Disability Insurance

If you became sick or hurt and couldn’t work, how would you pay your bills? How would you maintain your living standard? If you’re like most people, your ability to get up each day and earn an income is one of your most valuable assets. Furthermore, you chance of becoming disabled at some time during your working career are probably higher than you would expect.

Disability insurance can replace a portion of your income when you are unable to work because of injury or illness. There are two major types of disability coverages:

• Short term disability provides an income for the early part of a disability. A policy may pay benefits for two weeks up to two years. Short term disability is often included as part of an employee benefits package.
• Long term disability helps replace income for an extended period of time, usually ending after five years or when the disabled person turns 65. Some people have long term disability insurance provided by their employers; others purchase it individually.

Sprezzatura Insurance is your best resource for all of your Disability needs. We can customize the right product mix to enhance your employee benefits package.

Long Term Care

With S.P.R. long-term care insurance you can make yourself feel at home because you can still live at home!

Even the most sophisticated retirement planner can overlook the possibility that someday he or she, a spouse, a partner or another loved one may need long-term care service. The cost of long-term care is often expensive. These costs can quickly erode your assets and may affect inheritance for your children or grandchildren.

Long-Term Care insurance policies, can give you importance choices. Like staying in your own home. Whether you need a visiting nurse or other caregiver, or just help bathing, dressing or other day-to-day activities, you can maintain the independence you’ve always enjoyed. Sprezzatura Insurance Group can help you build a long-term care policy to secure your future.

Frequently Asked Questions

What is Long-Term Care?
Long-Term Care helps people take care of themselves when they are hampered by a prolonged illness, disability or frailty. This assistance can range from help with specified day-to-day activities (such as bathing or dressing) to more sophisticated services, such as skilled nursing care, either at home or in a nursing home. Long-term care does not include acute care such as hospital care. Coverage is subject to certain requirements, restrictions and exclusions.

Are you a candidate for Long-Term Care Insurance?
You are if…

• You want to choose the type of care you receive from your available options.
• You want to spare your family responsibility for your long-term care.
• You want to preserve an inheritance for children and grandchildren.
• You have the financial resources to pay for the coverage.

Types of Long-Term Care?

Qualifying Nursing Home Care
Specified 24 hour a day care for people who require professional nursing and other personal care on a daily basis.

Assisted Living Facility Care, Including Qualifying

• General supervision
• Housekeeping services
• Medical monitoring
• Planned social activities
• Personal care services

Home and Community Based Care, Including Qualifying

• Personal care services
• Homemaker services
• Home health aide services
• Adult day care
• Nursing services

Who pays for Long-Term Care?
Nearly one-third, 31.6% of all long term-term care bills are paid by individuals and families out of their own pockets. Unfortunately this can deplete financial resources that could be used for such needs as daily living expenses and passing on an inheritance to loved ones.

About 51.6% are padi by Medicaid, but only after an individual’s assets have been reduced to the poverty level determined by the applicable state. Medicare pays for a mere 10.6% of services. The average number of days that patients collect from Medicare for nursing home care is only about 30 days.

What is the Cost of Long-Term Care?
The national average is $41,000 per year to keep just one person in a nursing home. The average cost of a home health aide visits is $50 to $60.

What are the Odds of Needing Long Term Care?
The actual risk of the general population needing long term care, either nursing home or home care, is greater than 50%.

People age 65 face at least a 40% lifetime risk of entering a nursing home. About 10% will stay there five years or longer.

Because women generally outlive men by several years, they face a 50% greater likelihood than men of entering a nursing home after age 65.

One if five American over age 50 is at risk of needing long term care services during the next 12 months.

Options for Paying for Long-Term Care?

Option One
Use you’re own or your family resources.

Option Two
Qualify for government assistance by reducing your assets to the poverty level.

Option Three
Purchase private long-term care insurance to protect against the risk.

Available Coverage
Home Care Only Policy

• Skilled care (nurse/therapist)
• Adult day care
• Hospice care
• Home health aide services
• Personal care services
• Home maker services
• Therapeutic device
• Caregiver training
• Medical alert device and more

Nursing and Assisted Living Facility Only Policy

• Qualifying care in a nursing home (skilled, intermediate and custodial).
• Coverage for residential care facility, assisted living facility, hospice facility, Alzheimer center, ect.

Integrated Policy Covering Qualifying Care and Services at Home

• A combination of the above listed services.
• Additional optional benefit riders are also available in most states.
• Waiver of Premium Rider: Provides for waiver of premium as soon as your benefits begin.

Additional Optional Benefit Riders on Long-Term Care Policies

• Benefit increase Rider
  A 5% simple and 5% compound benefit increase to help your policy keep pace with inflation.

• Survivorship Rider
  If a married couple both purchases a long-term care insurance policy and one spouse dies, the surviving spouse policy will be paid up on either the 10th anniversary of the rider or the date of the death of the spouse, whichever is later.

• Shortened Benefit Period Non forfeiture Rider
  Provide continued coverage if your policy lapses due to nonpayment of premium, as long as your policy has been in effect for three years or more.

• Return of Premium Upon Death Rider
  Upon your death, this rider returns to your beneficiaries the sum of all premiums paid. Less paid claims under the policy and any attached riders.

Care Coordinator

We understand that you have specific needs, goals and preferences. Once you have coverage and need care, you’ll be assigned a Care Coordinator to consult with you and your family, your physicians and others on important decisions about your care. Based on the feedback from the Care Coordinator, Sprezzatura Insurance will determine if your condition qualifies for benefits under your policy. Your Coordinator will be familiar with the variety of community resources and services available to you, long-term care options, Medicare and other benefits – all to help you make informed decisions about your long-term care.

A registered nurse or licensed professional will perform an initial assessment of your long-term care needs.

Your Care Coordinator will help you and your family develop the best plan of care for you.

When you plan is set, you decide how much your Care Coordinator will be involved.

A Sprezzatura Insurance representative can help explain all the details about our long term care insurance policy and how it can meet your needs.