LTC vs. LTD Insurance: What’s the difference?
They both fit into a well-designed personal safety net.
LTD (Long Term Disability Insurance) provides cash flow protection for people who rely on their income to support themselves, their business, and their families during the working years. These policies provide a continuation of income in the event of an illness or injury that leaves them unable to work.
LTC (Long Term Care Insurance) covers the cost of services such as home, assisted or nursing home care which are not covered by health insurance. While conventional wisdom assumes it is just for people of a certain age, injuries and illnesses can create care giving expenses at any age.
Statistics show that most bankruptcies are caused by uninsured income and high medical costs that create financial hardships.
Both types of insurance ensure that that life can go on as planned when health goes south.
Both are Essential Plans of Insurance!
When you are ready to talk to an expert about LTC vs. LTD Insurance and how to secure your financial future, schedule a call with an expert: www.calendly.com/jimbetter. Find more resources in our blog.