Long-term Care Insurance

Long-term care insurance provides a tax-free weekly benefit for long-term care services when two of the regular activities of daily living can no longer be performed (bathing, maintaining continence, eating, dressing, walking and transferring, and toileting).

This type of insurance is to help offset costs incurred for long-term health care received whether in a facility or in the home.

Long-term care insurance offers the following features:

  • Weekly benefit amount – Generally pays between a minimum and a maximum per week of care, depending on the contract.
  • Maximum benefit limit – This is the period of time that daily benefits will be payable. Periods typically range from about two years to unlimited.
  • Elimination period – This is the period of time when no benefits are payable, generally 90 to 180 days.
  • Covered benefits – Common areas of care that are covered include long-term care facility care, home care, home health care, adult day care, hospice care and respite care; durable medical equipment; and emergency response system.
  • Waiver of premium – This is a built-in feature that allows the premium to be waived after 90 days of receiving care.

We can help

At Edward Jones, we can help you reach your financial goals. Contact your Edward Jones advisor.

Important information:

Insurance and annuities are offered by Edward Jones Insurance Agency (except in Québec). In Québec, insurance and annuities are offered by Edward Jones Insurance Agency (Québec) Inc.

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