Long-term Care Insurance
Plan Ahead For Long-Term Care
If you are close to, or in the early years of retirement, you need to consider the expenses you would incur if you require home care or residential care due to incurring a chronic illness or simply old age impairing your well-being. Rather than risk passing the burden of these costs onto relatives, a financial strategy for long-term care should be considered as an integral component of any comprehensive financial plan. One of the simplest and most effective means of accomplishing this goal is through long-term care insurance.
Insurance Designed To Meet Your Needs
Long-term care insurance provides you with tax-free benefit payments that can be used for service and support to maintain quality of life and help you complete basic daily tasks.
Advantages of long-term care policies include:
Covers home care services and institutional residential care expenses related to the onset of a chronic illness.
Policies can be tailored to your exact needs and specify both daily benefit amounts, as well as the type of care – home versus institutional – you wish to receive.
- Coverage specifics
Can range from home nursing care arrangements, therapists and other support services, as well as which residential facility you want to enter should the need arise.
Learn More From A CIBC Wood Gundy Investment Advisor
Determining which type of insurance you need is challenging. Your CIBC Wood Gundy Investment Advisor is sensitive to the significance of each of the decisions you need to make, and more importantly, the impact they can have on future generations. Contact your CIBC Wood Gundy Investment Advisor, who can introduce you to a qualified Estate Planning Specialist (Financial Security Advisor in Quebec). To find out how we can help you, use our Find An AdvisorOpens a new window in your browser. tool to locate a CIBC Wood Gundy Investment Advisor near you.