MANITOULIN FINANCIAL
LONG TERM CARE
Consider the following 2 questions:
1. As you enjoy your retirement, if you required care, where would you want to receive it?
2. If you needed to go to a long term care facility, where would it be located and what would it look like?
For most people the answers to these 2 questions are the same. The first is that they would want to receive care at home, and the second is that they would want to stay in their community and be in a facility that resembles their home, more so, than a medical facility.
As our population ages, these questions will become increasingly relevant. In fact, for Canadians over the age of 65, there is a 43% chance that they will need to spend some time in a long term care facility. While this is not a subject that people enjoy to think about, it is important. Along with the care they want to receive, people need to consider how it will be paid for.
In its essence, Long Term Care Insurance provides cash to help fund the answers to the previous two questions. It provides support to help clients get the care they need in a comfortable dignified manner. This gives you the power to decide if the help you require is provided at your home, or a higher-end facility located in your neighbourhood. This is a method of shifting the long term care risk off of your back, and on to an insurance company.
Similar to most insurance products, LTC can be customized completely to your needs. If you feel that this product would be of interest to you, we are happy to work on a plan that will focus on solving the issues that are most important to you.