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Unum Provident Long Term Care Insurance Company

 

Who Is Unum Provident Long Term Care Insurance Company?

Unum Provident Long Term Care Insurance Company is a company based on one simple phrase, people serving people. Unum Provident helps provide 25 million people with protection. If in the event of a disability or need for chronic illness care offers plans for individuals and for employers to help protect their employees. Seeking a provider for your long term care needs is a responsibility that requires careful consideration and a good understanding of what each company and policy offers. Here is some background to help you in your search for the best provider for your specific needs.

 

Understanding Long Term Care Insurance

Why would you need to purchase long term care insurance if you already have an insurance plan? Won't Medicare help cover some of these expenses any way? These are a couple of the most common questions regarding this fairly new insurance offering. Frankly, chances are that Medicare, and even your basic health insurance is not enough for pay for the needs of long term coverage. Why?

Here's the bottom line on long term health care costs. If you or someone you love need to be in a facility like a nursing home or rehabilitation center to recover from an injury or illness, you should plan on expenses of almost $5,000 per month. Medicare won't cover full costs after about the first 3 weeks. You can half coverage for less than 3 months, but then you're on your own.

Basically, long term care insurance is a gap filler. It is designed to help bridge the wide gap between your potential expenses and your ability to pay them on your own. Now your long term needs might not require a facility stay. However, you may still need an in-home aide, training for a family member to become your caregiver, or just a little extra help with daily living. Whatever your needs, the costs can be daunting.

 

I Married My Spouse "In Sickness and In Health"; I'm Sure He/She Can Care For Me

Are you really sure about that? In some long term care situations you will require trained medical care that your spouse may not be able to provide for you. Even if you only require long term care for basic things such as eating, dressing and bathing is your spouse really going to be able to provide these things, especially in your later years? For many spouses who are left with the long term care of their partner it is not only emotionally but also financially draining. You could spend you entire life savings and then some on your long term care alone. That means there will be nothing left for your spouse to live on and provide for their own well being. Is this really a fair deal to them?

 

Is There Anything Unum Provident Offers That Other Insurance Companies Don't?

Unum Provident offers you Alzheimer's coverage. If you have a claim you can file all the needed paper work online and track your claim online too. This makes it easier for you to know the status of your claim. They also offer a wide variety of in home care service coverage so you can stay home longer. Is there a family history of Alzheimer's? If so, this is something you should look for in a policy.

 

When Is The Right Time To Purchase Long Term Care Insurance?

You can purchase long term care insurance at any time, even if you're not elderly. Long term care insurance also covers you in the event you are disabled, which is something that can happen at anytime and is not only for seniors. Many experts suggest purchasing a long term policy by the time you are in your late 50's. The reason behind this thought is because in your late 50's there is still a good possibility that you will not be suffering from any chronic illnesses and this will make your policy cheaper and keep your premiums low. These same experts highly suggest not waiting until you are in your 70's to purchase a long term care insurance policy as your rates will close to double what they would have if the policy had been purchased earlier.

With the purchase of long term care insurance you are giving yourself the gift of piece of mind. You can rest assured that you will not become a financial or emotional burden on your family and loved ones. You will be able to spend your time in an environment that you choose and not one that the state chooses for you and then bills you later for. Long term care insurance is a wise investment not only in your future but in the future of your loved ones. At Unum Provident Long Term Care Insurance Company we can help you choose the plan that is right for you and your family.

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