Retirement Insurance in South Carolina: 3 Things to Know About Long Term Care

It is never too early to start thinking about retirement insurance in South Carolina. One of the most common types of insurance to purchase ahead of your retirement is long term care insurance, also known as LCTI. This insurance will help to cover the costs of care during your retirement or provide benefits as a form of income.

At the Michael Taylor Agency serving Columbia, SC, we want you and your family to be covered during your retirement. 

Types of Long Term Care Insurance

The cost of long-term care after an accident or during old age is significant. This is what long-term care insurance is meant to cover.

There are a number of different ways to get long-term care insurance. The way to determine the kind that you need will depend on your life situation today.

You can get coverage to pay for expenses for nursing home care, residential care, or at-home services. 

As with any insurance, there will be some exclusions depending on your insurance company.

Facilities for Long-Term Care

Even if you are choosing long-term care insurance for residential coverage, you have to be careful about learning what your policy covers. It may not be a blanket check for whatever you wish.

When you are choosing long-term care insurance, be sure that you know what types of facilities your policy will cover. Some insurance companies will only pay for a state-licensed facility or care that is specified as nursing home care.

Others will cover assisted living, and many cover in-home care and equipment. You may even be covered for some modifications at home, such as a wheelchair ramp or bathroom safety bars.

Get a Quote

When you are looking for long-term care insurance, know what you need and what to expect when it’s time to make a claim. Contact the Michael Taylor Agency serving Columbia, SC for more information on how to purchase long-term care insurance, and to get a quote.