the individual in question is still alive. Depending on your policy, this can mean that you’ll receive cash from your policy to pay for long term care while you are alive. With living benefits, you can find policy payouts for many needs without dying for the coverage to take effect.

As you can see, there are many ways to approach finances for long term care help in South Florida. Our coverage specialists at iWill Advisors can help you find the best fit for your needs. We work with health insurance, Medicare and a variety of life insurance policies. To learn more about your opportunities for long term care help in South Florida, please contact our team at iWill Advisors.

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