Financial resources when you need them most
Long-term care insurance
Long-term care is expensive and places a huge burden on most families who need it. For the unprepared it is an out-of-pocket expense that drains retirement savings. Advances in medical technology allow people to live longer, but long lifespan brings with it an increased likelihood of requiring long-term in-home health care or care that is provided in an assisted living facility or nursing home. The U.S. Department of Health and Human Services estimates that 70% of Americans above the age of 65 will need some form of long term care at least once in their lifetimes.
Providing financial resources to help with the staggering cost of long-term care is the purpose of long-term care insurance (LTCi). MDA Insurance offers members a variety of long-term care planning strategies and solutions through a number of insurance companies which gives us the ability to custom-design a plan to meet your needs and protect your financial security.
We can provide solutions through:
• Traditional long-term care insurance
• Shared benefit pools
• Life insurance with an LTCi rider
• Asset-based LTCi
Protecting your estate in the event of a debilitating illness or age-related degeneration is what long term care insurance is all about. Advances in medical technology allow people to live longer, but a long lifespan bring with it an increased likelihood of requiring long-term care in an assisted living facility, nursing home, or even in-home health care. Providing financial assistance to help with the staggering cost of long-term care is the goal of long-term care insurance. MDA Insurance offers a wide variety of programs through a number of insurance companies providing you the ability to purchase long-term coverage that is custom-designed to meet your needs and protect your financial security.
- single premium plans available;
- choose indemnity or reimbursement;
- choose traditional or linked benefit plans;
- choice of daily benefits for home and nursing home;
- choice of elimination periods;
- inflation increase options;
- tax qualified plans; and
- discounts available.
Short-term recovery care insurance
For some, Long-term care insurance is too expensive; others want it but are declined due to stringent medical underwriting requirements; and still others may be older than the “ideal” age to purchase it. For these individuals who are still seeking affordable protection to help with long-term care costs MDA Insurance offers another viable option—Short-term Care/Recovery Care insurance.
Final Expense insurance
A type of limited life insurance coverage that provides funds for the cost of funeral, burial, medical bills that are considered to be one’s “final expenses.”
Final Expense insurance is a limited type of life insurance coverage that provides funds for the cost of funeral, burial, medical bills that are considered to one’s “final expenses”.
Final Expense insurance is an affordable option for seniors who may no longer qualify for traditional insurance or can no longer afford to pay the premiums they paid during their working years. Final Expense policies can be issued with face amounts of between $2,000 and $40,000 and can even be issued to persons up to age 85.