The need for long term care insurance may be a necessity for people that have a few assets and would like to preserve them for their heirs in addition to not having to depend on them for care if and when the need arrives. Long term care insurance could be a way to preserve capital for those who are not very rich.

When you buy long term care insurance, you should consider the following:

• Benefit amount - this is the amount the policy pays each day.
• Elimination period - this is the period of time you have to wait before you receive benefits.
• Benefit period - this is the length of time that you will receive benefits.
• Inflation protection rider - this rider automatically increases your daily benefit amount each year.

Terms You Should Know

Activities of Daily Living (ADLs) are:

• Bathing
• Dressing                                                                                   
• Toileting
• Transferring
• Continence
• Eating

For free information, contact:

Peter Pirozzi
New York Life Insurance Company
Licensed Agent
576 Broadhollow Road
Melville, NY 11747
Tel (631) 844-3096
Email ppirozzi@ft.newyorklife.com

These are some of the terms that are part of a Long Term Care Insurance Policy

• Assisted Living Facility
• Adult Home
• Enriched Housing Program
• Cognitive Impairment
• Daily Benefit
• Effective Date
• Injury
• Loss of Functional Capacity
• Maximum Benefit Amount
• Nursing Facility
• Sickness
• Stand-by Assistance

United States Dept. of Health & Human Services  http://www.hhs.gov/

Administration on Aging (AoA) http://www.aoa.gov/eldfam/eldfam.asp

The Older Americans Act (OAA) created the primary vehicle for organizing, coordinating and providing community-based services and opportunities for older Americans and their families. All individuals 60 years of age and older are eligible for services under the OAA, although priority attention is given to those who are in greatest need.

NYS Partnership for Long-Term Care http://www.nyspltc.org/

California Partnership for Long-Term care http://www.dhs.ca.gov/cpltc/default.htm

The mission of the California Partnership for Long-Term Care is to increase the number of middle-income Californian’s who have quality long-term care insurance that prevents or delays their dependence on Medi-Cal.

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