There are three types of extended care coverage available on the market today:

• Some types of coverage provide a full or partial reimbursement of expenses incurred 
  for home care or care received in a residential or long-term care centre
• other types pay a fixed daily benefit determined when the contract is taken out. 
  Services must be provided in a long-term care centre or at home by a health care 
  professional. With the product we sell you    will receive your daily benefit without 
  having  to send your receipts to the Insurance company for reimbursement
• the 3rd type pays the amount specified in your LTC policy,You do not submit receipts
  or varify how you spent the money.As long as the insured person requires care, the
  benefit will be deposited into a bank account each month for life. There is no maximum
  policy dollar amount, only a maximum dollar amount paid per month determined by the
  amount the individual purchased, at time of application. There is no restriction on
  what the benefit is used for.  
   
  Long-term care insurance coverage cannot be combined with life or critical illness insurance.

Coverage Recommended by Bruce A. Hollett

Age

• You can purchase LTC from age 50 to 80 

Coverage

• I recommend the 3rd type of Long Term Care Insurance !
• coverage is available in amounts from $1,000 to $8,500 per month
• tax-free benefits are paid after 180 days and are payable for life There are other waiting
  periods available, 30 or 90 days. The shorter the waiting period, the higher the premium.
• the contract will pay the purchased benefit no matter where you are receiving your care
• benefits will be paid even if the care is given by a family member
• you will receive your benefits without  having  to send your receipts to the insurance
  company for reimbursement
• you use the benefit as you see fit
• there is inflation, we recommend you add an inflation rider. This gives you the opportunity
  to purchase additional coverage every 3 years, without evidence of insurability, until you
  reach the age of 80. This increase is subject to the minimum between the increase in the
  CPI index for the previous 3 years or 15%. 
• with the addition of this option you  purchase a policy today that is within your budget.
  Then exercise your purchase options to increase benefits  as your budget allows, even
  if your health changes

Eligibility for benefits  (the policy pays you) 

• if you become unable to perform 2 of the following 6 activities of daily living without the help
  of another person:                                  
                                             bathing
                                             dressing
                                             eating
                                             toileting
                                             continence
                                             transferring (getting into or out of bed, sitting down or
                                             getting up from a chair – including a wheelchair
• if you are suffering from a cognitive impairment that is endangering your health or safety
  (for example, Alzheimer’s disease and other types of permanent senile dementia)
• no premiums are required when benefits are paid

Premiums:

• premiums are higher for females than for males as they live longer and tend to require
  more care
• premium is guaranteed for the first five years and may be adjusted every five years thereafter.
  This is standard throughout the industry 
• you have a choice to pay premiums for 20 years or for life
• if you and your spouse each buy a LTC policy at the same time, there is a 10% premium discount 
• if you stop paying premiums after having your LTC policy for 10 years or longer your policy
  will remain in force for a defined period of time
• if the insured dies while the coverage is in force, your beneficiary will receive the sum of all
  premiums paid, without interest, minus any long term care benefit already received
• premiums can be paid annually or monthly by automatic banking
• the price of this insurance product varies based upon the options selected. That is why no
  premiums are posted for this product.  I suggest you call our office to speak with a representative
  to help you choose the right solution for your needs and budget

Why LTC How to Apply LTC Contact Us             
                                       
Bruce A Hollett & Associates
401-1630 Pandosy Street
Kelowna  BC V1Y 1P7
voice 250-861-1006 or 1-866-861-1006  fax 250-861-6177, e-mail  questions@telus