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Long Term Care Insurance

A decade from now, Canada is going to have 45% more seniors and twice as many 20 years from now.

The number of seniors aged 85 or older is increasing immensely every year. Health care becomes more old-couple-1316755-1279x849important as people become older. The cost of health care is rising every year and work income is not projected to increase at a rate fast enough to cover health costs.

Provincial health insurance plans don’t have the essential recourses needed to cover the cost of long-term health care.

The government does not offer coverage for private facility care and only cover for a limited amount for public care. Nursing, food preparation, cleaning, shopping, etc. will not be covered.

Long Term Care insurance was created to help cover the cost of health care, which the government does not cover.

Long Term Care insurance is very beneficial when you are no longer able to take care of yourself.  This is not beneficial to only the elderly but to people of all ages. A medical condition is not defined by age and it’s always better to be protected.

Long Term Care insurance is a great option for those who are concerned about large financial losses over health care or becoming a burden to their family to pay for their care. It allows you to access the health care you need without the financial burden that comes with it.

Disclaimer: Insurance, Investment and Mortgage products & services are provided by Devangkumar Shah.
Mutual Funds license sponsored by Shah Financial Planning Inc.
Lotus Loans and Mortgage ltd. is the principle mortgage broker.

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