Parental Care

Long-term Care Insurance

If you become unable to care for yourself, long-term care provides benefits to pay the cost of health and personal care services. This may occur due to chronic illness or a disabling condition requiring care in the home, or the use of a long-term care facility. Most of us don’t think about long-term care until it affects someone close to us.

Many Canadians who have parents in the 50-80 age bracket are purchasing this coverage now to avoid the financial hardships which they would otherwise have to endure in the future.

Statistics show that as the Canadian population ages, there will be more demand on the health care system to provide for the elderly.

Canadian Institute for Health Information, Health Care in Canada, 2000

The basic coverage in a long-term care plan will provide a monthly benefit when an individual is functionally dependent. This means the insured is unable to perform any two of the six Activities of daily living:

or suffers from a cognitive impairment due to a disease such as Alzheimer’s.

Here are some highlights of how Long Term Care Insurance Plans are structured:

Please contact us to obtain a customized quote or if you require further information.