Month: September 2020

For Coppell, TX residents with elderly family members or relatives, long-term care insurance is something that may be beneficial. However, some residents wonder if it’s time to get a long-term care insurance policy and aren’t sure what exactly this type of insurance covers. Learn all of the in’s and out’s of long-term care insurance with The Select Insurance Agency!

What Does Long-Term Care Insurance Cover?

With long-term care insurance, you get a different kind of coverage than you do with other insurance policies. Long-term care insurance provides you coverage for expenses related to caring elderly people, physical rehabilitation, and other forms of long-term medical care and recovery. Here are some areas in which long-term care insurance can provide coverage:

• Mental or nervous disorders
• Drug or alcohol abuse
• Illness or injury sustained from war
• Treatment in a government facility
• Self-harm

These are just some of the areas in which you can receive coverage from long-term care insurance. The specific coverage type and the amount will depend on what type of policy you choose. To find the right long-term care insurance policy for you, visit The Select Insurance Agency for a consultation. 

Why Is Long-Term Care Insurance Important? 

Whether you’re caring for your elderly relatives, receiving your own physical or mental rehabilitation, or enduring some other form of long-term medical care, long-term care insurance can provide you with financial relief for the expenses of this care. No one ever plans or looks forward to long-term care insurance, but it’s something to consider when it happens. If you are planning on receiving or working with people who are receiving long-term care, then you will need a coverage policy to help you handle the expenses. 

Get Covered with The Select Insurance Agency

When it’s time to choose a long-term care insurance policy, visit The Select Insurance Agency to find the perfect policy for you. Our office serves the Coppell, TX area. 

You already know that insurance changes from time to time. Your auto insurance rates might go up as time goes by, or you might choose to cancel your home insurance when you move. But what about life insurance in Coppell, TX? The name might imply that when you buy this insurance, it’s valid until someone needs to use it. However, this is not always the case. The Select Insurance Agency is here to tell you the difference between term insurance and permanent insurance.

Insurance When You Need It

All people will buy life insurance for the people that they love and want to care for, but not everyone will use their life insurance in the same way. Some will buy permanent life insurance, meaning the policy is available to listed dependents at any time. However, some will simply want to provide for others until they can provide for themselves. So a mother might choose to buy a policy and set an expiration date based on when she believes her children will no longer need the financial assistance. This will usually be when her youngest child turns a certain age (e.g., 18, 21, or 25). 

Deciding Between the Options 

What kind of policy you choose depends on your specific needs. Some people might want a policy with a savings component, meaning they can draw from it if they run into an unexpected emergency to pay for things. Each option comes with its own positives and disadvantages, depending on what you want. If you have questions about how specific types of policies work, The Select Insurance Agency is here to help. We’re here to serve those in Coppell, TX, and get them the information they need to make smarter decisions.