Funding Senior Living with Long Term Care Insurance

Executive Summary: Funding Senior Living with Long Term Care

What is Long Term Care Insurance?

How Long Term Care Insurance Helps Pay for Senior Living

Understanding Long Term Care Insurance Cost

What to Look for in Your Long Term Care Insurance Policy

How Sundale Senior Living Supports Families Using Long Term Care Insurance

Executive Summary: Funding Senior Living with Long Term Care Insurance

• Explains what long term care insurance is and how it could potentially cover support with daily activities, Assisted Living, and Memory Care.
• Breaks down how policies work, including eligibility, elimination periods, documentation, and reimbursement processes.
• Clarifies long term care insurance cost factors and the differences between traditional, hybrid, and inflation-protected policies.
• Guides families on when to activate benefits and what to review in their policy before filing a claim.
• Highlights how communities like Sundale Senior Living assist families with navigating paperwork, claims, and maximizing available benefits.

When is the right time to start looking into senior living? Families usually start looking into this type of care when a parent needs more help than can be provided at home. And one of their first and biggest concerns is usually how they can pay for it.

Long term care insurance is one of the most dependable ways to offset the cost of senior living, but many people don’t understand how it actually works and end up feeling overwhelmed. Our team here at Sundale Senior Living is breaking it down in clear terms so you can make decisions about senior care with confidence.

What Is Long Term Care Insurance?

Long term care insurance is a policy designed to help pay for the support needed with daily activities as people age. It’s not the same as traditional health insurance, and it’s not tied to Medicare. Instead, it covers assistance with activities like bathing, dressing, medication management, and mobility, along with structured care in settings such as Assisted Living or Memory Care. Its purpose is to prevent families from paying for everything out of pocket.

LTC policies have become more common as life expectancy rises and senior care needs stretch over years, not months. When used well, long term care insurance gives you more flexibility and protects you from sudden financial strain.

How Long Term Care Insurance Helps Pay for Senior Living

Senior care, especially Assisted Living and Memory Care, often fall under the umbrella of services covered by long term care insurance. While every policy is different, most will pay a portion or all these costs once specific criteria are met.

Here is an example of the process for long term care insurance:

A physician confirms the need for care.
Most policies require proof that your senior loved one needs help with at least two activities of daily living or has a cognitive impairment.

The community completes the required documentation.
Senior living teams like ours at Sundale Senior Living handle the forms that verify the level of care being provided to your loved one.

The elimination period begins.
The elimination period functions like a deductible measured in days. Some policies require 30, 60 or 90 days before payments start.

Payments are issued directly to the policyholder or community.
Once activated, the LTC policy provides regular reimbursements that offset your monthly senior living fees.

What does this mean to you? You’re not navigating funding senior living alone. Communities like Sundale Senior Living can help you understand the documentation, file claims, and streamline the entire process, so your benefits kick in without unnecessary delays.

Understanding Long Term Care Insurance Cost

People often ask, “What does long term care insurance cost?” The answer depends on age, health, coverage amounts, and the type of policy you purchase. Premiums are lower when you purchase coverage earlier in your 50s or early 60s.

Although long term insurance costs can feel like a hurdle, reality paints a clear picture. Senior living costs are continuing to rise nationwide, and care needs can last several years. Without insurance, you may have to pull from savings or home equity. With an LTC policy, a chunk of financial pressure is relieved.

Modern LTC policies also come in a few forms:

• Traditional long term care insurance, which reimburses specific care expenses.
• Hybrid life insurance policies, which combine life insurance with long term care benefits.
• Policies with inflation protection help ensure your benefits keep pace with rising care costs.

The best option varies from person to person, but the bottom line is that having LTC coverage gives you more control over your future care.

When to Use Your Benefits

Families sometimes hesitate to activate their LTC benefits, unsure if they should save them for later. This usually isn’t necessary. These policies exist to be used when care is needed, and delaying can mean paying more out of pocket.

If your loved one is moving into Assisted Living or Memory Care at Sundale Senior Living, our community care team can help determine whether their policy should be activated right away. It’s always better to open the conversation early, so no benefits are accidentally left unused.

What to Look for in Your Long Term Care Insurance Policy

Before filing a claim, review the LTC policy for:

• Daily or monthly benefit limits
• Lifetime maximums
• Covered levels of care
• Elimination period length
• Requirements for physician documentation
• Whether care must be provided in a licensed community

If some of that feels overwhelming, you’re not alone. Many families haven’t looked at the policy since the day it was purchased. Our expert team is used to navigating these documents and can walk you through what applies to your situation.

How Sundale Senior Living Supports Families Using Long Term Care Insurance

Choosing senior living is a major transition, and finances should never be the barrier that stops someone from receiving the care they need. Sundale Senior Living works directly with families and insurance providers to make the process as smooth as possible. Ready to explore senior living options, or need help figuring out how to fund them? Contact Sundale Senior Living and our expert team of advisors today.