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Abbey's Financial
27 Broadway
Elmwood Park, NJ 07407
Bergen County, NJ
(201) 796-6303
Fax: (201) 796-5039
New Jersey
Personal Insurance
Long Term Care
Insurance
Although people are generally living longer, many are requiring assistance
in their later years. Long term care services can be provided in your home,
in an assisted living facility or in a nursing home. In many cases the family
is no longer able to provide such care around the clock. Family members
may not live nearby, they may have other pressing family commitments, or
simply can't get the time off from work or away from the home.
According to recent data, 48.6% of people age 65 and
older may spend some time in a nursing home and
71.8% of people age 65 and older may use some form
of home health care.
Some people can pay the bill out of pocket, others will
qualify for Medicaid (welfare), but most of us will fall
somewhere in the middle. A New Jersey Long Term
Care insurance policy can help protect your assets
from the rising cost of care.
Long Term Care insurance is often referred to as
"asset protection." Individuals need to have assets
worth protecting in order to justify the purchase of a
policy. If you are able to pay Long Term Care
insurance premiums without having to change your
lifestyle - you should transfer that risk to the
insurance company.
Three Types of Long Term Care
Insurance Policies
Facility Only: Will pay benefits for care in a nursing
home, assisted living facility or board and care facility.
It's the most basic policy but often the most needed
type.
Home Health Care: Will pay benefits for care in your
home, but not in a facility. The preferred policy when a
home health care situation is possible.
Comprehensive: Will pay benefits for care in your home or in a
facility. This is the preferred type of plan (policy) because of it's
flexibility, but is also the most expensive.
A long term care insurance specialist will assist you in deciding
which type of policy will work best for your needs.
More Information on New Jersey Long Term Care Insurance
Click on the link below to fill out a quote request form for a New Jersey
long term care insurance policy that provides excellent health insurance
coverage and services at an affordable cost. Or you can speak with our
New Jersey Long Term Care Insurance specialist at 201-796-6303 to
discuss the policy features in more detail.
Benefit Limit: The number of years that a plan will pay a benefit from the time
you get sick. Benefit limits generally vary from one year to lifetime coverage.
The longer the benefit limit, the greater the protection but the higher the cost.

Inflation Protection: Sometimes called an "inflation rider", this provides you
with a way for your daily benefits to increase over time. Otherwise, the policy
may not be sufficient to protect you many years from now. Long term care
insurance policies normally contain riders offering automatic daily benefit
increases of 5 percent each year, either at "simple" or "compounded" rates.

Elimination Period: Amount of time that you agree to pay out of your own
pocket before the plan (policy) begins to pay. This period normally varies from
0 to 100 days. The 100-day elimination period will produce the smallest
premium cost to you.
Daily Benefit: The maximum amount a policy will pay for one day of care. This
can vary from $50 per day to over $400 per day. You will decide whether to
purchase sufficient insurance to cover all of these costs or only most of them.
Stable Premiums: Premiums that will not be influenced by any
change in your age or health, and will not change during the life of the
policy. Insurance companies do reserve the right to change rates on a
statewide basis.

Guaranteed Renewable: The insurance company can't cancel the
long term care insurance policy unless you fail to pay the premium.
Covers Mental Conditions: Covers mental and nervous conditions
due to any organic brain disease, including Alzheimer's Disease.

Exclusions: Exclusions should be minimal and should not adversely
affect your stated insurance protection goals.
No Pre-Existing Conditions: All previous medical history admitted
on the long term care insurance application and is approved for a
policy, is of no consequence in the future.
Waiver of Premium: The insurance company allows you to stop
paying premiums once you've begun receiving benefits. There can be
waiting periods of up to 90 days before this waiver takes effect, and it
may not be available when home health care is purchased.
No matter what age you are now, it's doubtful that you will pay more over your
entire life in total premiums for long term care insurance than you would pay
for only a one year stay in a nursing home.
The cost of nursing home care has risen at an average rate of 7% per year for
the last 15 years. Today's average cost of care in New Jersey is about
$141,000, but inflation rates will propel this cost much higher. An average
inflation rate of 6% over the next twenty years would more than triple the cost
of nursing home care.
Medicare pays for less than 10% of all nursing home costs.
Over 50% of the U.S. population will require long term care at some point.
38% of the 13.5 million Americans currently receiving long term care are
between the ages of 18 and 64.
More than 76% of people receiving long term care, receive it in their home
or in other community environments.
Facts
Type of Policy: Facility, Home Health Care, or Comprehensive
Age: The most important element in determining the premium. Naturally the
earlier you start paying for long term care insurance the better.
Long Term Care Insurance (Nursing Care)
There are three levels of nursing care that are covered by a New Jersey
long term care insurance policy:
Custodial care: Care necessary due to a permanent or chronic illness or
injury, which is less intensive, but which may continue indefinitely. This
nursing care helps a person perform activities of daily living or supervises a
person if cognitive impairment exists. Many custodial care situations start
with a mild degree of illness which is followed by slow deterioration.
Alzheimer's disease is one example where custodial care is usually
needed. Other types of insurance policies do not offer custodial care
benefits. The value of long term care insurance for you or a family member
and protecting a lifetime of created assets is never more evident than in
custodial care nursing services.
Skilled care: Short term nursing care needed after an illness or serious
injury. Consists of rehabilitative and intensive 24 hours per day care.
Intermediate care: Rehabilitative care by a nurse for up to six months
and when less than 24-hours per day supervision is needed.
Skilled care: Short term nursing care needed after an illness or serious
injury. Consists of rehabilitative and intensive 24 hours per day care.
Click on the link below to fill out a quote request form for a New Jersey
long term care insurance policy that provides excellent health insurance
coverage and services at an affordable cost. Or speak with our New
Jersey Long Term Care Insurance specialist at 201-796-6303 to
discuss the policy features.
Click on the link below to fill out a quote request form for a New Jersey long
term care insurance policy that provides excellent health insurance coverage
and services at an affordable cost. Or you can speak with our New Jersey
Long Term Care Insurance specialist at 201-796-6303 to discuss the policy
features in more detail.
Click on the link below to fill out a quote request form for a New Jersey long
term care insurance policy that provides excellent health insurance coverage
and services at an affordable cost. Or you can speak with our New Jersey
Long Term Care Insurance specialist at 201-796-6303 to discuss the features
in more detail.
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We are an Elmwood Park, NJ insurance agency, offering affordable New
Jersey long term care insurance policy premiums to residents of the following
cities and counties: Paterson, Garfield, Saddle Brook, Clifton, Preakness,
Paramus, Bergenfield, Englewood, Teaneck, Maywood, Bogota, Hackensack,
Teterboro, Little Ferry, Moonachie, Leonia, Palisades Park, Fort Lee,
Englewood Cliffs, South Hackensack, East Rutherford, North Bergen,
Ridgefield, Secaucus, West New York, North Arlington, Kingsland, Nutley,
Rutherford, Belleville, Carlstadt, Woodridge, Lyndhurst, Wallington, Passaic,
Lodi, Rochelle Park, Bloomfield, Montclair, Great Notch, Totowa, West
Paterson, Little Falls, Verona, Cedar Grove, North Caldwell, Singar, West
Orange, Fair Lawn, Glen Rock, Hawthorne, Wayne, Haledon, River Edge,
Tenafly, Cresskill, Closter, Oradell, Emerson, Ridgewood, Midland Park,
Westwood, Waldwick, Wyckoff, Franklin Lakes, Pompton Plains, Lincoln Park,
Old Tappan, Hillsdale, Oakland, Pequannock, Lake Hiawatha, East Orange,
Newark, Hudson County, Passaic County, Bergen County, Essex County, and
Morris County, NJ. We can also offer New Jersey long term care insurance
services throughout the Garden State.
**The information, pictures, and other content in this website about particular insurance
services is only provided for informational purposes. Any decisions regarding your
insurance needs should be discussed with a licensed insurance agent.
Abbey's Financial Advisory Services, Inc.
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