Long Term Care Insurance

The advancing medical technology lowers the mortality rate. In the aging society, you or your dependent parents, may need to enter a long term care facility or receive special medical care at home.

Long term care may include:

• nursing care
• rehabilitation and therapy
• personal care (help with activities of daily living like dressing, eating and bathing)
• homemaking services (meal preparation, cleaning, laundry)
• supervision by another person

This type of care does not come cheap. Depending on the level of care you may need, the government health plan may not cover all the costs required.

With the benefit that comes from long term care insurance, you do not have to use your savings or RRSP, or fully rely on other sources of refinancing, like a second mortgage on your house. You will have a peace of mind in receiving professional nursing care and facilities for a long period of time.